Capitol District (NWC 10th & Capitol)

skinzfan23 · Post by **skinzfan23** » Tue Apr 15, 2014 10:35 pm

guitarguy wrote: hopefully this starts to bridge the gap between DT and NDT.

I think we are all right behind you, hoping this will happen.

S33 · Post by **S33** » Wed Apr 16, 2014 8:15 am

I'm not a developer, with little real estate experience at all, but am I the only one who thinks that if Shamrock had such a difficult time getting approval for this project over a long 5 year span, Omaha is probably not all that development friendly? Or is this the size of a development that usually needs 5 years of hurdles?

iamjacobm · Post by **iamjacobm** » Wed Apr 16, 2014 8:24 am

S33 wrote:I'm not a developer, with little real estate experience at all, but am I the only one who thinks that if Shamrock had such a difficult time getting approval for this project over a long 5 year span, Omaha is probably not all that development friendly? Or is this the size of a development that usually needs 5 years of hurdles?

Once your TIF is approved the clock starts ticking on when the new updated property will go back on the tax rolls at the higher property value. Makes sense for the developer to get it approved as near to the starting date as possible to reap as much of the benefit from the incentive as possible.

S33 · Post by **S33** » Wed Apr 16, 2014 8:38 am

iamjacobm wrote:
S33 wrote:I'm not a developer, with little real estate experience at all, but am I the only one who thinks that if Shamrock had such a difficult time getting approval for this project over a long 5 year span, Omaha is probably not all that development friendly? Or is this the size of a development that usually needs 5 years of hurdles?
Once your TIF is approved the clock starts ticking on when the new updated property will go back on the tax rolls at the higher property value. Makes sense for the developer to get it approved as near to the starting date as possible to reap as much of the benefit from the incentive as possible.

In this instance, who's most responsible for the long delay, though. If the city has just now given approval, I'd think other developers may look for more of a friendly environment to propose plans this large.

skinzfan23 · Post by **skinzfan23** » Wed Apr 16, 2014 8:47 am

Coyote wrote:City Council OKs redevelopment plan for north downtown project

Erin Golden: World-Herald staff writer wrote:Mike Moylan, Shamrock's president, told the council that he's encouraged by the interest of companies and businesses who might locate in the development.

“Nationally speaking, some of the big players really want to see an environment like this for their employees,” he said.

So does this mean that they have to wait for the next approval from the city council for the special occupation tax before they can begin construction? Or are they ready to begin after this approval?

iamjacobm · Post by **iamjacobm** » Wed Apr 16, 2014 8:51 am

S33 wrote:
iamjacobm wrote:
S33 wrote:I'm not a developer, with little real estate experience at all, but am I the only one who thinks that if Shamrock had such a difficult time getting approval for this project over a long 5 year span, Omaha is probably not all that development friendly? Or is this the size of a development that usually needs 5 years of hurdles?
Once your TIF is approved the clock starts ticking on when the new updated property will go back on the tax rolls at the higher property value. Makes sense for the developer to get it approved as near to the starting date as possible to reap as much of the benefit from the incentive as possible.
In this instance, who's most responsible for the long delay, though. If the city has just now given approval, I'd think other developers may look for more of a friendly environment to propose plans this large.

The city can't really do anything until the developer starts asking for approval. The developer has to turn in the plans to be approved to the city so that is on them to decide how long after announcement they take.

Like the Lanoha Tower has been announced, but the city can't do jack about TIF or rezoning or anything else until the developer comes forward with the official requests and plans.

S33 · Post by **S33** » Wed Apr 16, 2014 9:05 am

iamjacobm wrote:
The city can't really do anything until the developer starts asking for approval. The developer has to turn in the plans to be approved to the city so that is on them to decide how long after announcement they take.

Like the Lanoha Tower has been announced, but the city can't do jack about TIF or rezoning or anything else until the developer comes forward with the official requests and plans.

That makes sense, I guess I always figured that the hard financials would be proposed along with the projects formal proposal.

Coyote · Post by **Coyote** » Wed Apr 16, 2014 9:11 am

S33 wrote:
iamjacobm wrote:
The city can't really do anything until the developer starts asking for approval. The developer has to turn in the plans to be approved to the city so that is on them to decide how long after announcement they take.

Like the Lanoha Tower has been announced, but the city can't do jack about TIF or rezoning or anything else until the developer comes forward with the official requests and plans.
That makes sense, I guess I always figured that the hard financials would be proposed along with the projects formal proposal.

Unless the city wants to really be proactive, and designate areas like Crossroads and the Millard Lumber site 'blighted' making it easier for a developer to come in, knowing they will get TIF passed... But those are rare cases.

iamjacobm · Post by **iamjacobm** » Wed Apr 16, 2014 9:11 am

Coyote wrote:
S33 wrote:
iamjacobm wrote:
The city can't really do anything until the developer starts asking for approval. The developer has to turn in the plans to be approved to the city so that is on them to decide how long after announcement they take.

Like the Lanoha Tower has been announced, but the city can't do jack about TIF or rezoning or anything else until the developer comes forward with the official requests and plans.
That makes sense, I guess I always figured that the hard financials would be proposed along with the projects formal proposal.
Unless the city wants to really be proactive, and designate areas like Crossroads and the Millard Lumber site 'blighted' making it easier for a developer to come in, knowing they will get TIF passed... But those are rare cases.

And downtown is already in a TIF zone so that step didn't need to be passed for this project.

GetUrban · Post by **GetUrban** » Wed Apr 16, 2014 9:18 am

In this case, the slower economy from 2008-2012 was likely the biggest factor in the delay.

iamjacobm · Post by **iamjacobm** » Wed Apr 16, 2014 11:56 am

I just think getting a full service hotel in a city like Omaha is a heck of a lot to swallow for hotel operators. There is a reason the city owns the Hilton and not a private developer.

And that is where the chicken egg situation comes from. The city says we will get more and bigger conventions with another hotel here, but an operator looks at the current conditions and says there aren't enough visitors in the city to make this work. They can't have the same faith in Omaha convention draw as ciy officials.

skinzfan23 · Post by **skinzfan23** » Wed Apr 16, 2014 12:01 pm

From KMTV's story yesterday I noticed a few different numbers from what was previously released:

The complex will include a 335-room Marriott Hotel, 100,000 square feet of office space, and housing.
We have a 250 until apartment tower, which will be 8 or 9 stories tall, which is going to probably be one of the first new residential construction of any significant height to be built in downtown in 40 years." explained Moylan.

The city selected Shamrock Development in 2011 to develop the block. Construction of the space would begin this summer with completion planned for 2016.

Previously it was 350 hotel rooms, and 140,000 sq ft of office space and 200 market rate apts and 80 affordable units (per the first page of this thread)

Either way, still a significant investment for Omaha with a total cost exceeding $200 million (originally proposed to be around $176 million)

GetUrban · Post by **GetUrban** » Wed Apr 16, 2014 12:43 pm

We have a 250 until apartment tower, which will be 8 or 9 stories tall, which is going to probably be one of the first new residential construction of any significant height to be built in downtown in 40 years." explained Moylan.

He forgot about the 12 & 15-story Riverfront Place Towers by the Bob Kerrey Bridge, unless he doesn't consider them to be downtown. Close enough, although they are condos.

Post by **Brad** » Mon Apr 28, 2014 3:22 pm

Not sure if its been mentioned on here, but Kansas City based JE Dunn Construction (http://www.jedunn.com" onclick="window.open(this.href);return false;) will be the contractor on this project. They were a guest on the Grow Omaha program on 4/19. Said they are working through the plans now.

iamjacobm · Post by **iamjacobm** » Mon Apr 28, 2014 3:32 pm

Brad wrote:Not sure if its been mentioned on here, but Kansas City based JE Dunn Construction (http://www.jedunn.com" onclick="window.open(this.href);return false;) will be the contractor on this project. They were a guest on the Grow Omaha program on 4/19. Said they are working through the plans now.

Interesting they built P&L so it makes sense.

iamjacobm · Post by **iamjacobm** » Mon Apr 28, 2014 10:28 pm

So this just was posted by OWH...

http://blogs.momaha.com/2014/04/omaha-f ... fall-shows

The Omaha Fashion Week committee announced its line-up of designers to show collections during the fall shows — to be held Aug. 18 through 23 — in a tent on Capitol Avenue between 10th and 11th Streets.

Capitol between 10th and 11th would be where a new hotel is supposed to be built...

Unless they plan on literally closing down part of Capitol Ave which I can't imagine happening.

Coyote · Post by **Coyote** » Mon Apr 28, 2014 10:31 pm

That parking lot is where it was last year.

iamjacobm · Post by **iamjacobm** » Mon Apr 28, 2014 10:35 pm

Coyote wrote:That parking lot is where it was last year.

Yeah I do remember that now. I guess I was hoping that lot would be busy by Mid-August.

Coyote · Post by **Coyote** » Mon Apr 28, 2014 10:43 pm

iamjacobm wrote:
Coyote wrote:That parking lot is where it was last year.
Yeah I do remember that now. I guess I was hoping that lot would be busy by Mid-August.

I am hoping they have a contingency location for their event. Otherwise this is a telling sign of Shamrock's timeline...

MadMartin8 · Post by **MadMartin8** » Mon Apr 28, 2014 11:03 pm

GetUrban wrote:In this case, the slower economy from 2008-2012 was likely the biggest factor in the delay.

If that covers 2008 to 2012, what's the reason for the delay between 2012 and eternity?

HskrFanMike · Post by **HskrFanMike** » Thu May 01, 2014 12:25 pm

Coyote wrote:
iamjacobm wrote:
Coyote wrote:That parking lot is where it was last year.
Yeah I do remember that now. I guess I was hoping that lot would be busy by Mid-August.
I am hoping they have a contingency location for their event. Otherwise this is a telling sign of Shamrock's timeline...

MECA wouldn't lease that lot out unless they knew it was going to be available.

Bob from Omaha · Post by **Bob from Omaha** » Thu May 01, 2014 3:00 pm

It does say a tent ON Capitol Ave. Carrying the ON Capitol assumption to another length, it doesn't say which side of Capitol ave. Maybe one of you could call the organization to see what the real story is. Obviously the local monopoly fishwrap can't be bothered to seek out the details.

GetUrban · Post by **GetUrban** » Thu May 01, 2014 4:27 pm

MadMartin8 wrote:
GetUrban wrote:In this case, the slower economy from 2008-2012 was likely the biggest factor in the delay.

If that covers 2008 to 2012, what's the reason for the delay between 2012 and eternity?

Your guess is as good as mine Mad Marty, but I'd guess it's probably either the hangover from the recession, MECA dragging their feet, or developer (Shamrock) not lining their ducks up in a row.

MadMartin8 · Post by **MadMartin8** » Thu May 01, 2014 6:37 pm

GetUrban wrote:
MadMartin8 wrote:
GetUrban wrote:In this case, the slower economy from 2008-2012 was likely the biggest factor in the delay.

If that covers 2008 to 2012, what's the reason for the delay between 2012 and eternity?
Your guess is as good as mine Mad Marty, but I'd guess it's probably either the hangover from the recession, MECA dragging their feet, or developer (Shamrock) not lining their ducks up in a row.

Eh, I was being more facetious than anything (towards Shamrock, not you). Although I do believe the whole ducks not being lined up for a project this size is the likely cause.

iamjacobm · Post by **iamjacobm** » Wed May 14, 2014 10:56 am

Interesting that they just updated the Capitol District's website with info on the project.

http://www.capitoldistrictomaha.com/

Says 334 room Marriott and 226 upscale apartments.

But what the heck is the rendering labeled office on that page?

That isn't close to anything we have seen before. Almost looks like a stock image for "mixed-use" and not actually for this project...

ShawJ · Post by **ShawJ** » Wed May 14, 2014 11:31 am

Ha, that's an odd looking building. I'd guess you are correct that they just pulled something to use (not sure why they would do that). That building looks 15+ stories.

RNcyanide · Post by **RNcyanide** » Wed May 14, 2014 7:56 pm

ShawJ wrote:Ha, that's an odd looking building. I'd guess you are correct that they just pulled something to use (not sure why they would do that). That building looks 15+ stories.

I counted 21.

skinzfan23 · Post by **skinzfan23** » Wed May 14, 2014 9:46 pm

I just got my Creighton season ticket renewal form today and on the map it showed the Shamrock land as "Business Development". At least they are no longer listing the land as a parking lot.

Bobcat · Post by **Bobcat** » Wed May 14, 2014 11:34 pm

Here's one of the fundamental reasons why this project is delayed. Way to go MECA, you missed a fantastic opportunity. From today's World Herald:

"Since Werner Park opened in 2011, more than 1.3 million have seen two PCL championship teams, including the 2013 Triple-A national champs, and three straight division titles. The ballpark has also been home to nearly 200 special events, totaling more than 125,000 attendees."

This project is also in the wrong parking lot. It should be in Lot B.

iamjacobm · Post by **iamjacobm** » Wed Jun 04, 2014 7:44 pm

If you notice above they changed the photo of the office space that I thought looked odd.

MTO · Post by **MTO** » Sun Jun 08, 2014 7:53 pm

Why in the flip are these lots blocked off during all of these summer events...!

RNcyanide · Post by **RNcyanide** » Mon Jun 09, 2014 8:33 am

iamjacobm wrote:If you notice above they changed the photo of the office space that I thought looked odd.

How suburban. If I didn't know any better I'd think that belonged on 144th and Dodge.

swgiust · Post by **swgiust** » Mon Jun 09, 2014 8:47 am

I can't wait for this to all be completed. The mix is perfect. The Hotel brings in an upscale mobile client who will support the nightlife. Couple of nice bars and restaurants. The apartments make other businesses viable, maybe a coffee shop or small grocery store/deli?

guitarguy · Post by **guitarguy** » Mon Jun 09, 2014 9:29 am

This area of Downtown is amazingly under served with Grocery.. I also think a good deli would do big time business there.

Collin · Post by **Collin** » Tue Jun 10, 2014 9:59 am

A KETV reporter tweeted this about an hour ago:

" onclick="window.open(this.href);return false;

Post by **Brad** » Tue Jun 10, 2014 10:13 am

Nice find Collin!

Coyote · Post by **Coyote** » Tue Jun 10, 2014 10:14 am

Thanks Collin!

iamjacobm · Post by **iamjacobm** » Tue Jun 10, 2014 10:23 am

Awesome!!!!!

MTO · Post by **MTO** » Tue Jun 10, 2014 11:10 am

Will this project go up in phases or all at once?

RNcyanide · Post by **RNcyanide** » Tue Jun 10, 2014 11:20 am