Two north downtown developments get go-ahead from Omaha City Council | Local Business News | #citycouncil

Two developments expected to bring office space, retail and new apartments to north downtown got the go-ahead from the Omaha City Council Tuesday.

The approval paves the way for a new office building near 15th and Mike Fahey Street as part of the larger Builder’s District.

At about 120,000 square feet, the building will have room for commercial and office space as well as first-floor spots for restaurants and a fitness center. 

It features unique — and environmentally friendly — design features. Plans also include two rooftop decks, a pedestrian plaza and a park. 

The overall development, dubbed the Builder’s District, would see offices, apartments, an urban park and the potential for a small grocery store brought to the area. The project is being developed by Noddle Cos. 

The development would run from Cuming Street on the north to Cass Street on the south. The western edge is on 17th Street with the eastern edge on 14th Street.

About five blocks northeast of the Builder’s District, a different team of developers plans to rehab a historic building near the Millwork Commons Development.

Known as the Dizzy Mule Project, it would create about 18,000 square feet of commercial space as well as more than 170 apartments near 13th and Izard Streets. 

The existing building would undergo extensive renovations. A new five-story building would go up on the east and west sides of the building, creating an L-shape. The design would make the project look like six individual buildings to fit in with the character of the area. 

The first floor would include parking garages, commercial space and amenities for residential units.

The $34.6 million project is a partnership between Black Dog Management and Bluestone Development. Developers will receive about $5 million in tax-increment financing. 

The council also approved tax-increment financing for the office space at 15th and Mike Fahey Streets. The $57 million project is slated to receive up to about $5.7 million in tax-increment financing.

Both projects — the Builder’s District and Dizzy Mule — fall within an area deemed “extremely blighted,” city officials said. They also fall within the streetcar influence area, meaning a portion of the TIF revenue generated would go toward the city’s streetcar project.

Tax-increment financing, or TIF, is a redevelopment tool that allows developers to take out a loan to cover eligible redevelopment expenses in areas deemed blighted. The loan is paid back, generally over a 15- to 20-year period, but using the increased property taxes that are generated on a new development.

The council approved a handful of other items also seeking TIF. Those include: 

» Expansion of a senior living facility near Aksarben Village.

The addition would be the third phase of the facility, Aksarben Senior Living, which sits near 72nd and Pine Streets. The new building would stand three stories tall and offer a mix of one- and two-bedroom units. 

The total project is slated to cost about $13 million. Developers will receive a little over $1 million in TIF. 

»A 255-unit apartment building slated for a now-vacant site near 72nd and Grover Streets. The site was formerly home to the Ramada Plaza CoCo Keys Water Resort.

The apartment complex, dubbed Aksarben Keys, will feature one- and two-bedroom units. The site also includes plans for an outdoor pool, courtyard, sky lounge and on-site leasing office. 

The $62 million project will receive nearly $6.6 million in TIF.

» A 120-unit apartment building near 24th Street and St. Mary’s Avenue. 

The plan calls for demolition of the Nebraska Urban Indian Health Center building. The organization is moving to a new location.

A six-story apartment building would rise in its place and on what is now a surface parking lot. The building would contain a mix of one-, two- and three-bedroom units. 

The project is an expansion of the Flats on Howard project. It’s slated to cost about $28 million. Developers will receive about $3.2 million in TIF. 

Flats on Howard also falls within the streetcar influence area.