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Thursday, March 2, 2017
Omaha to Consider Development Approval for $1.2 Billion Mixed-Use Property in West Omaha

  

Avenue One will be a “City Center” serving as both a distinctive western gateway to Omaha and a hub of activity for residents and businesses.


OMAHA, Nebr. (March 1, 2017) —The city of Omaha is considering approval of a $1.2B mixed use development named “Avenue One” to be located south of 192nd St. and Dodge.

“The approval of this project will be tremendous news for Omaha,” said Curt Hofer, CEO of Jasper Stone Partners, who is one of the lead investors and General Partner for the projects ownership group. “The jobs and economic activity resulting from this development will benefit the entire metro area. It is especially encouraging that Avenue One is now moving forward after acquiring the first piece of property over 13 years ago. We are eager to bring these benefits to the Omaha community.”

“From day one we have been committed to a unique project that creates a vibrant, healthy and connected environment where Omahans can live, work and play,” said Brad Simma, Vice President, Block Construction Services, the firm that Jasper Stone Partners has retained for their Master Planning expertise. “We’re also pleased to contribute our team’s skills to a project that will create significant economic opportunities for those that call Omaha home,” says Aaron Mesmer, Block Real Estate Services, LLC.

The Avenue One project will be one of the largest of its kind in Omaha and is expected to have an annual economic impact of more than $1 billion according to research presented to the State of Nebraska for ranking State directed highway improvement projects that can have the greatest positive economic impact. Construction of the development is anticipated to create more than 8,500 jobs and the completed development is expected to generate more 8,900 permanent jobs.

Avenue One will transform approximately 200 acres of farm ground or an area that equals almost 50 city square blocks into new restaurants, shops, residences and offices across an interconnected, pedestrian-friendly area.

The mixed-use project is located south of 192nd and Dodge St. interchange, south of the Methodist Women’s Hospital and south of the 175 acre Youngman Lake and Park area. The location will feature office, retail, residential, hotel and civic spaces. With more than 7 acres of dedicated public plaza area, 26 acres of green space/ park and more than 6 miles of walking and biking trails Avenue One will be a walkable environment and feature a trail crossing and major investment in Youngman’s Park.

The project will consist of 1.3 million square feet of office and retail space and more than 2,000 residential units and is set to break ground mid to late 2017. Phase one completion of the infrastructure is expected in late 2018. The Avenue One development will be Omaha’s westernmost Dodge interchange yet to be to be developed. Key team members during this Master Planning phase, in addition to those listed above, include HOK (architecture, land planning), Omaha-based Civil Engineering firm Olsson and Associates (engineering, design), Jim Buser of Pansing Hogan Ernst & Bachman (legal) and Todd Richardson of Husch Blackwell (legal) and financing partner Pinnacle Bank.

Visit www.avenueoneomaha.com to learn more about the project or to get involved as a
business or supplier.

About Avenue One
Avenue One will create a unique to suburban Omaha high quality, high density, true mixed-use environment where people work, live, and play and which will serve as a visible and distinctive gateway to west Omaha. The Development Plan will create an activity node that is significantly different from the adjacent activity centers along West Dodge Road by serving not only the surrounding neighborhoods, but also creating a dense true mixed-use new development that includes a distinct combination of employment, shopping, personal services, civic, open space and multi-family in densities and design not currently found in any suburban developments in Omaha.

Tags:    Brad Simma    Aaron Mesmer   Retail Space   Multifamily Real Estate   Block Development Company   Block Construction Services   Block Real Estate Services   BRES