LINCOLN, Neb. (KOLN) - Lincoln City Council held a public hearing Monday afternoon on a proposed $92 million redevelopment of the Journal Star building.
The City Centre project includes land currently owned and occupied by Journal-Star Printing Co. at 926 P Street.
Tom Huston of Cline Williams Wright Johnson & Oldfather, L.L.P. said he showed the renderings to the council so members could see, "How large a 10 story building would be on the site. It is a prominent block in downtown Lincoln and the new design is very interesting and will be a landmark building in downtown Lincoln."
Huston said "he hopes to have this project done in 20 months," after the building demolition starts. He hoped demolition would start in the fall of 2017.
Urban Development Director David Landis said if the project is approved it would be Lincoln's single most expensive building.
Documents submitted to the city council outline:
-The ground floor will consist of approximately 35,000 square feet of retail space, the third and fourth floors will include 89,000 square feet of Class “A” commercial office space, while floors five through eleven (7 floors) will consist of approximately 245 market-rate residential units.
-Parking would include 100 below-grade parking stalls available for the retail employees and customers and 140 parking stalls on the second floor to serve the tenants of the office space.
-The project includes approximately $12 to $14 million in public financing through tax increment financing.
Huston told 10/11 he didn't think parking would be a problem for the development. However, council members expressed concerns to him during the public hearing.
The developers said the building will be an urban feel and high end living for professionals.