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Omaha plans for the development of a large condominium and
townhouse complex on the riverfront, officials in Council Bluffs
announced similar plans on the opposite side of the river have
more or less fallen through the cracks.
Developers of the
proposed One Renaissance Center complex failed to provide
proof they could
finance the $72 million project. The DLR Group and Signa
Development Services had been
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Artist's rendering of the proposed twin condominium towers
that were to be the centerpiece of the now defunct 'One Renaissance
Center'. |
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working on financing with American
Invsco, a Chicago luxury condominium developer, but missed an
August 23rd deadline given to them by the city.The planned
community, which included both condos and apartments, had billed
itself as "the Omaha area's most luxurious option for urban
living". Initial plans called for it to cover 13 acres of
Playland Park north of Interstate 480, making it the largest
residential development in the metropolitan area's downtown and
riverfront zones. It now looks as if Omaha itself will be able
to make that claim. Four condo projects are currently under
development in downtown and development plans were recently
announced for Riverfront Place that will be built just south of
Gallup University. Developers for One Renaissance Center had
already purchased park property for the project from Council
Bluffs but the agreement was written so that the city would have
the option of buying it back for the original purchase price of
$500,000. A grant application has already been submitted to the
Iowa West Foundation to buy back the property and create a
development plan for the land. Bluffs officials say access for
the general public should be a high priority and they would like
to incorporate more green space into any riverfront plans. The
proposed pedestrian bridge across the Missouri River is still
planned to anchor on this property so recreation should be a
consideration as well as commercial uses.
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