Omaha Forums

Posted: **Thu Oct 20, 2011 12:16 am**

Fromaha wrote: The best part of the story - "The developer owns the property free and clear and now can sell it as it sees fit. The city's development agreement with Townsend lacked any provision reverting ownership back to the city if the development didn't happen."

This is one of the hugest failures in city government of all time.

Just giving away millions of dollars worth of land for free without protection of the city's interests.

Posted: **Thu Oct 20, 2011 12:50 pm**

A - I told you. Â

B - its not a total failure in that the site got demo'd and cleared and the City wasnt about to pay for that. Â

Still, I agree, sad that an agreement and timeline were not in place.

Posted: **Thu Oct 20, 2011 5:10 pm**

I read that Townsend said the block will be sold and construction on the NEW joint project will begin in 30-60 days!

Posted: **Thu Oct 20, 2011 5:20 pm**

Tornado wrote:I read that Townsend said the block will be sold and construction on the NEW joint project will begin in 30-60 days!

.... and where did you read this?

Posted: **Thu Oct 20, 2011 6:50 pm**

Tornado wrote:I read that Townsend said the block will be sold and construction on the NEW joint project will begin in 30-60 days!

Just like Wallstreet was suppose to be up by 2009 haha.

Posted: **Thu Oct 20, 2011 7:15 pm**

nebugeater wrote:
Tornado wrote:I read that Townsend said the block will be sold and construction on the NEW joint project will begin in 30-60 days!

.... and where did you read this?

I'm fairly certain that it's a joke.

Posted: **Fri Oct 21, 2011 1:00 pm**

Everything on this project has been "60 days" away the last 2-3 years.

Posted: **Fri Oct 21, 2011 1:06 pm**

HskrFanMike wrote:Everything on this project has been "60 days" away the last 2-3 years.

Hopefully they can sell it in 60-90 days!

Posted: **Fri Oct 21, 2011 5:19 pm**

Oh, totally joking guys! I just hope it's sold free and clear of Townsend as I just don't think under any circumstances having the Townsend development team or even the WallStreet name associated with this block moving forward could be successful. I'm not sure what the total price tag for demolition and advertising was for Townsend but I sure hope he doesn't come out to far ahead with the sale of the property, that just wouldn't sit right with me.

Posted: **Sat Oct 22, 2011 11:01 am**

We should occupy Wall Street Tower.

Posted: **Wed Oct 26, 2011 6:05 pm**

S33 wrote:We should occupy Wall Street Tower.

I see what you did there. Â :lol:

Posted: **Tue Jan 24, 2012 9:07 am**

Im worried that the new tif bill could end up killing this project.

Posted: **Tue Jan 24, 2012 2:17 pm**

thenewguy wrote:Im worried that the new tif bill could end up killing this project.

I hope that's sarcasm. I mean, you have seen the giant FOR SALE sign on the property, right?

Posted: **Tue Jan 24, 2012 9:27 pm**

almighty_tuna wrote:
thenewguy wrote:Im worried that the new tif bill could end up killing this project.
I hope that's sarcasm. I mean, you have seen the giant FOR SALE sign on the property, right?

yes that was sarcasm

i tried to copy a quote from the discussion about said-bill but my smartphone is dumb and didnt do it. that would have helped the joke a little.

Posted: **Mon Jan 30, 2012 12:11 pm**

NP Dodge now has "for lease" signs on the sales office at 12th & Cass, across from the Mattress Factory. Â (No, I don't think that they are talking about the condos for lease, but rather the sales office itself now being available to lease...)

Posted: **Mon Mar 26, 2012 12:26 pm**

Several trucks on site today, tearing out the curbs on the west and south as well as the sidewalk on the north side along Capitol. Â Not sure what's being done. Â I wonder if the city has forced them to install sidewalks on all four sides.

Posted: **Mon Mar 26, 2012 6:07 pm**

HskrFanMike wrote:Several trucks on site today, tearing out the curbs on the west and south as well as the sidewalk on the north side along Capitol. Not sure what's being done. I wonder if the city has forced them to install sidewalks on all four sides.

That lot looks awful, sidewalks would be nice, but real grass would be better.

Posted: **Tue Mar 27, 2012 2:04 pm**

HskrFanMike wrote: I wonder if the city has forced them to install sidewalks on all four sides.

Confirmed.

Posted: **Fri Mar 30, 2012 10:13 am**

Block gets fixup before downtown events

http://www.omaha.com/article/20120330/M ... own-events

If a proposed condo-office-hotel project won't sprout any time soon at 14th and Dodge Streets, then, by gosh, green grass and new sidewalks will.

That's the message the City of Omaha gave to the Kansas City-area developer that hasn't moved forward with plans to build the 32-story WallStreet Tower at the former Union Pacific headquarters site.
The square block has remained a dirt lot, as developer Townsend Inc. has been unable to obtain financing for the project proposed in 2005 and estimated then to cost $122 million.

Omaha planner Ken Johnson said the city told Townsend that it must beautify and improve the area in time for coming events that include the downtown College World Series and the U.S. Olympic swim trials.

Crews this week started installing sidewalks.
"They're making it safe and secure, an attractive green space," Johnson said.
The property has been put up for sale, and Julia Roberts of NAI NP Dodge said Townsend remains interested in finding a buyer or a partner to enter a joint development venture. She said she's in conversation with an interested party who has been to town to look at the empty site.
No new plan has been presented to the city, Johnson said. — Cindy Gonzalez

Posted: **Fri Mar 30, 2012 10:34 am**

In other words, Townsend still plans to develop the property, they just need someone with the cash to do it. So, in OTHER words, the property will remain an empty lot with a for sale sign until Townsend realizes it will be extremely difficult to find a partner for such a joint venture, especially considering their track record, and finally concedes to sell.

Posted: **Fri Mar 30, 2012 10:37 am**

S33 wrote:In other words, Townsend still plans to develop the property, they just need someone with the cash to do it. So, in OTHER words, the property will remain an empty lot with a for sale sign until Townsend realizes it will be extremely difficult to find a partner for such a joint venture, especially considering their track record, and finally concedes to sell.

I'll give them a call if I win Mega Millions tonight. Â :lol:

Posted: **Fri Mar 30, 2012 10:49 am**

iamjacobm wrote:
S33 wrote:In other words, Townsend still plans to develop the property, they just need someone with the cash to do it. So, in OTHER words, the property will remain an empty lot with a for sale sign until Townsend realizes it will be extremely difficult to find a partner for such a joint venture, especially considering their track record, and finally concedes to sell.
I'll give them a call if I win Mega Millions tonight. :lol:

ha, well you're gonna have to share the winnings with everyone else on my facebook who's also going to win it.

Posted: **Thu Feb 14, 2013 4:54 pm**

I read an article in the WSJ yesterday that I thought some of you might find interesting. The old Federal Reserve building in Kansas City that was purchased by Townsend Inc. in 2005 with the intention of converting to condos has ended in foreclosure and was auctioned off and purchased by another bank. Townsend purchased the building for 12 million in 2005 with plans for a 45.6 million dollar renovation. Those plans were scrapped Â and new plans of a possible hotel were also scrapped. Jason Townsend couldn't be reached for comment.

Posted: **Thu Feb 14, 2013 5:07 pm**

Can the city use Eminent Domain to get it back?

Posted: **Fri Feb 15, 2013 8:34 am**

I can't believe this website is still up.

http://www.wallstreettoweromaha.com/

Posted: **Fri Feb 15, 2013 8:38 am**

bigredmed wrote:Can the city use Eminent Domain to get it back?

In Omaha or KC?

Posted: **Fri Feb 15, 2013 2:11 pm**

iamjacobm wrote:
bigredmed wrote:Can the city use Eminent Domain to get it back?
In Omaha or KC?

Omaha. Â Does the city have the ability to take the land back?

Posted: **Fri Feb 15, 2013 2:16 pm**

bigredmed wrote:
iamjacobm wrote:
bigredmed wrote:Can the city use Eminent Domain to get it back?
In Omaha or KC?
Omaha. Does the city have the ability to take the land back?

I would assume so, but we sold it to Townsend for $1 didn't we? Â We would have to pay him whatever it is appraised for if we took it back with eminent domain, probably more than a million dollar purchase.

Posted: **Fri Feb 15, 2013 3:05 pm**

Note to self: Never accidentally give away free land.

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