$290 million plan proposed for Omaha’s Riverfront Revitalization

Nebraska– Omaha’s Riverfront Revitalization Planning Committee is proposing a $290 million plan to revitalize the city’s downtown riverfront. The master plan includes a walking promenade stretching to the Missouri River, spacious lawns, an ice skating rink, water plaza and dog park.

 

The project will create a 90-acre park along the Gene Leahy Mall and river, from the marina near the Bob Kerrey Pedestrian Bridge south to The Breakers apartment complex at Leavenworth Street. The city’s philanthropic community has verbally dedicated more than $150 million and the city plans to issue $50 million in lease-purchase bonds for the project. Construction will depend on permitting and approvals but could begin as early as mid-2019 with estimated completion in 2022.

Los Angeles considers P3 for $708M Civic Center

California– The former Los Angeles Police Department headquarters, Parker Center, will soon be developed into a new Civic Center Building. The total cost of the project is now slated at $708 million. The city’s Municipal Facilities Committee has recommended that the city pursue a public-private partnership (P3) to oversee construction, financing and maintenance of the new building. Plans call for erecting a 27- to 29-story tower offering 753,740 square feet of office space and underground parking for 1,100 vehicles.

 

The cost of construction, maintenance and operation of the proposed building is projected to range from $915 million to $943 million over three decades, at which point the building would shift to city control. The new building is the first phase of Los Angeles’ Civic Center Master Plan, approved by the city council in March. The plan calls for six phases of development to bring 1.2 million square feet of additional office space, along with residential options and retail hubs to the area. The approved proposal calls for demolition of the existing structure by December 2019, and an estimated completion of the new construction by 2023.

Four years and $534M approved for New Lehigh transportation plan

Pennsylvania– The Lehigh Valley Transportation Study approved $534 million of transportation funding as part of the Transportation Improvement Program (TIP). Every two years, the Lehigh Valley updates its TIP, which establishes a maintenance schedule for bridges, roads and public transportation. In effect, the TIP confirms funding for existing projects and sets up money and timetables for new ones.

 

The plan includes $50 million to widen and improve portions of Route 22; more than $80 million in work along Route 309; and more than $30 million to widen the Lehigh River Bridge to MacArthur Road by 2020 and to design and acquire the rest of the road between 15th Street and Airport Road. The full plan includes 58 road projects, 57 bridge projects and several railroad improvements to be completed between 2019 and 2022. Overall, $244.3 million would be allocated for road projects; $144 million to repair or replace bridges; and $145.8 to fund the Lehigh and Northampton Transportation Authority. Funding for the project is generally 80 percent federal and 20 percent state. The Lehigh Valley Planning Commission and the Pennsylvania Department of Transportation oversee the projects. Most of the money comes from the federal government, with the state and local municipalities picking up the rest.

CRA ready to begin second phase of Marina Village project

Florida– The Riviera Beach Community Redevelopment Agency (CRA) has issued a request for proposals (RFP) for a master developer for Phase II of the waterfront Marina Village. The Riviera Beach Marina Village is a 23-acre area between the Intracoastal Waterway and U.S. Highway 1. The city and CRA have spent about $35 million on this site in preparation for redevelopment. Plans for the second phase call for a mixed-use project that includes a hotel, additional restaurants and shops that will sit on about 6 acres located within the interior of the district, which fronts the marina.

 

A pre-submittal conference, which is mandatory for anyone submitting a proposal, is set for May 14 at the Marina Event Center. The RFP is due by May 31. In May 2017, the Riviera Beach CRA adopted new objectives that reset Marina Village’s master plan to clarify the city’s interest, plan, approach and priorities. The CRA is now seeking a development partner with experience and a successful track-record in planning, designing, constructing, leasing, operating and marketing mixed-use real estate ventures. The goal is to open the second phase by the spring of 2021.