$1B Omaha pedestrian-oriented development under construction
- Construction is underway on a $1 billion mixed-use project in Omaha, NE, that sets aside 20% of the development for public use and green space, according to The Architect's Newspaper.
- The 500-acre West Farm project, developed by Noddle Companies, will include more than 2,000 residences; 2 million square feet of office, retail and entertainment space; walking and biking paths; public plazas and water features, all anchored by an outdoor mall. The development, which project officials expect 15,000 residents, visitors and workers to use each day, will take approximately 15 years to complete.
- The city designated West Farm a sanitary and improvement district (SID), and will help pay for the installation of infrastructure around the project by selling tax-exempt bonds and imposing new taxes. After the SID debt is paid down, the city of Omaha could annex the development.
West Farm joins the ranks of other $1 billion or more mixed-use mega-developments under construction or entering the planning stages this year. Some are anchored by modern sports stadiums, while others line the shores of lakes or rivers, creating a desirable waterfront live-work-play environment.
Last month, developer North American Properties announced that it would build a $2.5 billion, 5-million-square-foot development — with a hotel, marina, residences and offices — on a brownfield site along the banks of the Raritan River in Sayreville, NJ. The 418-acre property was home to a former lead paint pigment operation, and is one of the state's biggest brownfield remediation and reclamation projects, according to NJ.com. North American Properties still must secure state and local approvals before moving forward with construction.
The Rams' and Chargers' new $2.6 billion football stadium in Inglewood, CA, will be the centerpiece of the massive LA Stadium & Entertainment District at Hollywood Park, but the schedule has hit a few snags, which have pushed its opening to the 2020-2021 NFL season.
After a lengthy review process centered around the stadium's height and the potential for the structure to interfere with air traffic at nearby Los Angeles International Airport, the Rams agreed to pay $29 million for additional radar equipment. The project was also delayed by a particularly active rainy season. Project officials said AECOM-Hunt lost two months to the weather.
- The Architect's Newspaper Billion-dollar neighborhood development begins in Omaha
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