A new $1.2 billion mixed use development is ready to grow this coming spring on the far west side of Omaha, Neb.
West Farm will be a 500-acre live-work campus that over the next 15 years will include 1500 apartments, 140 townhouses, and 440 single-family homes, a hotel, and 1.36 million square feet of office space. Daily population is estimated to be 15,000 people.
An outdoor mall will anchor some of the planned half-million square feet of retail space. Developers are planning on the hearty Nebraskan lifestyle to make use of walking and biking paths, parks, water features and open spaces that are designed with on-foot traffic. Approximaely 20 percent of the development will be green space and 120 trees original to the property have been preserved to be replanted when construction is complete.
The West Farm site was once part of the famed Boys Town Village. Developer Noddle Companies bought the property from the DeMarco family and Boys Town. Boys Town still operates as a home and educational center for at-risk children and young people in the same tradition as when it was founded by Father Edward Flanagan in 1917.
Earlier reports in the Omaha World-Herald said the land transaction was nearly $65 million and when completed the property value will rise by $1.2 billion.
To pay for the $20 million of road projects and $48 million streets and sanitation on the project, Omaha has established a sanitary and improvement district (SID). Under the designation, tax-exempt bonds can be sold to raise funds for new infrastructure, and special taxes can be set for the area. In the past, once the debt of the district has been paid down, Omaha annexes the area.
One of first buildings to start off the 15-year project will be 250,000 square feet of offices on Applied Underwriters’ 55-acre campus with a construction start slated around March. The company plans those offices to be ready in 2020 for up to 800 employees.
Master planning has been handled by Omaha's HDR Architects and designs are from SB Architects of San Francisco.