River's Edge Development (Playland Park)

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skinzfan23
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Re: River's Edge Development (Playland Park)

Postby skinzfan23 » Wed Jan 18, 2017 1:21 pm

iamjacobm wrote:Looks like streets are all done, including streetlights installed.

I think the streetlights have been in for a few months. It looks weird with the high street lights in a dirt lot with a few paved streets.

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iamjacobm
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Re: River's Edge Development (Playland Park)

Postby iamjacobm » Wed Jan 18, 2017 2:42 pm

skinzfan23 wrote:
iamjacobm wrote:Looks like streets are all done, including streetlights installed.

I think the streetlights have been in for a few months. It looks weird with the high street lights in a dirt lot with a few paved streets.


I don't get over the river very often obviously!

buildomaha
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Re: River's Edge Development (Playland Park)

Postby buildomaha » Wed Jan 18, 2017 6:29 pm

I've been watching nothing happen on this forum for a while and have wondered if anything is happening with the area anymore? :lol:

EastCB
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Re: River's Edge Development (Playland Park)

Postby EastCB » Wed Jan 18, 2017 6:37 pm

:what: :what:
buildomaha wrote:I've been watching nothing happen on this forum for a while and have wondered if anything is happening with the area anymore? :lol:

Follow the Council Bluffs City Council Meetings. Broadmoor Development will be building the apartments and townhomes. It's moving along as fast as many Omaha developments. :D

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skinzfan23
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Re: River's Edge Development (Playland Park)

Postby skinzfan23 » Thu Jan 19, 2017 9:21 am

Thats good to hear that they are still progressing...it is hard to tell physically from the playland park site.

IowaChicken
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Re: River's Edge Development (Playland Park)

Postby IowaChicken » Tue Jan 31, 2017 3:02 pm

As a resident of the 4100 ave B block seeing it everyday it does seem to be going very slowly.

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iamjacobm
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Re: River's Edge Development (Playland Park)

Postby iamjacobm » Fri Feb 03, 2017 9:50 am

IowaChicken wrote:As a resident of the 4100 ave B block seeing it everyday it does seem to be going very slowly.


Yeah, I atleast wish they had more urgency on the 2 story park building currently u/c. At this rate they are going to miss the whole summer.

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skinzfan23
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Re: River's Edge Development (Playland Park)

Postby skinzfan23 » Fri Feb 10, 2017 8:52 am

New road proposed along Council Bluffs riverfront

Currently, people attending events at the Tom Hanafan River’s Edge Park or at Harrah’s Casino must travel back east to Interstate 29 or South 35th Street if they want to travel further south to Ameristar Casino or other sites in that part of town, according to Reeder. In the short time frame, though a specific timetable isn’t set, the plan calls for a road west of I-29 that would connect Ninth Avenue with Nebraska Avenue to the south, Reeder said. After that, the road could perhaps be extended farther south to Veterans Memorial Highway, he added.

To make this project a reality, city officials have received a “once in a lifetime” opportunity from the Iowa Department of Transportation, which must lengthen the Union Pacific Railroad bridge over I-29 to make way for a wider interstate as part of the overall interstate reconstruction around Council Bluffs, Reeder said.

The DOT has agreed to lengthen the bridge even further to the west to allow room for this proposed two-lane river road, he said, though the city will have to pay for that further extension. Without this extension, the city would need to tunnel a connection – and it’s doubtful Union Pacific would agree to this, according to Reeder.

The cost for the extended bridge work is estimated at less than $3 million, and the DOT has agreed to a five-year repayment plan by the city for that work, which the DOT would pay upfront.

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Brad
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Re: River's Edge Development (Playland Park)

Postby Brad » Fri Feb 10, 2017 11:38 am

That would be great! Hopefully that drive is eventually continued north to River Edge Park too!
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Re: River's Edge Development (Playland Park)

Postby MTO » Mon Feb 13, 2017 1:43 pm

A new access road sounds like a greate idea especially if it eventually goes from highway 275 to N 40th Street. Although Dodge Park stands in the way perhaps they could transition the rout into 37th street at the Harrah's exit. Reconstruction of the freeway through that area is about to start I wonder if they'll reconsider the alignments for this proposal.
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skinzfan23
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Re: River's Edge Development (Playland Park)

Postby skinzfan23 » Thu Feb 16, 2017 9:17 am

Plans for twin residential towers in Playland Park become clearer

Two residential towers in the Council Bluffs Playland Park area are moving closer to reality as a development agreement between the developer and the city is set for a late March city council vote.

One of the towers will consist of 125 to 175 apartments ranging in size from 800 to 1,200 square feet in either studios or one- or two-bedroom models, Mayor Matt Walsh said. They’ll be primarily targeted to the millennial and young professional market. The other tower will consist of up to 60 condo units that will be about 1,000 square feet each and targeted to empty nesters and baby boomers.

The project investment is expected to be approximately $33,354,000.

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Re: River's Edge Development (Playland Park)

Postby iamjacobm » Thu Feb 16, 2017 10:00 am

Can't wait to see some renderings. Getting this side of the river built up is going to make the "bridge to nowhere" seem like the nowhere side is in Nebraska.

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Re: River's Edge Development (Playland Park)

Postby iamjacobm » Thu Apr 27, 2017 10:14 am

Some info from the city council agenda on the residential proposal.

• Developer acquires Block 1 of River's Edge Subdivision (75,118 sq. ft.) for $751,180, which is
approximately $10.00 psf.
• Developer initiates the construction of two residential towers on the site. One tower will consist
of 125 to 175 condo units ranging in size from 800 to 1,200 sq. ft. and will be either studios, one
bedroom or two bedroom units. These units will be targeted to the millennial/young professional
market. The second condo tower will consist of up to 60 units, approximately 1,000 sq. ft. each
and will be targeted to "empty nesters" and baby boomers.
• The millennial/YP condo tower will not begin construction until or simultaneous to the
construction of the "empty nester"/baby boomer condo tower. The "empty nester"/baby boomer
condo tower will require 50% of total units be sold prior to construction.
• The company expects to initiate construction by February 1, 2018 and be completed by July 30,
2020.
• The project investment is expected to be approximately $33,354,000, which will be the value
stated in the minimum assessment agreement.
•If the Developer has not started construction of the "empty nester" /baby boomer condo tower
within 24 months from the closing date, the City shall have the right to repurchase the property
from the Developer at a price equal to 75% of the purchase price less the costs of any closing costs
paid at closing.

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Re: River's Edge Development (Playland Park)

Postby Omaha_corn_burner » Thu May 04, 2017 3:47 pm

iamjacobm wrote:• Developer acquires Block 1 of River's Edge Subdivision (75,118 sq. ft.) for $751,180
• One tower will consist of 125 to 175 condo units
• The second condo tower will consist of up to 60 units
• The project investment is expected to be approximately $33,354,000, which will be the value
stated in the minimum assessment agreement.

Super quick math:

33,500,000 dollars / 200 units = $167,500 average cost per unit. If the developer is expecting a 30% profit margin (just made that number up) then they need to charge an average of $218,000 per unit.

I'm not sure if the land cost is included in the 33 million dollar quote.

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Re: River's Edge Development (Playland Park)

Postby Coyote » Thu May 04, 2017 10:01 pm

image.jpeg
image.jpeg (89.7 KiB) Viewed 271 times
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skinzfan23
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Re: River's Edge Development (Playland Park)

Postby skinzfan23 » Fri May 05, 2017 8:20 am

Thanks for the picture, but that has to be one of the slowest construction projects in the metro. They started construction a year ago and this is all they have.


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