Construction is still underway, but here's a peek at the $205 million Capitol District project in downtown ‪Omaha‬.

by DWS Blogger | Nov 09, 2015

Construction is still underway, but here's a peek at the $205 million Capitol District project in downtown ‪#‎Omaha‬http://ow.ly/TTZHe

(And we are thrilled to be a part of it!) 

Here's the scoop courtesy of the Omaha World-Herald:

The $205 million Capitol District project will include a 333-room, full-service Marriott hotel, 225 apartment units, 125,000 square feet of office space and a large central plaza that could host large outdoor events.

Officials including Gov. Dave Heineman, Mayor Jean Stothert and City Councilman Ben Gray said the project will help the city attract major conventions and sporting events and provide a more visible link between north downtown and the Old Market.

Randy Thelen, the Greater Omaha Chamber of Commerce’s senior vice president of economic development, said adding the project to the city’s skyline will have a far-reaching effect on companies and visitors looking to relocate to the city.

Kicking that off during a major event like the College World Series, he said, helps broaden that audience.

“It sends a message that Omaha is not coasting,” he said. ‘We are not standing still. We are racing ahead.”

Mike Moylan, president of Shamrock Development, said he intends to have the hotel up and running for the 2016 U.S. Olympic Swim Trials, which will again be held at the CenturyLink Center — just across the street from the Capitol District.

The city and the Metropolitan Entertainment and Convention Authority selected Shamrock to redevelop the site — currently used as MECA parking lots — in 2011. Moylan’s goal at the time was to have the project completed by the end of 2014.

Progress was initially slow as Shamrock worked to find a hotelier willing to open a full-service facility and land financing. At Friday’s ceremony, Moylan pointed to assistance he received from Heineman in securing foreign financial backing for the project.

“We did open a Nebraska office in China, and as you can see, it’s already paying dividends,” the governor said. “They are providing, I think, more than $25 million in investment for this project. They played a critical role in the development of this project and it’s a great example of the importance of establishing trade offices around the world.”

The Omaha City Council has approved up to $35 million in tax-increment financing for the project. Moylan has said he may also seek approval of a special occupation tax for the development. He’s also interested in making the Capitol District Omaha’s first-ever entertainment district.

If the council approved that designation, people would be able to openly carry alcoholic beverages in the development’s open plaza space.

Moylan has not yet announced any retail or corporate tenants for the project.

cc: Omaha World-Herald and Shamrock Development, Inc.

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