The Crossroads (72 & Dodge)

RNcyanide · Post by **RNcyanide** » Sat Mar 14, 2015 9:44 pm

iamjacobm wrote:
RNcyanide wrote:
iamjacobm wrote:Per Grow Omaha the plans now include adding a couple hundred apartments on top of the existing parking garage, that will really be a great way to add a vertical presence to the development. They also said the office and retail is about half spoken for with demo starting in May.
Would that garage support a couple hundred apartments?
I would imagine the engineers they paid said yes.

I have my doubts, but I'm no engineer.

ryan311 · Post by **ryan311** » Tue Mar 24, 2015 9:51 pm

I've been told that the Best Buy location will be relocated by this upcoming Holiday season. Maybe this development really will happen.

iamjacobm · Post by **iamjacobm** » Tue Mar 24, 2015 9:56 pm

ryan311 wrote:I've been told that the Best Buy location will be relocated by this upcoming Holiday season. Maybe this development really will happen.

It would be great if thy took the old Bag & Save space. That location is way more visible from Dodge anyways.

MTO · Post by **MTO** » Mon Apr 06, 2015 1:30 pm

The mayor on the Grow Omaha podcasts covered this project and inferred to some of its complexities. She also said demo would start by years end. But we heard that before.

Greg S · Post by **Greg S** » Tue Apr 07, 2015 9:18 am

Years end seems like this thing is really, really getting bogged down. I had some hope when they scaled back and were going to do it in waves. At least they have not had a ground breaking yet.

Greg

skinzfan23 · Post by **skinzfan23** » Tue Apr 14, 2015 8:39 am

Sounds like Cedar Rapids, IA is having some of the same problems as Omaha. Granted the Crossroads development is a much, much larger scale, but now in Cedar Rapids, the developer is asking for more public assistance. The only positive there, the mall has been torn down except for Pennys and Younkers. The positive at the Crossroads is that the mall space is still being partially occupied.

Westdale Mall developer asks for more upfront money to keep construction going
Cedar Rapids committee to review request for $11.5 million

Developer John Frew is asking the city for $11.5 million more in upfront public money to keep his $90-million-plus transformation of the Westdale Mall moving ahead.

Sufficiently significant is the request that City Manager Jeff Pomeranz is asking the City Council on Tuesday to create a Special Westdale Review Committee to study the project's progress, review Frew's request to modify his existing 2-year-old development agreement with the city and make recommendations to the council on Frew's request for more money upfront.

Post by **Brad** » Thu Apr 30, 2015 10:39 am

Plans, funding in flux for new Crossroads redevelopment at 72nd, Dodge

http://www.omaha.com/money/plans-fundin ... 1e662.html

Barbara Soderlin / World-Herald staff writer wrote:A redeveloped Crossroads Village at 72nd and Dodge Streets won’t be open until at least spring 2017. Plans for the eagerly awaited mixed-use project are still evolving, and public funding is still in negotiation.

skinzfan23 · Post by **skinzfan23** » Thu Apr 30, 2015 11:21 am

Here are some quotes from the article.:

Developer Rod Yates is negotiating with city officials on a three-pronged incentive package that he said is essential to funding the $275 million project. A combination of tax-increment financing, a business improvement district tax and an “occupation tax” on businesses there is being proposed to finance about one-third of the project,

Plans now call for 450,000 square feet of retail and restaurant space, 125,000 square feet of office space and 400 residences. The living space would sit atop the existing parking garage, Yates said Wednesday, and the parking garage would also be used by office workers. New parking for shoppers would be built underground, closer to shops.

New retail buildings just west of Target and along Dodge Street would be open in spring 2017, with more of the project complete for the holiday shopping season that year.
Yates has been traveling the country this spring pitching the project to retailers. He mentioned Crate & Barrel, Restoration Hardware and Apple as retailers he aspires to bring to the center, along with a “theater experience.” Businesses already announced as part of the project include outdoors outfitter REI and grocer Fresh Thyme.

From the last article in Oct 2014 it was stated that only 350,000 sq ft of retail and restaurant space would be built in the first phase. I wonder if the now-proposed 450,000 sq ft is all in the first phase of the project. I also noticed that it mentioned the residences would sit atop the parking garage and parking for the new shops will be underground. I haven't heard anything about underground parking, but that would be a bonus.

iamjacobm · Post by **iamjacobm** » Thu Apr 30, 2015 12:05 pm

This development is sort of a moving target is seems. The public incentives are what will probably define what kind of project we get. I like the idea of using an occupation tax so those who would wish to avoid paying for a private development could simply avoid the development.

Greg S · Post by **Greg S** » Thu Apr 30, 2015 1:14 pm

They just seem bound and determined to get more public money for this. Gretna spoiled them.

Greg

skinzfan23 · Post by **skinzfan23** » Thu Apr 30, 2015 1:21 pm

Also noticed that the layout has changed a little again, probably after the Best Buy property was taken into account.

RNcyanide · Post by **RNcyanide** » Thu Apr 30, 2015 1:41 pm

That's what L Street Marketplace should have looked like.

Linkin5 · Post by **Linkin5** » Thu Apr 30, 2015 2:01 pm

Did someone say L street Marketplace?

MadMartin8 · Post by **MadMartin8** » Thu Apr 30, 2015 2:07 pm

Linkin5 wrote:Did someone say L street Marketplace?

Also, If they're begging for more public money, you might as well stick a fork in this project for the near and mid future.

bigredmed · Post by **bigredmed** » Thu Apr 30, 2015 2:58 pm

Public money without public profit is a non-starter.

I define profit as actual money that is more than we had to start. If I invest 100 dollars and I get 105 back, I get 5 dollars of profit. If I invest 100 and you get 105, and I get to listen to happy talk about progress, then I am still out 100 bucks and you still got 105 bucks that I paid for.

daveoma · Post by **daveoma** » Fri May 01, 2015 1:01 am

Why doesn't the developer build out in well planned phases like Aksarben Village? That way the development is determined much more by the market and not so reliant in public money to hedge their risk on one or two grand constructions.

skinzfan23 · Post by **skinzfan23** » Fri May 01, 2015 8:27 am

daveoma wrote:Why doesn't the developer build out in well planned phases like Aksarben Village? That way the development is determined much more by the market and not so reliant in public money to hedge their risk on one or two grand constructions.

I agree. Has Aksarben Village even asked for any assistance. Maybe they have but I haven't heard much about it.

NovakOmaha · Post by **NovakOmaha** » Fri May 01, 2015 8:46 am

I think they tiffed all over the place

skinzfan23 · Post by **skinzfan23** » Fri May 01, 2015 9:07 am

skinzfan23 wrote:Sounds like Cedar Rapids, IA is having some of the same problems as Omaha. Granted the Crossroads development is a much, much larger scale, but now in Cedar Rapids, the developer is asking for more public assistance. The only positive there, the mall has been torn down except for Pennys and Younkers. The positive at the Crossroads is that the mall space is still being partially occupied.

Westdale Mall developer asks for more upfront money to keep construction going
Cedar Rapids committee to review request for $11.5 million

Developer John Frew is asking the city for $11.5 million more in upfront public money to keep his $90-million-plus transformation of the Westdale Mall moving ahead.

Sufficiently significant is the request that City Manager Jeff Pomeranz is asking the City Council on Tuesday to create a Special Westdale Review Committee to study the project's progress, review Frew's request to modify his existing 2-year-old development agreement with the city and make recommendations to the council on Frew's request for more money upfront.

The Cedar Rapids city council voted to guarantee the $11.5 million loan to the developer. I think that is quite a risk to make. In this case, if they didn't, the land may sit undeveloped for years. Overall, only time will tell if that was a smart move. I find it hard to believe that it was at this point.

I am glad that Omaha isn't just signing on the dotted line to hand out for the Crossroads project. Like many of you, I want to see it happen, but not at the expense of taxpayers.

iamjacobm · Post by **iamjacobm** » Sun May 03, 2015 3:50 pm

I think the issue with phasing here is the fact that retailers want foot traffic and they want neighbors this is true in enclosed malls and outdoor ones. Retail has become the main focus here and retail works differently than the very office heavy A/V.

daveoma · Post by **daveoma** » Mon May 04, 2015 1:06 am

I'm not a real estate expert but I think part of the issue here is the focus on retail. There's already tons of retail and restaurants nearby. This is a great location in which to live...you're 10 mins away from downtown, 5 minutes from Aksarben village and the Westroads, and NFM, the Keystone trail, the bus line, and the biggest international grocer in Omaha are within walking distance. It seems to me the emphasis should be on residential. Thoughts?

MTO · Post by **MTO** » Mon May 04, 2015 12:27 pm

For what it's worth Trenton from the Grow Omaha show blurbed out this will happen.

GetUrban · Post by **GetUrban** » Mon May 04, 2015 1:44 pm

I won't believe you or him until I see some dirt being moved. ;-)

MTO · Post by **MTO** » Mon May 04, 2015 1:47 pm

Well he could have been easily bribed with a big mac so..

MadMartin8 · Post by **MadMartin8** » Mon May 04, 2015 2:26 pm

MTO wrote:For what it's worth Trenton from the Grow Omaha show blurbed out this will happen.

Joe_Sovereign · Post by **Joe_Sovereign** » Tue May 05, 2015 10:45 am

I doubt so much public funding is actually needed this is incredibly valuable real estate for office, retail or residential. A phased approach would probably be very succesful.

Greg S · Post by **Greg S** » Wed May 06, 2015 7:48 am

Yeah I think they've got enough on the public side. Gretna gave them so much only because they were on the clock against the possible outlet development by Cordish near Cabela's.

Greg

Joe_Sovereign · Post by **Joe_Sovereign** » Thu May 14, 2015 1:53 pm

So is it offical now that demo is not starting in May? We are half way through the month and nothing is happening?

iamjacobm · Post by **iamjacobm** » Wed Jul 22, 2015 4:56 pm

Blurb on KETV has Yates saying he still wants phase 1 to be open for holiday shopping season 2017.

MTO · Post by **MTO** » Wed Jul 22, 2015 5:39 pm

Then demo should start now.

Post by **Coyote** » Wed Jul 22, 2015 7:40 pm

Developer discusses Nebraska Crossing Outlet expansion plans

KETV wrote:Despite any evidence of demolition and construction, Yates said he wants Crossroads Village to be open for holiday shopping in 2017. "Groundbreaking hopefully this fall, but grand opening for the Crossroads Village would be holiday of 2017," Yates said.

MTO · Post by **MTO** » Wed Jul 22, 2015 8:51 pm

How in the FUÇK is that going to happen!

RNcyanide · Post by **RNcyanide** » Wed Jul 22, 2015 9:02 pm

Coyote wrote:Developer discusses Nebraska Crossing Outlet expansion plans

KETV wrote:Despite any evidence of demolition and construction, Yates said he wants Crossroads Village to be open for holiday shopping in 2017. "Groundbreaking hopefully this fall, but grand opening for the Crossroads Village would be holiday of 2017," Yates said.

PotatoeEatsFish · Post by **PotatoeEatsFish** » Thu Jul 23, 2015 12:33 am

Watch as the idea sits dead for another 6 years till they decide to work on it.

GetUrban · Post by **GetUrban** » Thu Jul 23, 2015 12:22 pm

RNcyanide wrote:
Coyote wrote:Developer discusses Nebraska Crossing Outlet expansion plans

KETV wrote:Despite any evidence of demolition and construction, Yates said he wants Crossroads Village to be open for holiday shopping in 2017. "Groundbreaking hopefully this fall, but grand opening for the Crossroads Village would be holiday of 2017," Yates said.

The key word there is "wants."

MadMartin8 · Post by **MadMartin8** » Thu Jul 23, 2015 2:42 pm

iamjacobm wrote:Blurb on KETV has Yates saying he still wants phase 1 to be open for holiday shopping season 2017.

And I would like to be the King of England, but that ain't happening either.

iamjacobm · Post by **iamjacobm** » Thu Jul 23, 2015 2:45 pm

Not that unreasonable considering retail buildings take very little time to throw up.

MSizlack · Post by **MSizlack** » Thu Jul 23, 2015 5:49 pm

Sounds like some of the large retailers who where looking at the CrossRoads redevelopment, are now talking with someone else who is looking to built out by the Target on West Maple. Made it sound like there are plans to buy up the mobile home park. This info could/should also be put in the rumors area.

MTO · Post by **MTO** » Thu Jul 23, 2015 6:48 pm

That would suck a fat one if they landed out there. Hope this lights a fire and gets the dirt flying on crossroads.

iamjacobm · Post by **iamjacobm** » Thu Jul 23, 2015 7:56 pm

Funding for infrastructure here still planned for 2016.