Joe_Sovereign wrote:Taking taxes from citizens at risk of jail, so Politicians can decide which citizens they can force to sell their private property at risk of jail or land seizure, at prices set by the government. Then Politicians get to decide which of their campaign contributing millionaire friends get to develop the land and reap huge profits.
That sounds like a great system and par for the course in our corrupt failing cleptocracy.
The development should be backed by stock in the parent corporation and in profit participation in the actual development. If this is such a great investment opportunity, why is this developer so heck-bent to get the taxpayers on the hook? Because he can reap the profit without risk.
We should stand to gain the equivalent of 10% of the development tax money in stock in his company at no cost to the city (He wants 25% of the bill in tax subsidies and some of these will be for lasting improvements and will be discounted. 10% is a fair margin.
I am genuinely tired of seeing my tax bill go higher and higher and year after year we get told that there is no money for library work, more hours at the swimming pools, etc, but yet there is plenty of cash for this kind of |expletive|.
Amen. Let Gretna go down the river and ride the rapids with this guy, Omaha has enough boon doggles already with the empty baseball stadium and the convention center that was a hoax.
Yates told The World-Herald that he hopes to begin demolition of all structures west of Target and east of Charleston’s restaurant by March 1. The first phase of the project would be slated to be open by the holiday season in 2017.
That phase, which would cost $275 million, is expected to include:
» about 410,000 square feet of retail space
» a 125-room boutique hotel
» a 10-screen cinema
» about 150,000 square feet of office space
» up to 200 residential units
They said the biggest public/private issue was an underground parking garage that they city said would need to charge for parking if they paid for it.
I like the rendering with the office building and video screen. Lets just hope they keep moving along and actually get it built within the next two years.
Gives them more land to develop. They only have x amount of space and probably want to use as much of it as possible for revenue generation instead of car storage.
Okay I just read the article and I've decided that I still love the project but I don't trust these developers. They say all this stuff about this amazing grandiose development, but if it's such an awesome project with retailers lining up, then why aren't they able to secure the financing? And what's up with the collegiate park? Sounds to me like they're pandering to Husker fandom to woo politicians and us, the public.
Well, Nebraska Crossing is probably the most successful retail development we've seen around here in the last 10 years. That should count for something.
But I agree, given the prime location, they should be able to get Crossroads to work without additional public assistance beyond what has been offered for other recent retail developments.
He said "They are some big, ugly red brick buildings" ...and then they were gone.
You guys are underestimating how difficult getting almost $300 million together for a largely retail project in a pretty retail saturated city. This is $100 million more than Shamrock and they had to get really creative to fund their project.
iamjacobm wrote:You guys are underestimating how difficult getting almost $300 million together for a largely retail project in a pretty retail saturated city. This is $100 million more than Shamrock and they had to get really creative to fund their project.
That's a good point, and it calls into question the viability of the development itself. If there's too much retail and thusly not enough demand for retail then something else should go there.
Don't get me wrong I want to see this work, but it just seems to me they're relying on tax money to make up for the potential failure of a bad idea. Gretna was different because it's far away from other malls and consists of outlets.
Here is my take after watching the NEX development that nearly everyone was down on to start with but most have seen it as a success.
These guys are savvy business people with a plan. Period.
They are doing everything they can to manage their costs and share the burden. At the end of the day they will take what they can get and the project will be done. I have no doubt that they will develop this and it will include some public funding. It will not be everything they wanted and it will be more than the city first offered but it will happen. I truly believe this is close to starting. The perspective of how much is too much somewhat depends on what side of the equation you are on.
For the record NEBUGEATER does not equal BUGEATER !!!!!!!
nebugeater wrote:Here is my take after watching the NEX development that nearly everyone was down on to start with but most have seen it as a success.
These guys are savvy business people with a plan. Period.
They are doing everything they can to manage their costs and share the burden. At the end of the day they will take what they can get and the project will be done. I have no doubt that they will develop this and it will include some public funding. It will not be everything they wanted and it will be more than the city first offered but it will happen. I truly believe this is close to starting. The perspective of how much is too much somewhat depends on what side of the equation you are on.
nebugeater wrote:Here is my take after watching the NEX development that nearly everyone was down on to start with but most have seen it as a success.
These guys are savvy business people with a plan. Period.
They are doing everything they can to manage their costs and share the burden. At the end of the day they will take what they can get and the project will be done. I have no doubt that they will develop this and it will include some public funding. It will not be everything they wanted and it will be more than the city first offered but it will happen. I truly believe this is close to starting. The perspective of how much is too much somewhat depends on what side of the equation you are on.
It's interesting that they were told quite a while ago the city wasn't going to take on half the financing. Yet here we go and find out they are still trying. They need to realize that's not happening and move on. The circumstances between the two are quite different as far as leverage for the developer.
Is this different from when he is suppose to be on the show on the 31st? Or is the Nov. 7 appearance replacing his Oct. 31st appearance? Also, when is the grow omaha show when they are going to announce what is going to replace the old food court?
Paige Yowell - World-Herald staff writer wrote:
What’s more likely is an offshoot of a full-line department store, something like a Nordstrom Rack or Saks Off Fifth, those retail watchers said.
“There are very few retail formats that are expanding right now” and many are off-price formats like TJ Maxx, Nordstrom Rack or Ross Stores, said Ken Perkins, president of Massachussetts-based Retail Metrics.
Paige Yowell - World-Herald staff writer wrote:
What’s more likely is an offshoot of a full-line department store, something like a Nordstrom Rack or Saks Off Fifth, those retail watchers said.
“There are very few retail formats that are expanding right now” and many are off-price formats like TJ Maxx, Nordstrom Rack or Ross Stores, said Ken Perkins, president of Massachussetts-based Retail Metrics.
That article is a little pessimistic. I don't put much stock in "experts" whose job it is to predict the future. They seem to just look at trends and conclude that those trends will continue.
"Video game violence is not a new problem. Who could forget in the wake of SimCity how children everywhere took up urban planning." - Stephen Colbert
TitosBuritoBarn wrote:That article is a little pessimistic. I don't put much stock in "experts" whose job it is to predict the future. They seem to just look at trends and conclude that those trends will continue.
I thought the same. Then I started thinking about its author and editor. Not that any fish wrap would ever have an agenda to shape public opinion, but I wish we could get playbill on the OWH and its actors so we can judge their performance according to their role playing...
Lol... Rewind 6 month and read the Shamrock Comments and Nebraska Crossing Comments and Just laugh and what you're posting now!
This is the Developer that just completely Redeveloped the Outlet Malls with great success, and now people want the Shamrock developer that you were all complaining about 6 months ago because they "Couldn't get the job done".
Seriously, there are way too many people on here that have zero patients and no clue how things work in the real world...
Brad wrote:Lol... Rewind 6 month and read the Shamrock Comments and Nebraska Crossing Comments and Just laugh and what you're posting now!
This is the Developer that just completely Redeveloped the Outlet Malls with great success, and now people want the Shamrock developer that you were all complaining about 6 months ago because they "Couldn't get the job done".
Seriously, there are way too many people on here that have zero patients and no clue how things work in the real world...
Relax and give it time.
Completely agree....there were only a few of us that had hope and patience for the Shamrock development and now that is going to be the largest private development in the city for the next few years. The land at the Crossroads is too valuable to not have anything happen. Give it time and either this project or something similar will definitely happen.
Brad wrote:Lol... Rewind 6 month and read the Shamrock Comments and Nebraska Crossing Comments and Just laugh and what you're posting now!
This is the Developer that just completely Redeveloped the Outlet Malls with great success, and now people want the Shamrock developer that you were all complaining about 6 months ago because they "Couldn't get the job done".
Seriously, there are way too many people on here that have zero patients and no clue how things work in the real world...
Relax and give it time.
There is a grand total of 1 person who wants Shamrock instead of the current developer.
iamjacobm wrote:Did we get the Crossroads news today?
Demo to start in March.
It was supposed to start last summer. Then it was this fall. Now, it is March. What if that incentive proposed by Heath Mello planned for the next legislative session doesn't pass? I understand it is a large and somewhat risky project (even though it is the densest part of Omaha) but Yates seems determined to make others pay 50% of it. I am beginning to wonder of if his financial stake in the Outlet Mall is retarding the redevelopment of Crossroads. He would be his own competition.
You do not have the required permissions to view the files attached to this post.
