City of Lincoln
2007 Media Releases
Mayor Coleen J. Seng today accepted an advisory board recommendation and authorized the City to begin negotiations with Lincoln Synergy Group to redevelop part of the downtown block bounded by 13th, 14th "P" and "Q" streets.
Lincoln Synergy Group proposes a $180 million project including a 22-story tower with a parking garage for 726 cars, a 150-room hotel, 104 apartment condominiums and more than 140,000 square feet of office and retail space on the southwest corner. The proposal also includes an 18-story tower across the street on the northwest corner of 14th and "Q" streets. It would house a garage for 702 cars, 245 retirement housing units, 17,000 square feet for the University of Nebraska - Lincoln and 14,5000 square feet for retail.
"We call this the Catalyst Project because it will spur more development downtown," said Mayor Seng. "This major investment will change our skyline and result in even more economic development in our City core. The Lincoln Synergy Group proposal embraced that vision with its proposal to build the towers."
Mayor Seng also thanked Dial Realty Corp. for its $45 million proposal, which included a 13-story building with parking for 600 cars, a 112-room Residence Inn by Marriott, 14 condominiums, a sports bar and entertainment complex and a smaller building with office and retail space.
The Lincoln Synergy Group is a partnership between Lincoln developer Monte Froehlich and several out-of-town investors. Froehlich is with U.S. Property and owns properties on the redevelopment block, including the site of the former Taste of China. The Taste of China and Wasabi restaurants are relocating, and the former buildings will be torn down next month in preparation for the project. The rest of the project site already has been cleared. Other plans for the block include a civic plaza at the vacant corner of 13th and “P” streets where the former Douglas 3 Theatre building stood.
The City will begin negotiations with the Lincoln Synergy Group immediately and prepare a redevelopment agreement that the City Council will consider.
The 11-member advisory group that made the recommendation included representatives of the downtown community, the Mayor’s Office, the City Urban Development Department and the Chamber of Commerce.