RNcyanide wrote:Is there any info upon which a guess could be made?
From me? No. It was a very generalized and non specific discussion, short in nature. I asked about the project and its chances...they were confident because of the two things I mentioned above. Pretty much end of my "information".
Stayed in the Marriott in DT KC last weekend. Ours will be much smaller, but if it ends up anything close to that one we will have a top flight hotel on our hands.
Brad wrote:This morning on Grow Omaha, Jeff said that construction on the Marriott was going to start around the first of the year.
Great to hear...I was looking back at some of the past articles and that is about what the same timeframe Mike Moylan had stated. Glad to hear that is still the plan.
Just pulled this from a story on ketv from 7/25/13:
Developer Mike Moylan says the district will include a 350-room Marriott hotel, more than 100,000 square feet of office space, 80,000-100,000 square feet of retail, 200 market-rate apartments and 80-100 affordable hosing units.
“We expect to start some construction around the first of the year,” Moylan said.
Anyone that's been to the Clink lately - Is MECA still using this parking lot? If so, that'd be a good indication that ownership hasn't transferred to Shamrock yet, and that constuction is still a bit further off.
I drove past it before the Tulsa game and it looked like it was reserved parking. We parked in the North lot for he Cal game, so I didn't see if before that game.
There were definitely cars parked there for the Marquette game on Tuesday night. Lets hope that we hear something soon on this project. It will be great to see some construction before the basketball season is over (March 8th).
Now that we're in the dead of winter and the ground is frozen, nothing is going to happen until March... Shamrock can't really start construction, and MECA has plenty of events that can use the parking.
Omaha really seems to be turning a corner, we have 4 proposed office projects at various stages/likelihoods of completion the city core, Downtown (Shamrock & Lanoha), Aksarben, Crossroads with a total of up to 900,000 sqft of office space, not to mention ground level retail, hotels, apartments and condos included in the projects.
Then there is Mutual's drive to tear down everything from Turner to the interstate for more office development.
Even if not all of these make it through, 3 are starting to look more certain, and that's a lot of development.
I was speaking to an co-worker recently who's son is the project manager for JD Dunn, building the Marriot. She indicated that she was not sure whether he was working on the whole development, but that this is definitely moving forward. I realize that this isn't really big/detailed news, but based on the source, I really see this as positive news.
That is an awesome rendering. I am so glad that this is going to be built. It looks good from that view but I also like the fact that capitol is being filled in also. Downtown is really spreading. Alot different than 1990.
The developer of at least one other major project is considering a funding tactic that could make its first Omaha appearance at Crossroads: a special occupation tax on purchases made within the development.
That project is a $205 million complex that would include a hotel, apartments and retail space near the CenturyLink Center at 10th Street and Capitol Avenue.
Like Crossroads, it is already in line for tax-increment financing help from the City of Omaha. Its developer, Mike Moylan of Shamrock Development, said he's still finalizing his plans and isn't certain he'd seek the extra tax.
Are they really going to be able to use that kind of funding down there? I thought something similar for the whole area was already being used to pay for the Clink's bonds?
Greg S wrote:Are they really going to be able to use that kind of funding down there? I thought something similar for the whole area was already being used to pay for the Clink's bonds?
Greg
I assume they are talking about the higher sales tax in the development. I think this is a new incentive for the city.
Something to consider about this sales tax bond though is that it will put eating dinner in any development using it will be taxed at well over 10%.
Omaha_Gabe wrote:There was a small mention in the OWH today...
The developer of at least one other major project is considering a funding tactic that could make its first Omaha appearance at Crossroads: a special occupation tax on purchases made within the development.
That project is a $205 million complex that would include a hotel, apartments and retail space near the CenturyLink Center at 10th Street and Capitol Avenue.
Like Crossroads, it is already in line for tax-increment financing help from the City of Omaha. Its developer, Mike Moylan of Shamrock Development, said he's still finalizing his plans and isn't certain he'd seek the extra tax.
MadMartin8 wrote:Stil trying to secure funding? Wall Street Tower version II.
I had such high hopes and heard so many good promising things early on.
I believe this will still happen since there are so many groups that want this to succeed. However, once the Crossroads project breaks ground, and if we see a Midtown Crossing East office park, it will likely shut down new projects for a while. I just can't imagine that there'd be any more hotel, office, and condo demand for several years.
MadMartin8 wrote:Stil trying to secure funding? Wall Street Tower version II.
I had such high hopes and heard so many good promising things early on.
I believe this will still happen since there are so many groups that want this to succeed. However, once the Crossroads project breaks ground, and if we see a Midtown Crossing East office park, it will likely shut down new projects for a while. I just can't imagine that there'd be any more hotel, office, and condo demand for several years.
Well Crossroads was announced after this project and is already ahead of it. Mutual of Omaha or Aksarben never mentioned any financing issues. The commercial lending environment has improved dramatically over the last 18 months. Shamrock has probably bit off more than it can chew here, but I'm still hopeful it can happen. IMO MECA made a mistake by not selecting the developer that built Aksarben.
Let's not forget, the clock is ticking in more ways than one. When the Pinnacle site was "traded" to MECA for the ballpark site it included a 10 year right to develop. I would guess that's probably half over by now.
If they wanted to pick the developer with the most large scale experience it wouldn't of been either of the local developers. Buckingham has them both beat.
I'm pretty optimistic about this going through. I'm sure they are still finalizing funding, etc, but it seems to have a lot more backing and things in place than Wallstreet tower, not to mention the much better economic and lending climate. I'm also continuing to hear chatter in the local construction industry about it, including a concern over finding enough local subcontractors and labor to get it built along with all the other high-demand projects that are/will be underway (continuing work at Aksarben, Crossroads, the UNMC Cancer Center, etc). In my mind, if people are worried about that, it's a pretty strong indicator it is on a path to actually be built.
Seth wrote:I'm pretty optimistic about this going through. I'm sure they are still finalizing funding, etc, but it seems to have a lot more backing and things in place than Wallstreet tower, not to mention the much better economic and lending climate. I'm also continuing to hear chatter in the local construction industry about it, including a concern over finding enough local subcontractors and labor to get it built along with all the other high-demand projects that are/will be underway (continuing work at Aksarben, Crossroads, the UNMC Cancer Center, etc). In my mind, if people are worried about that, it's a pretty strong indicator it is on a path to actually be built.
I had made a joke to a friend that I doubt we have enough cranes in the city to build all these projects announced. Didn't even consider that all of them would be competing for the same pool of labor skilled enough for these types of projects.
according to post #1 regarding this thread, it was announced in 2006 (i dont know that the date is accurate; there was no follow up chatter until 2011...and i dont believe it wouldve been silent for 5 years). So assuming the date is wrong, this project has only been announced for 3 years total. crossroads has been talked about for longer than that. in fact, at my previous job, i remember speaking with a guy who is an attorney with a firm representing the crossroads developer around that same time and he said "wait until you see what is in store for crossroads..." So i wouldnt say crossroads got started after shamrock and is further ahead. It seems like there has been activity around crossroads for a while and just wasnt announced until recently. a project of either scale cannot come to fruition in such a short amount of time.
again, i hope this gets going...if they wait too long, it will slip through our fingers.
That's a good point, newguy. Remember how many years Aksarben Village was just an idea? It took the foundation years to get all the right people in place.
thenewguy wrote:according to post #1 regarding this thread, it was announced in 2006 (i dont know that the date is accurate; there was no follow up chatter until 2011...and i dont believe it wouldve been silent for 5 years). So assuming the date is wrong, this project has only been announced for 3 years total. crossroads has been talked about for longer than that. in fact, at my previous job, i remember speaking with a guy who is an attorney with a firm representing the crossroads developer around that same time and he said "wait until you see what is in store for crossroads..." So i wouldnt say crossroads got started after shamrock and is further ahead. It seems like there has been activity around crossroads for a while and just wasnt announced until recently. a project of either scale cannot come to fruition in such a short amount of time.
again, i hope this gets going...if they wait too long, it will slip through our fingers.
As for a timeline....you are correct. The actual Shamrock development wasn't selected until October 2011. The original est. completion date was set for December 2014.
So overall, it has been around 2 1/2 years since the selection and obviously the completion date has been pushed back. Important to remember that $200 million investments just don't happen overnight. I feel confident that this project will get completed, I just hope that all phases get completed including the building on 10th St next to 9th St Tavern.
From my own experience, I remember Mike Moylan of Shamrock Development was working on plans for the former Pinnacle Foods Plant site as early as 2006. MECA became involved later, resulting in a proposal (Shamrock) being accepted in 2011. The Pinnacle plant closed in late 2004. It probably was demolished around 2006 if not earlier. So early plans for redeveloping the site really do go back that far. It would be great to see something finally happen here.
Update: It looks like this thread originated with the Pinnacle/Swanson thread and was separated-out after Shamrock was formerly selected. From Google Earth images, the old Pinnacle plant was demolished around 2007. From the Pinnacle/Swanson thread, the city was talking about seeking proposals as early as late 2004 for the site, after the Pinnacle plant closing was announced.
Last edited by GetUrban on Wed Feb 12, 2014 1:30 pm, edited 2 times in total.
He said "They are some big, ugly red brick buildings" ...and then they were gone.
skinzfan23 wrote:...I just hope that all phases get completed including the building on 10th St next to 9th St Tavern.
I agree. That corner is one of the most underutilized high-traffic intersections in Downtown, in my opinion. With all the foot traffic for CenturyLink, I can't imagine it will sit empty forever.
This looks to be a couple years old based on the timeline they provide, but it still carries a wealth of interesting things. Most interesting probably is that they show the SE corner of 10th and Capitol being a corporate anchor instead of residential. also a few different views of the renderings we hadn't seen yet.
IT'S HAPPENING.
