Pinnacle / Swanson Site (10th and Capitol)

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adam186
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Post by adam186 »

Minneapolis Boy wrote:Something bigger must be in the works.
Right now, I doubt it.  The city wouldn't be buying it if something big was in the works now.  Yes, something big and mixed use will be there, but nothing planned now.

Hopefully when the city sells it back, the developer actually starts work right away.  A huge development firm needs to step in on this one.
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Post by Dfresh »

The thing that is messed up about this deal is that the city didn't even follow up with the developer on what kind of project they might have in mind...
Rumor being 1st class hotel...You would think that the city would want to attract developers not ignore them!
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Big E
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Post by Big E »

Don't underestimate the ability of our civic leaders to have all kinds of sweetheart, backroom handshake wink wink nudge nudge deals set up.  Just look at the well timed applications for Keno licenses of some local eating establishments ahead of the smoking ban.  There's still handful of players that call the shots around here.

The more I think about it, this smells to me like Developer A had a plan but didn't want to buy the land yet.  The "city" knew they had right of first refusal, and told Dev A that they would cover them if someone else came along.  Dev B comes along, offers $2.5M, and the "city" says "Sorry.  The taxpayers of Omaha would like to own this land while our friends comes up with the capital."

Any other conspiracy theorists out there?

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Uffda
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Post by Uffda »

City officials were particularly concerned that the private buyer's short-term plan is for surface parking lots. City officials saw no long-term development plans by the private buyer, Landow said.
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Post by Dfresh »

Quote:
City officials were particularly concerned that the private buyer's short-term plan is for surface parking lots. City officials saw no long-term development plans by the private buyer, Landow said.


There was no plan for surface parking by the private developer the city is saying that to paint a picture of why they should buy it.
From what I hear at the very least the developer was going to demolish the building and seed until a proper development plan was found.
The city on the other hand is going to leave that eye-soar of a building until who knows how long.  

I agree with Big E this smells fishy!!!
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Stargazer
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Post by Stargazer »

Regardless of the circumstances, I personally would rather see the city administer another RFP process to milk this property for it's full potential.  If this developer was really serious, they can come back and submit their proposal as part of this process.
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Big E
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Post by Big E »

Stargazer wrote:Regardless of the circumstances, I personally would rather see the city administer another RFP process to milk this property for it's full potential.  If this developer was really serious, they can come back and submit their proposal as part of this process.
Agreed on that.

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Post by DTO Luv »

This is good news. I would expect an announcement on this site within a year. Developers were tripping over them selves to get this project but the initial price of the lot was more than most were willing to pay.

The city isn't going to let this be A single hotel or office building. It will be a group of building spanning west down Capitol Ave. I think the Wallstreet Tower just got a bit more attractive as well.
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Post by the1wags »

The city council unanimously approves buying the Swanson/Pinnacle site for $2.5M. Now the city can control the development on the site.

"City leaders envision the 3.24acre parcel being transformed into office buildings, hotels, retail or residential buildings."

Link to the full World Herald article.

http://www.omaha.com/index.php?u_page=2 ... id=2339161
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Post by OmahaChef »

I think this is excellent news.  Within two years, we might actually see some major construction on this property.  A good move by the city.
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Brad
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Post by Brad »

Sunday 4/1/2007

Image

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DTO Luv
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Post by DTO Luv »

I was talking with the owner of Farrells' wife yesterday and she told me some news about the Swanson site. She said the group of investors in Farrells is close with the city and has some way of knowing that there has been lots of interest from groups around the nation wanting to build on the Swanson site. It's nothing you probably couldn't figure out what was happening but it's nice to hear that there is still behind the scenes work going on.
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Brad
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Post by Brad »

Omaha wants 'linchpin' parcels

http://www.omaha.com/index.php?u_page=2 ... d=10091647
Between the up-and-coming north downtown area and the bustling Old Market lies the now-dormant Pinnacle Foods plant.

The looming factory is a testament to the city's blue-collar roots, but it may also be a key to downtown's ongoing rebirth as a residential center and tourist zone.

Omaha purchased the Pinnacle site in March and is looking to buy the two remaining adjacent parcels, where Hauff Sporting Goods and Ferguson Enterprises are situated.

With those parcels, the city would control the entire two-block area between 10th and 12th Streets and Capitol Avenue to Interstate 480. The city plans to ask developers to put together proposals for the site once it owns all the land.

Those proposals probably would include residential, retail or office space, or even a full-service hotel. Such a hotel, with a restaurant, meeting space and other amenities, could help the Qwest Center Omaha draw larger conventions that sometimes bypass the city because there aren't enough full-service hotels.

Omaha Planning Director Steve Jensen considers the site a "linchpin" that connects downtown's two entertainment areas, and the city isn't taking any chances on the future of the pivotal blocks.

"What happens to this site is critical," Jensen said.

The future of the property is also critical for Hauff Sporting Goods and Ferguson Enterprises, which sells plumbing fixtures.
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Post by StreetsOfOmaha »

Exciting that things seem to be moving with these blocks, and that the city seems determined that they feature very high quality urban development.

And we may see proposals by this fall/winter!!!
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OmahaJaysCU
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Post by OmahaJaysCU »

Great news!  
Omaha purchased the 3.24-acre Pinnacle property for $2.5 million in March after a private buyer made an offer on the site. City officials feared the private owner would raze the plant and put in a parking lot that would compete with the convention center and arena lots.
Thank GOD the city stepped in to stop this.  Can you imagine that, it would be 90% of the people on this sites nightmare/


How long after their release did we have to wait for the proposals on the UP site?
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Post by DTO Luv »

It wasn't very long after the UP proposals came in before they were released. The WS Tower was actually on the drawing board before the RFPs were out for the site.

I'm stoked that the city is finally being aggressive about this site. I think we'll all like what will end up there.
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Post by the1wags »

Great news. I'm glad that the city seems to realize the potential/how important this site is. I can't wait to see proposals!
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Post by nebport5 »

And Thanks to Karen Sloan(WH writer) who referenced North Downtown without using that god awful four letter word.
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agibson95
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Post by agibson95 »

DTO Luv wrote:It wasn't very long after the UP proposals came in before they were released. The WS Tower was actually on the drawing board before the RFPs were out for the site.

I'm stoked that the city is finally being aggressive about this site. I think we'll all like what will end up there.
Maybe we will get that 800 room Hilton that was on the drawing board when the Quest was being built. Although I did hear rumors of a Borders and Hard Rock cafe. I think it would be cool to have a house of blues or hard rock, but we are probably still too small of a market
Last edited by agibson95 on Tue Jul 31, 2007 9:27 pm, edited 1 time in total.
OmahaChef
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Post by OmahaChef »

I had to laugh when I read this article in the paper this morning.  Just last week I was at 11th & Dodge waiting for a bus, and was thinking to myself the city must be trying to buy both properties, so they can market the entire two block parcel.  And so they are!

Once they close on both properties, the city can put out a nationwide RFP, and then the fun begines.  About the time a crane comes down from Wall Street Tower, a few could be going up on this property.
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StreetsOfOmaha
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Post by StreetsOfOmaha »

With the entire two block parcel, I'd expect to see proposals featuring a mix of all uses, probably with a hotel portion nearest 10th Street and probably a mixed use residential/office building with ground level retail to the West.  All high-rise.
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Post by the1wags »

I'll drink to that.  :cheers:
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Post by nebport5 »

Contrary to what many on here think I'm not convinced this site is a shoe-in for a high-rise.  It seems like the city is steering toward a full service hotel, which doesn't necessarily spell high-rise.  Furthermore, If the Fahey ballpark plan is endorsed by the NCAA, another major hotel DT would buttress the project much further than the Cummings St. additions.
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Post by the1wags »

I think a hotel is almost a given for this site. But it will be 2 full blocks, which is plenty of room for a hotel and much more. We all know a hotel doesn't guarantee a high rise (see Hilton), but it could look like the Marriott that was proposed too. I'm hoping for the latter. ;)

In my dream world, there will be 3 main buildings built on the Swanson site. A full service hotel fronting 10th (20+ stories), an office tower (12-20) and a large apartment/condo tower on the west end (16+).
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Post by Stargazer »

Of course unless it's a really hot market... hotels don't generally build highrise structures (with lots of rooms) without almost 100% public funding.  Aside from a sweet deal on the property... I don't see the city kicking in money to build a highrise hotel (when the mayor already axed the first plan, citing money... last I checked the city was still strapped for cash).
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Post by DTO Luv »

I think the city is planning on having more than a hotel at the site (if that's part of it at all.) It seems to me the city is thinking "go big or go home" for the Swanson site. It was described as the hub of the wheel of future DT activity. I don't see anything small for the site. Plus the streetcars will be running right by there so I think we could see alot packed on to those two blocks.
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Post by DTO Luv »

One other thing...

What does it matter if the city is strapped for cash? Aren't the RFPs from private developers? It's their money being spent, not the city.
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Big E
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Post by Big E »

DTO Luv wrote:One other thing...

What does it matter if the city is strapped for cash? Aren't the RFPs from private developers? It's their money being spent, not the city.
It doesn't matter if the city is strapped for cash UNLESS - as Jeff said - the hypothetical future developer was expecting the city to kick in some financing, ala the Qwest/Hilton.  These deals can be worked a bazillion ways from Tuesday, and just because the city helps on one project doesn't mean they will help on another.

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nebport5
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Post by nebport5 »

Yes there's plenty of room for more than a hotel, say a new transportation hub that some of us wanted to see at Burlington.


or here's an idea:


the city trades this site for Bluestone's Butternut site.

Swanson site: becomes both a hotel(for the city) and condo tower(for Bluestone).


Butternut site: becomes new transportation hub complete with integrated retail to capitalize on the high volume of foot traffic.
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Post by midtown charlie »

Looks like the city is in the process of acquiring property with plans to demolish but I only scanned this one.  It good to see action on these properties.  


http://www.ci.omaha.ne.us/departments/c ... c/1228.pdf
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Brad
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Post by Brad »

Hopefully we see something soon!
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Post by ihartfield »

Last night on KETV, this site was highlighted as a potential option for the stadium if Lot D falls through. I hope that we don't move toward that. Not sure if KETV was assuming it was on the table or what.
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Post by the1wags »

There's no way you're fitting a ballpark on that site. If KETV said that then they are just pulling stuff outta their butts.
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Post by StreetsOfOmaha »

the1wags wrote:There's no way you're fitting a ballpark on that site. If KETV said that then they are just pulling stuff outta their butts.
Like BIG E!!!  (Referencing the banter in the Kimball Lofts discussion)  8)
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Post by OmahaChef »

I think the parcel included at 920 Dodge is a bit interesting.  Not really part of the Pinnacle site, it is the vacant lot between 902 Dodge (Farrell's) and 10th Street.  The city already owns half of the land facing 10th near Capitol.  Could they be trying to offer the whole half block for redevelopment by buying the half block they do not already own?
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Post by thenewguy »

all i know is that it is one big |expletive| parking lot!  it may be tough to fit a ball park in there with the building directly to the east, but it'd work out incredibly well to have a 30 story highrise with a skywalk connecting a parking garage and some retail directly across the street :)  Who can i call to get in on some of these details like all you folks? ;)  Granted, i dont live in Omaha, but i'd love to help kick them in the |expletive| to get a move on!  When Omaha prospers, Council bluffs does, too.  The more that starts happening in Omaha, the more that the area gets noticed and people come to CB, as well.  Dont get me wrong, i'm glad that CB is starting to come out of its shell and get some big time things, but i also like being able to see the omaha skyline and downtown changing...this site would be a perfect add-on to wallstreet.  Then i can hop on the bike trail on the iowa side and look at it all from the bridge :)
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Post by the1wags »

Thought I'd throw this out there as another example of what we should be shooting for on this site. Atlanta project, two towers at 487ft and 392ft. 400 room hotel, 90 condos, 750000ft2 office, retail, etc.

http://forum.skyscraperpage.com/showthread.php?t=133691
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Brad
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Post by Brad »

Nice, I can see that fitting there.
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Post by Stargazer »

I wish.  I personally don't see anything of that scale coming to the Swanson site.
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Post by the1wags »

Yeah getting an almost 400ft and almost 500ft in one shot there is probably a stretch.  :;):  I'd like to think a 300ft and a 200-250ft would be obtainable though. Mainly I just want mixed use with some height if possible.
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