13th and L Street Redevelopment

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CapitalGuy
Human Relations
Posts: 552
Joined: Sun Sep 10, 2006 11:32 am
Location: Lincoln, NE

13th and L Street Redevelopment

Post by CapitalGuy »

Proposed redevelopment for SE corner of 13th and L Street
Another downtown redevelopment project is in the works, although the property owner says he's not in any hurry.

Frank "Bud" Sidles and his family own two buildings on the southeast corner of 13th and L streets, one of which is a small commercial building and the other an aging apartment building.

Sidles called the corner "really underutilized," and he sees opportunities there.

According to documents filed with the Lincoln-Lancaster County Planning Department, the redevelopment would involve tearing down both buildings and building one larger building that would have mostly retail and office tenants.

The project has an estimated cost of $6.5 million, about $830,000 of which could be in the form of tax-increment financing, in which increased property taxes generated by the development are reinvested in public improvements at the site.

But Sidles said it could be several years before anything is built.

"We've got to find a lead tenant before we do anything," he said.
In addition to the city, Sidles will also have to work with the Capitol Environs Commission due to the building's proximity to the Capitol.
It would be a shame to see the apartment building torn down. It is an interesting building that could possibly be saved so long is there are no significant structural issues. Any building will be capped at approximately 4 stories, but it will continue the increase the density in DTL.
CapitalGuy
Human Relations
Posts: 552
Joined: Sun Sep 10, 2006 11:32 am
Location: Lincoln, NE

Post by CapitalGuy »

Planning Commission Approves
The Lincoln-Lancaster County Planning Commission on Wednesday approved a redevelopment plan for the southeast corner of 13th and L streets.

The $6.5 million project involves tearing down a one-story commercial building and a four-story apartment building to make way for a three- or four-story office building.
A couple of commissioners expressed reservations about tearing down the residential building and not replacing its 21 apartments, but Sidles said that although the building looks OK from the outside, it has internal problems too expensive to fix and likely would eventually be torn down anyway.
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TitosBuritoBarn
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Post by TitosBuritoBarn »

I wish they would rehab that apartment building rather than tear it down, but I'm glad that the one story building is going. It looks terrible.

I assume they will also build on the surface lot behind it?
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