Omaha, Nebraska – Omaha, Nebraska’s most populous city, is in the process of allocating $12 million for a land acquisition, a pivotal move in an extensive ongoing initiative to establish an industrial business park in the northeast region of the city.
A purchase agreement for a 67-acre parcel of land near 14th and Locust Streets is to be presented in this week’s Omaha City Council meeting. The document’s specifics are somewhat sparse, but it does mention that the land is intended for future economic development and the establishment of “new street infrastructure” and “right of way.”
Senator Justin Wayne of Omaha disclosed one principal motivation behind the transaction is the anticipated business park. Once fully developed and populated by various businesses including manufacturers and distributors, it is expected to create numerous employment opportunities within one of Nebraska’s most economically underprivileged areas.
Sen. Wayne stated, “This is a first step toward developing the business park in North Omaha.”
Over the last couple of years, the Nebraska Legislature has set aside $90 million to develop at least one, possibly two, business parks in the North Omaha region, within proximity of Eppley Airfield. This allocation was included in the Nebraska Economic Recovery Act, passed in 2022 and updated in 2023.
The act envisions an investment of approximately $400 million into economically distressed North and South Omaha neighborhoods. One of the largest individual project funds was allocated for the business park project. Sen. Wayne, co-sponsor of the Economic Recovery Act, said the funds could potentially be split across two business park locations, though the second location has not been disclosed yet.
An aide to Mayor Jean Stothert mentioned on Monday that the city plans to collaborate with an unnamed developer who will be granted the state funds to develop the business park on the proposed site.
Carrie Murphy, a spokesperson for the city, further added that the city intends to add a northern truck route to the existing truck route system in and around north downtown. This new route will provide direct access to the upcoming park.
The land under consideration, currently owned by Enterprise Industrial Park LLC, is bordered by Locust Street on the south, Cornish Boulevard on the north, Carter Lake Shore Drive on the east, and a jagged boundary that runs from 14th to 16th Streets on the west.
As stated in the proposed agreement with Enterprise representative Thomas Egan Jr., the deal will undergo a thorough review and due diligence process by the city. This includes addressing environmental concerns due to the area’s history as a railroad yard and a construction debris dump site.
Despite previous interest from the city in 2012, under Mayor Jim Suttle’s administration, the potential for a business park was abandoned due to environmental cleanup and infrastructure demands that exceeded projected costs.
In 2019, a private entity led by Egan purchased the land from the previous owners, providing lease to outdoor storage and industrial users.
While the city and local Chamber of Commerce leaders continued their search for an ideal business park location, significant developments have occurred in the city’s core. These include the ongoing construction of a $600 million Mutual of Omaha business tower and other mixed-use areas such as the Builder’s District and Millwork Commons.
In the meantime, millions of dollars from the Economic Recovery Act are awaiting distribution to nonprofit and other organizations that will be tasked by the Department of Economic Development with carrying out various projects in North and South Omaha neighborhoods.
The proposed ordinance and purchase agreement are set to be read at Tuesday’s city council meeting, with a final hearing and vote expected to occur on July 25.
