Mutual of Omaha Tower (14th & Farnam)

[Omaha Cowboy]

Mutual of Omaha to spread downtown footprint beyond library site, sell midtown garages to city

Italics added to emphasize my disappointment.

So that block will no longer have mid-rises on it? That is disappointing.

Maybe there is still a chance they will put a new “main” branch library on that site instead of 72nd and Dodge. Otherwise, disappointing.

I’m not disappointed at all. Let’s see how this all shakes out. The way I look at it, this just further emphasizes Mutual of Omaha’s commitment to the downtown Omaha core..

And let’s not forget what will likely, at some point, be developed at the 1416 Dodge parcel..

The sky is hardly falling folks …

Ciao..LiO…Peace

[ita]

Mutual of Omaha to spread downtown footprint beyond library site, sell midtown garages to city

Italics added to emphasize my disappointment.

So that block will no longer have mid-rises on it? That is disappointing.

Maybe there is still a chance they will put a new “main” branch library on that site instead of 72nd and Dodge. Otherwise, disappointing.

I’m not disappointed at all. Let’s see how this all shakes out. The way I look at it, this just further emphasizes Mutual of Omaha’s commitment to the downtown Omaha core..

And let’s not forget what will likely, at some point, be developed at the 1416 Dodge parcel..

The sky is hardly falling folks …

Ciao..LiO…Peace

The more optimistic view is that they will use the block for a staging site during construction, landscape it a bit thereafter, hold on to it until the streetcar is established and land values go up, and plan to build some high density residential to provide housing options for employees or sell to a developer that will. I know they are divesting their real estate assets at Midtown Crossing, but that doesn't mean they couldn't or wouldn't try their hand at development again, especially when the streetcar is in play.

[Omaha Cowboy]

Mutual of Omaha to spread downtown footprint beyond library site, sell midtown garages to city

Italics added to emphasize my disappointment.

So that block will no longer have mid-rises on it? That is disappointing.

Maybe there is still a chance they will put a new “main” branch library on that site instead of 72nd and Dodge. Otherwise, disappointing.

I’m not disappointed at all. Let’s see how this all shakes out. The way I look at it, this just further emphasizes Mutual of Omaha’s commitment to the downtown Omaha core..

And let’s not forget what will likely, at some point, be developed at the 1416 Dodge parcel..

The sky is hardly falling folks …

Ciao..LiO…Peace

The more optimistic view is that they will use the block for a staging site during construction, landscape it a bit thereafter, hold on to it until the streetcar is established and land values go up, and plan to build some high density residential to provide housing options for employees or sell to a developer that will. I know they are divesting their real estate assets at Midtown Crossing, but that doesn't mean they couldn't or wouldn't try their hand at development again, especially when the streetcar is in play.

I think this is the way to also view this latest news. Frankly, I’m completely thrilled at Mutual of Omaha’s commitment to our downtown core..this provides further evidence of that..

I believe we have been so disappointed in the past- first with the Wallstreet Tower’s eventual flop in 2010, then HDR scaling back plans for a 22-25 story downtown highrise HQ’s to 16 stories..then in 2016, pulling out completely..and landing, eventually, at AK Village.. t’s easy to be frustrated and play the negative card. I completely understand why. There is even one or 2 in our forum crowd that have doubted this Mutual Tower will get built.. I highly disagree. In fact, I received news from a good friend of mine who is a Mutual director (his boss reports to Mutual’s CEO)- he indicated to me last night, this tower is basically a slam dunk to be built, and will be a hugely significant skyline changing tower..

In any case, there is a ton to be excited about..and I look forward to further development announcements…

Ciao..LiO…Peace

[NEDodger]

Mutual of Omaha to spread downtown footprint beyond library site, sell midtown garages to city

Italics added to emphasize my disappointment.

So that block will no longer have mid-rises on it? That is disappointing.

Maybe there is still a chance they will put a new “main” branch library on that site instead of 72nd and Dodge. Otherwise, disappointing.

I’m not disappointed at all. Let’s see how this all shakes out. The way I look at it, this just further emphasizes Mutual of Omaha’s commitment to the downtown Omaha core..

And let’s not forget what will likely, at some point, be developed at the 1416 Dodge parcel..

The sky is hardly falling folks …

Ciao..LiO…Peace

The more optimistic view is that they will use the block for a staging site during construction, landscape it a bit thereafter, hold on to it until the streetcar is established and land values go up, and plan to build some high density residential to provide housing options for employees or sell to a developer that will. I know they are divesting their real estate assets at Midtown Crossing, but that doesn't mean they couldn't or wouldn't try their hand at development again, especially when the streetcar is in play.

Ding ding ding! We have a winner.

Pretty sure that Mutual isn’t just gonna let a square block be a landscaped extension indefinitely. Think of the “plaza” that became Gavillon after the World Herald moved.

[Linkin5]

Or they will permanently leave the block a green space so that their tower doesn’t have any obstructed views of the park. That seems more plausible to me.

[NEDodger]

Or they will permanently leave the block a green space so that their tower doesn’t have any obstructed views of the park. That seems more plausible to me.

Money is more important. If they own the property, they can limit height to say 10 stories.

[arjavrawal]

Mutual of Omaha to spread downtown footprint beyond library site, sell midtown garages to city

Italics added to emphasize my disappointment.

So that block will no longer have mid-rises on it? That is disappointing.

Maybe there is still a chance they will put a new “main” branch library on that site instead of 72nd and Dodge. Otherwise, disappointing.

I’m not disappointed at all. Let’s see how this all shakes out. The way I look at it, this just further emphasizes Mutual of Omaha’s commitment to the downtown Omaha core..

And let’s not forget what will likely, at some point, be developed at the 1416 Dodge parcel..

The sky is hardly falling folks …

Ciao..LiO…Peace

The more optimistic view is that they will use the block for a staging site during construction, landscape it a bit thereafter, hold on to it until the streetcar is established and land values go up, and plan to build some high density residential to provide housing options for employees or sell to a developer that will. I know they are divesting their real estate assets at Midtown Crossing, but that doesn't mean they couldn't or wouldn't try their hand at development again, especially when the streetcar is in play.

Do we have any idea yet who's buying the Midtown Crossing stuff up?

[Flyer14]

Has anyone heard of the idea that the library be redeveloped into part of the old Mutual campus. With the streetcar, the site would be accessible. I’m sure it would be easier to retro fit a library into that space than it would be anywhere else I.e. an abandoned building or 72nd & dodge.

[Coyote]

’Save the library' event draws support for the current downtown library



Those against the City of Omaha's plans to tear down the W. Dale Clark Library to make room for a new skyscraper showed up Saturday to voice their concerns.

[stadsborgare]

I'd like to see a big old parking garage on the lot east of the Mutual tower, so that we can see the glimmering concrete slabs in postcard photos of the skyline as viewed from the Leahy mall.

(I hope you know I am joking.)

[Omaha Cowboy]

I'd like to see a big old parking garage on the lot east of the Mutual tower, so that we can see the glimmering concrete slabs in postcard photos of the skyline as viewed from the Leahy mall.

(I hope you know I am joking.)

Ha! That gave me a laugh right when I needed it …

Ciao..LiO…Peace

[ItsAllAboutMe]

I'm sure the construction company building the new tower will be happy to have an entire city block for staging just across the street. I'm thrilled that MO will own this block and hope they do something special on this site. Hard to believe this site will have been a fenced staging area for over 6 years once the tower is completed.

[omahahawk]

I'm sure the construction company building the new tower will be happy to have an entire city block for staging just across the street. I'm thrilled that MO will own this block and hope they do something special on this site. Hard to believe this site will have been a fenced staging area for over 6 years once the tower is completed.

Yeah, I think Mutual owning this parcel is ultimately a good thing too. They have a vested interest in getting something going on it sooner rather than later and you know they are not going to build anything that is not complimentary to their building. I would fully expect something to be completely constructed or at least well underway by the end of the decade if not before. I imagine something about 7 - 10 stories that will not obstruct their post card shot. Something with architecture that ties in well to their structure with some great ground level dining and retail options and with whatever residential component having some of the swankiest real estate in the city.

It's also a good deal having the city take ownership of the garages at their old location. Who knows...depending on whatever goes there (maybe a soccer stadium but hopefully that ends up downtown)it may very well have the potential of becoming a park and ride hub seeing at it is kind of the midpoint of the starter streetcar line.

[Omaha Cowboy]

From todays W-H-

“Mayor Jean Stothert in January pledged her support for the $306 million, 3-mile streetcar line, which was announced in conjunction with Mutual’s plan to anchor its headquarters in downtown’s corporate core by 2026.

Kevin Andersen, a deputy chief of staff to the mayor, said the city’s participation in the agreements — including the purchase of the parking garages — will not only help promote construction of the new tower, but also will help spur other future growth in Omaha’s urban core.

"We think not only supporting the Mutual development, but the transactions that take place within the agreements, also helps position the city to take advantage of growth opportunities downtown and around the midtown area," Andersen said.

(Mutual CEO) Blackledge likewise called the projects and the agreements spelling them out a “win-win” for Mutual and the city.

When it opens in 2026, the new Mutual tower figures to reshape downtown Omaha. It's the first significant addition to downtown Omaha’s skyline in almost a generation. And there may never have been a bigger single infusion of workers into Omaha’s downtown core than the move of Mutual's workforce of 4,000.

Blackledge said the exact height of the Mutual building still has not yet been determined. Yet he continues to say it will be on the scale of the First National Bank Tower, Omaha’s tallest building.“

The Complete W-H story link:

https://omaha.com/business/local/propos ... -top-story

Ciao..LiO…Peace

[Brad]

Mutual of Omaha envisions a potential second office tower on city block east of the library

https://nebraskaexaminer.com/2022/05/02 ... e-library/

Omahans eventually could see a second Mutual of Omaha downtown office structure, perhaps up to 20 stories high, on the city block east of the current library site where the insurance mammouth plans to build its corporate headquarters.

Details on what specifically would occupy that 1.7 acres are to be hammered out later, CEO James Blackledge told the Nebraska Examiner on Monday.

He said, however, that if the Fortune 500 company continues to grow, it likely will require even more local office space than the 800,000 square feet to be built in the future $443 million office tower at 215 S. 15th St., where the W. Dale Clark library currently sits.

[Omaha Cowboy]

Yep..

I don’t think, with this latest news, there will be any disappointment at all..The possibility of an additional 20 story tower, to compliment the 45-50 story Mutual HQ’s tower. I’ll take it ..

Like I mentioned a couple of days back, I’m completely thrilled with Mutual of Omaha’s commitment to the downtown Omaha core..

It’s a win-win…

Ciao..LiO…Peace

[Bob from Omaha]

Yep..

I don’t think, with this latest news, there will be any disappointment at all..The possibility of an additional 20 story tower, to compliment the 45-50 story Mutual HQ’s tower. I’ll take it ..

Like I mentioned a couple of days back, I’m completely thrilled with Mutual of Omaha’s commitment to the downtown Omaha core..

It’s a win-win…

Ciao..LiO…Peace

If there isn't a strip mall to the east of the tower with a Jimmy Johns & a dollar store I'm going to be so disappointed.

[Doctor Fate]

Mutual of Omaha envisions a potential second office tower on city block east of the library

https://nebraskaexaminer.com/2022/05/02 ... e-library/

Omahans eventually could see a second Mutual of Omaha downtown office structure, perhaps up to 20 stories high, on the city block east of the current library site where the insurance mammouth plans to build its corporate headquarters.

Details on what specifically would occupy that 1.7 acres are to be hammered out later, CEO James Blackledge told the Nebraska Examiner on Monday.

He said, however, that if the Fortune 500 company continues to grow, it likely will require even more local office space than the 800,000 square feet to be built in the future $443 million office tower at 215 S. 15th St., where the W. Dale Clark library currently sits.

Can be a max of 320 ft....that would be awesome to have another high-rise around the 300 ft mark there.

[Omaha Cowboy]

Yep..

I don’t think, with this latest news, there will be any disappointment at all..The possibility of an additional 20 story tower, to compliment the 45-50 story Mutual HQ’s tower. I’ll take it ..

Like I mentioned a couple of days back, I’m completely thrilled with Mutual of Omaha’s commitment to the downtown Omaha core..

It’s a win-win…

Ciao..LiO…Peace

If there isn't a strip mall to the east of the tower with a Jimmy Johns & a dollar store I'm going to be so disappointed.

We need to throw in the addition of a Big Lots and a Boost Mobile, lol..

Kidding aside, Mutual’s commitment, along with their partnership with the city, is rare..and a huge feather in the cap for Omaha and it’s core..compared to its peers in the 1 to 1.5 million metropolitan population group…

Ciao..LiO…Peace

[ita]

Mutual of Omaha envisions a potential second office tower on city block east of the library

https://nebraskaexaminer.com/2022/05/02 ... e-library/

Omahans eventually could see a second Mutual of Omaha downtown office structure, perhaps up to 20 stories high, on the city block east of the current library site where the insurance mammouth plans to build its corporate headquarters.

Details on what specifically would occupy that 1.7 acres are to be hammered out later, CEO James Blackledge told the Nebraska Examiner on Monday.

He said, however, that if the Fortune 500 company continues to grow, it likely will require even more local office space than the 800,000 square feet to be built in the future $443 million office tower at 215 S. 15th St., where the W. Dale Clark library currently sits.

Oh yeah! That's great news! I know I need to temper my expectations, but I love how the official documents say they will landscape it, then they reveal they are already contemplating another building around 20 floors on the lot east of the library site (can we come up with a short nickname for that property?). Potentially another 300 footer for the skyline? Yes, please. Hopefully, something with a smaller footprint. Ideally, there are a couple buildings on that lot.

[ita]

The article talks about the design constraints of any future developments on the block east of the MoO HQ:

The proposed agreement says that the maximum height of any structure built upon the block east of the library shall not surpass 320 feet. That’s about the height of the 19-story Union Pacific Railroad corporate office tower.

Also, the document says, if the site were to be repurchased at some point later by the city, the maximum height of any future structure would be lowered to 140 feet high and be topped with a “green roof” approved by Mutual.

[Mapguy]

I read this news a little differently.

Mutual builds a new building which they need anyway. The city pays them 60 million to move 4000 employees east 1 mile

Mutual wants to dispose of their midtown properties at a premium price. Omaha borrows an additional 300 million to make those properties more valuable with a streetcar

Mutual loses interest in Midtown. City agrees to take on the liability of maintaining Turner Park for 100,000s more over the next 15 years.

Mutual cant sell its parking garages in Midtown to private developers at a profit because those garages will no longer be used since nobody will use them once they leave. City agrees to take on another 50 million dollar liability ensuring Mutual makes a profit

Mutual decides 1 block downtown isnt enough of a subsidy. City agrees to sell an aditional city block to mutual at todays prices (a discount compared to what it will be worth in 5 years)

Total investment by Mutual 450 million
Total Subsidies by the city 410+ million initially with ongoing maintenance of multiple garages and parks to follow for forever.

Sounds like a game changer to me......just not one that benefits anybody but Mutual.

[PotatoeEatsFish]

Why not just make the tower taller? It seems more expensive to build a whole new tower instead of just consolidating it.

[ita]

Why not just make the tower taller? It seems more expensive to build a whole new tower instead of just consolidating it.

Taken from the article again:

Nationally, Mutual has about 7,500 employees, Blackledge said. About 4,000 of those are Omaha-based, he said, though not all physically worked in the company’s offices at any one time even before the pandemic.

He said the future headquarters tower, as designed, already lacks enough space for the company’s full local workforce. Mutual plans to see how hybrid work demands evolve before deciding on size and other details of a second office and parking structure.

[omahahawk]

Just a quick note on this east lot. I don't really think anybody should worry too much about what is going to happen here. Obviously I would ultimately like to see a 15 - 20 story building here as much as anyone but in the mean time it will be fine. Unlike the old UP site where it basically sat as weed patch for years under a developer who could not do anything with it, this is not the case with Mutual. Also, we got to remember unlike UP, they are retaining ownership of this lot and therefore will have control over it. This is their front yard and they are going to have to look at it more than anybody. The one thing I will say is that I hope when they say the area is going to be landscaped they mean more than just covering it with sod and calling it good. It should look like a natural extension of the park and it would not take much to do so. Just contour it a bit in the middle, pave in a seating area with some benches, place a few rocks and greenery, drop in a statue of lion or something and it's good to go until the right project is ultimately found.

[skinzfan23]

Something I just realized....its crazy to think that the parking structure of this project is going to be almost the same height as the paxton building.

[mcarch]

So, I studied Architecture. If we build a ~650 ft Mutual Tower and then Later a ~330 ft New Mutual Tower in front of it, you basically cover 1/2 of the Tower with a New one. To be anywhere near aesthetically pleasing (since everyone likes to take photos centered downtown), that Ratio should be 1/3. Consider World Finance Center (Brookfield Place) in New York vs One World Trade. They are roughly 1/3.

If done correctly, I would propose ~250-280ft vs the Tower being ~750ft.

Also, I have a clarification: I heard someone say that FNBO has a height limit of any other company coming in and building taller than the FNB Tower? Is this anywhere near the truth? I have NEVER heard of this.

[Omaha Cowboy]

Also, I have a clarification: I heard someone say that FNBO has a height limit of any other company coming in and building taller than the FNB Tower? Is this anywhere near the truth? I have NEVER heard of this.

No. It is not true…

Ciao..LiO…Peace

[skinzfan23]

Per the World Herald, the cost of Mutual’s new tower is now estimated to be $600 Million instead of $443 Million due to rising costs.

[mcarch]

Also, I have a clarification: I heard someone say that FNBO has a height limit of any other company coming in and building taller than the FNB Tower? Is this anywhere near the truth? I have NEVER heard of this.

No. It is not true…

Ciao..LiO…Peace

Thank you! I thought the person was full of |expletive| (can I say that on here?)

[omahahawk]

Per the World Herald, the cost of Mutual’s new tower is now estimated to be $600 Million instead of $443 Million due to rising costs.

Thanks and interesting. I don' t have a subscription anymore so I am curious to know if the article mentioned anything about how this might effect design? Also, KETV ran a piece last night on this project but I did not get a chance to see it. Since I did not see it in their online edition today I am assuming it was probably about the same thing. Did anybody happen to get any details there? Hopefully it has little or no impact on the final product.

[Athomsfere]

Per the World Herald, the cost of Mutual’s new tower is now estimated to be $600 Million instead of $443 Million due to rising costs.

Ouch, hopefully MoO was ahead of this any way that they could be.

[skinzfan23]

The story didn't really have any details other than saying that costs have risen and it then went on to describe TIF again and how it works.

Overall no new details were added or mention of any additional TIF requests just stating that due to the economic conditions that costs were going to rise to $600 Million.

[Garrett]

It’s at least encouraging to see mutual say the costs have risen and they’re biting that bullet rather than downsizing their plans.

[skinzfan23]

It’s at least encouraging to see mutual say the costs have risen and they’re biting that bullet rather than downsizing their plans.

Yeah thats how I read it....I kept looking for something hinting that design may be changed, but at this point nothing was mentioned.

[omahahawk]

Thanks, that is encouraging. Hopefully, the time frame remains the same as well. I know it's supposed to break ground in 23. I am assuming with W. Dale demo by the end of the year and full site prep we are looking at a summer 23 silver spade ceremony. Any guesses? If the streetcar starts about the same time along with all the other stuff that will still be in works man next year is shaping up to be incredibly ambitious.

[Omaha Cowboy]

Also, I have a clarification: I heard someone say that FNBO has a height limit of any other company coming in and building taller than the FNB Tower? Is this anywhere near the truth? I have NEVER heard of this.

No. It is not true…

Ciao..LiO…Peace

Thank you! I thought the person was full of |expletive| (can I say that on here?)

You sure can! And you’re welcome …

Ciao..LiO…Peace

[Omaha Cowboy]

It’s at least encouraging to see mutual say the costs have risen and they’re biting that bullet rather than downsizing their plans.

Yeah thats how I read it....I kept looking for something hinting that design may be changed, but at this point nothing was mentioned.

Right on. I watched the City Council meeting yesterday specific the discussion surrounding the Mutual of Omaha 7 part development proposal. Jason Lanoha stated even with the increased cost, there was not an increase in the $$ ask for the TIF component. There was also no mention at all of changing or downsizing their tower plans..

The City Council will vote on this 5/17/22, a significant hurdle which will pretty much green light the overall plan..which I believe will get a 5-2 approval vote…

Ciao..LiO…Peace

[omahahawk]

The City Council will vote on this 5/17/22, a significant hurdle which will pretty much green light the overall plan..which I believe will get a 5-2 approval vote…

Interesting, so sounds like this Tuesday should be a pretty big day for this project. So when you say this will pretty much green light the overall plan are you thinking that if it gets approval we are pretty much looking at getting the building and streetcar as originally presented?

[Omaha Cowboy]

The City Council will vote on this 5/17/22, a significant hurdle which will pretty much green light the overall plan..which I believe will get a 5-2 approval vote…

Interesting, so sounds like this Tuesday should be a pretty big day for this project. So when you say this will pretty much green light the overall plan are you thinking that if it gets approval we are pretty much looking at getting the building and streetcar as originally presented?

This Tuesday’s vote is the biggest hurdle. When it passes (and it will) the domino effect will occur..

Folks, this project WILL happen- tower and streetcar. I know some of us are apprehensive due to the cost of the tower rising to $600 million. Here’s the thing- Mutual and the city are committed to these projects. Over the weekend, I was at a get together and my friend, who also attended, and is a mutual executive, who has worked at mutual for 30 years, whose boss reports to mutual’s CEO- indicated to me the tower project- at its projected size and scope, will happen. No talks of delays or scaling back.. This speaks volumes..

Again, we are not talking about a developer like Townsend and Wallstreet tower.. We’re talking about a 100+ year old Omaha Fortune 500 company- who like UP and First National, has doubled down and committed to Downtown Omaha..

This Tuesday’s vote is the project domino catalyst- and again, I predict it will pass 5-2. I wouldn’t be surprised with a 7-0 vote to be honest…

Ciao..LiO…Peace