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Planning board approves two downtown TIF redevelopment plans for 340 affordable and senior units
Summary
The board approved plans for the 251 Center affordable housing project (~180 units, ~$56.5M investment) and the Nolla Senior Living project (160 units, ~$36.5M investment) and recommended both for council review; staff endorsed both projects and both passed 5–0.
The Omaha Planning Board unanimously approved two Tax Increment Financing (TIF) redevelopment plans that will deliver roughly 340 housing units across two sites in the city.
Don Seaton of the City Planning Department described the 251 Center project at 25th Avenue and Center Street as a demolition and infill affordable housing effort that will replace two industrial buildings with approximately 180 apartments and 18 rowhouse units; the total project investment was described at about $56.5 million. Rahul Agarwal, a member of the ownership and development group, told the board the team expects financial closing and demolition to begin within weeks and estimated a 21‑month construction timeline.
Seaton also presented the Nolla Senior Living plan at 4809 Redmond Avenue, which rehabilitates an existing ~32,000 ft² former nursing home and adds roughly 100,000 ft² of new construction for a total of about 160 units (136 affordable, 24 market‑rate). The approximate total investment for that project was reported at $36.5 million with TIF support in the range noted in the staff report. Jacob Starns of Straight Line Development answered timing questions and estimated a 20–24 month construction schedule.
In both cases staff recommended approval and the planning board voted 5–0 to forward the plans to city council as part of the required public‑hearing process.
