OMAHA, Neb. (KMTV) - Omaha Mayor Jean Stothert approved a proposal to develop the Civic Auditorium site at 17th and Capitol.
Development group Civic Corner proposes a mixed-use development including multi-family housing, retail, office, parking, and public space.
Officials said the first phase of construction will include 388 apartments, 268 market-rate, and 120 mixed-income.
"Housing options in our urban core are critical to attract new business and talent," said Stothert. "The Civic property is surrounded by new commercial development and there will be even more growth downtown in the coming years. Housing, retail, recreation, and social spaces, connected with multi-modal transit, will complete the vision we have for downtown Omaha."
A Memorandum of Understanding signed by Stothert and developers includes an agreement that the city will sell the property to Civic Corner and specifies a 2023 deadline for the developer to obtain building permits and submit plans.
The agreement also offers tenants of the mixed-income housing unit access to 150 parking spaces at reduced rates in Park 5, the city-owned garage at 19th and Capitol.
The Civic Auditorium site is within a redevelopment area and will be eligible for Tax Increment Financing (TIF).
Demolition of the Civic Auditorium was completed in 2017 to prepare the site for future development.