Mayor Chris Beutler announced today that the City has selected a development team for the City-owned "Catalyst" site on the south side of "Q" Street between 13th and 14th streets. The Urban 38 team, which includes local developer WRK, submitted a plan that includes retail and residential space as well as public parking. Urban 38 also includes nationally known developers Woodbury Corporation and Colmena Capital.
After the City received a proposal from Urban 38 in August, additional proposals were accepted until October 30. A second proposal came from Synergie Group of Des Moines, and the City met with both groups before making its selection.
Urban 38 will work to revitalize this very important part of downtown with some much needed downtown housing and retail," Mayor Beutler said. "The project will include a City parking garage built along with the private project for a total investment of about $27.1 million. We believe this proposal fits the site well and also fits into the urban design character of downtown Lincoln.
Urban 38's proposal includes 20,000 square feet of retail space at the street level; five floors of parking with 547 stalls; and three floors of housing with 48 units. WRK and Woodbury are also partnering on a hotel project at 8th and "R" streets as well as a $100 million mixed-use development in conjunction with Lincoln Haymarket Arena.
Our team is very excited for the opportunity to collaborate with the City of Lincoln on a project that is so instrumental to the vitality of the area," said Zachary Wiegert, Woodbury lead developer. "This development will enhance the connectivity between our Capital City and flagship University. We hope this redevelopment will attract new investment and renewed interest in downtown Lincoln.
Colmena Capital's portfolio includes more than 9,000 residential units and $2 million square feet of office space. Other members of the Urban 38 team include Sinclair Hille Architects; Kiewit Building Group; Carl Walker Inc.; Engineering Technologies; and C & C Consultants.
This site was originally identified in the Downtown Master Plan for a major project that would tie into the proposed Civic Plaza at 13th and "P" streets. In 2007, the City began negotiations on a redevelopment agreement for the Catalyst site with the Lincoln Synergy Group, but negotiations ended due to the economic downturn.
The Mayor said the City will meet with the Urban 38 team next week to work on a project time line with the goal of beginning construction next year.