Mayor Stothert announces redevelopment plan for Crossroads Mall

OMAHA, Neb. (KMTV) - The City of Omaha announced a joint venture with two development companies to redevelop Crossroads Mall at 72nd and Dodge.

Mayor Stothert says it has been a long road to get to this point with Lockwood Development and Century Development.

"I've been Mayor seven years," Stothert said. "We've been working on it a lot longer than that. We've had different designs and different renditions of it, but this is the one that I think we all feel is going to be the winner."

The City of Omaha is contributing $12.5 million in redevelopment bonds to the total $500 million cost.

Lockwood Development plans to apply for tax increment financing.

"I want a legacy for this corner of the city of Omaha," President of Century Development Frank Krejci said.

The development will include retail, multi-family apartments, a hotel, office use, underground parking, a dining district, family-fun space and transportation. A rooftop bar is also planned.

"There wants to be something here for everyone in Omaha, so we want live, work, and play," President of Lockwood Development "Chip" James said.

The plan is to recruit unique retailers and businesses to separate the project from Aksarben Village. It's hoped the two areas will compliment each other.

"It sounds pretty exciting on it's face," Omaha resident Jacob Eyth said. "To get some fresh development, especially on one of the busiest intersections in town... to have just nothing here is just a killer for the City."

Summer McClure, a fresh face to Omaha, had a few ideas.

"Maybe a bowling ally or a movie theater or a skate park," McClure said. "An indoor skate park would be really cool."

The space is also meant to symbolize how 72nd and Dodge is still an iconic crossroads in Omaha.

Demolition is planned for this October. It's hoped the project will be done in the summer or fall of 2024.

There will be some minor traffic changes in the area of 72nd and Dodge due to the redevelopment.

Watch the announcement below or click here.