The city of Omaha is considering approval of a $1.2 billion mixed-use development named “Avenue One” to be located south of 192nd Street and Dodge.
“The approval of this project will be tremendous news for Omaha,” said Curt Hofer, chief executive officer of Jasper Stone Partners, one of the lead investors. “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.”
Jasper Stone Partners has hired Block Construction Services to oversee the project.
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 about 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 project 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. Ground-breaking is set for mid to late 2017.