Omaha, NE-Once the heart of Omaha, now an eyesore. Crossroads Mall is one step closer to a multi million dollar facelift.
Thursday, the Mayor's office announced that Developer OTB and the City of Omaha reached a deal signing a memorandum of understanding to develop the area at 72nd and Dodge. The $400 million project would begin this June, with completion scheduled for June 2016.
The city council has to vote to put a bond issue on a May ballot for the project to happen. The first of three readings is this coming Tuesday. The bond would be $50 million, but wouldn't raise property taxes. The money would be used for infrastructure around Crossroads: streets, sewers, sidewalks, utilities and parking.
Maintaining the nostalgia of Crossroads Mall was important, developer Rod Yates said.
"A lot of people in this community had their first jobs here, their parents shopped here, their grandparents shopped here. So we felt it was important to keep Crossroads in the name. We're branding it Crossroads Village," he said.
The development would contain retail, a boutique hotel from the same company of W hotels, yoga and gym space, library space, and luxury condos.
Nearby, business owners are excited about the long awaited news of improvements that will be coming.
"One of the reasons why I chose this spot was because I new this was a great location. And I knew at some point they were going to be doing something with that space," Paddy Tarlton, who owns Bikram Yoga at 76th and Cass said.
"It was gorgeous, As the years past it, businesses left, it slowly died a painful death. We're excited and we'll patiently wait til it's done," Mike Pirruccello, owner of West Lanes Bowling Alley said.