City of Lincoln
2007 Media Releases
Mayor Coleen J. Seng announced today that Hy-Vee has completed its purchase of property on the north side of O Street between 50th and 52nd streets. Hy-Vee will build a $15 million, 78,000-square-foot supermarket at the site. The seven-acre redevelopment will employ more than 400 people.
The purchase follows agreement among the City and adjacent property owners to complete 50th Street. The redevelopment agreement between the City and Hy-Vee was approved by the City Council. The City will use about $751,000 of tax increment financing generated by the project for public improvements at the site, including a new 50th Street between O and R; storm sewer, sanitary sewer and water line improvements; and sidewalks, street trees and ornamental lighting. Hy-Vee and the other businesses in the area the Quality Suites, Skate World and Doane College will contribute private funds toward the street improvements. Site preparation and construction are scheduled to begin in the spring.
This is an another important step in the redevelopment of the 48th and O street area, said Mayor Seng. Hy-Vee is making a good investment in Lincoln. After years of blighted conditions, the public and public improvements are transforming this key area of our City into a thriving business district once again.
The new store will be more than double the size of the Hy-Vee store at 70th and O streets, which it eventually will replace. It will include one-hour and digital photo service, a drive-up pharmacy, a variety of dining options, an attached wine and spirits store and a bank. The new store will feature expanded departments for fresh-cut meat, organic produce and HealthMarket products, gourmet salads and desserts and much more. The store also will include a club room for classes and meetings and a baby department with organic and natural foods as well as equipment and toys.
The City completed several major construction projects in the area last year. They included the widening of O Street from 44th to 52nd, improvements to 48th Street from M to R and the installation of new water mains. New businesses now open on the south side of O Street are Westgate Bank, Braeda and Runza restaurants and a Walgreen Drug Store.
Hy-Vee, Inc. is an employee-owned corporation operating 223 retail stores in seven Midwestern states.