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Council approves $6.51 million TIF for Oxford Apartments, developer pledges historic reuse
Summary
The City Council approved tax-increment financing up to $6,511,697 for the Oxford Apartments, a proposed $43 million, 194-unit market-rate project on an infill site near 26th–27th and Leavenworth; developers plan to retain and renovate a former Alameda Dairy building and to remediate contaminated soils.
The Omaha City Council on Jan. 14 approved a redevelopment plan providing tax-increment financing (TIF) of up to $6,511,697 for the Oxford Apartments, a proposed 194-unit apartment building near 26th and Leavenworth Streets.
Why it matters: The developers described the project as a $43 million investment on roughly 1.6 acres that reuses the historic Alameda Dairy cold-storage building as community space and addresses significant environmental remediation needs on the former dairy site. The council approved the project unanimously, 7–0.
Project details and developer remarks: Don Seaton of City Planning said the project would be 4–5 stories and include 194 market-rate units. “It’s a 43,000,000 investment in the neighborhood,” Seaton said. Developer Tom McClay told the council the project includes retention and rehabilitation of the historic cold-storage warehouse to serve as a leasing and community space and that contractors already have removed contaminated materials from the site. “We ended up digging already about a 30-foot pit...to start taking out some of that contamination,” McClay said.
Public comment: Cheryl Weston of 1124 Pacific Street urged the council to require or propose more affordable units, citing local shortages of housing affordable to households earning roughly $30,000–$40,000 annually. Council members debated affordability but several members, including Council Member Harding and Council Member Rowe, said adding market-rate supply can help overall housing availability by enabling moves along the housing ladder. McClay and staff said tax-increment financing was necessary to address environmental remediation and site constraints that make the project unfeasible without public assistance.
Funding and conditions: Seaton noted the project’s TIF support and that the site is within the urban core housing and mobility district; he said the project will include a contribution to the streetcar system. The council approved the redevelopment plan by roll-call vote with no dissents.
Next steps: Developers will proceed with required construction permits and environmental remediation; any final TIF disbursements and agreements will follow city procedures and reporting requirements.
