Mayor Chris Beutler announced today that the City has selected the Lumberworks Lofts, LLC proposal to build three buildings on the west and north sides of the Lumberworks Garage in the West Haymarket. The estimated cost of the project is $11.1 million. The development on Canopy Street between "N" and "O" streets is expected include 48 housing units, 8,000 square feet of office space and 15,000 square feet of retail space. Whitehead Oil is proposing to open a U-Stop Market, a larger version of its convenience stores, in part of the retail space.
Lumberworks Lofts, LLC consists of Speedway Properties and Nelnet, Inc., both of Lincoln. The team is currently building other projects in and around downtown Lincoln, including the Telegraph District. The two companies are also working with additional partners on the new Hudl headquarters in the West Haymarket.
"More and more Lincoln residents are choosing to live in downtown and the West Haymarket," Beutler said. "Many people enjoy living where they can walk or bike to work. The new Hudl headquarters will add to that demand. This project fills two important needs - it adds more housing in a high-demand area, and downtown residents will finally have a grocery store."
"We at Speedway Properties have been committed to saving and redeveloping downtown Lincoln buildings for over 40 years," said Clay Smith, General Partner of Speedway Properties. "Our latest project, Lumberworks Lofts, partners with Nelnet to expand residential and retail options in the Haymarket. We are excited to bring loft-style apartments and a long-awaited grocery store to downtown Lincoln."
A redevelopment agreement outlining the responsibilities of both the developer and the City will be negotiated and submitted to the City Council for approval.