Modern-Day Old Market

Drive east on Center Street and you’ll notice that a landmark of Omaha’s past has been demolished. Yet, at that same site, a landmark of Omaha’s future is now emerging in its place. What was once home to the city’s treasured horse racing grounds is now the site of Aksarben Village, an incredibly unique mixed-use development highlighted by four buildings with office, retail, entertainment, academic and residential elements. The Village encompasses the area between Pine and Center streets, from Aksarben Drive to the west and 63rd street to the east.

Noddle Development Company, overseeing the nearly $300 million project, envisions Aksarben Village as a place where people from business, academia, and the general public can amalgamate and interact. “It’ll be very much like a modern-day Old Market,” describes Jay Noddle, president of Noddle Development. “It’s going to look like a village. Two-, three- and four-story buildings with retail space on the first level, and office spaces and living spaces above.” Upon completion, Aksarben Village will feature: 750,000 square feet of office space; 250,000 square feet of retail space; 500 residences; a five-acre park; a Marriott Hotel; an entertainment district; and conveniently structured parking.

Already a year into its first construction phase, Aksarben Village is steadily and impressively beginning to take shape. Its inimitable character is exhibited by the distinctive loft buildings that allow for retail, commercial and residential uses. Together, the buildings complement the development’s overall theme, with common design features, including bay windows, turrets and high ceilings. However, each building is different than the next, giving inhabitants the opportunity to choose from a variety of layouts.

In September 2008, Aksarben Village welcomed its first tenant, The University of Nebraska Foundation’s Omaha office, which moved from 87th and Dodge. The Foundation is wholly committed to raising funds for the University of Nebraska-Lincoln, the University of Nebraska-Omaha, the University of Nebraska-Kearney, and the University of Nebraska Medical Center. Just a few weeks later in October, Wohlner’s, Omaha’s oldest grocery store, moved in below the Foundation offices and became the area’s first retail occupant. “Compared to our old location on Leavenworth, we have a ton more useful space,” says Wohlner’s owner, Mike Schwartz. “I am third generation. My grandfather started Wohlner’s in 1918. My family is very supportive of Omaha, and we take a lot of pride in what we do. Aksarben Village is a beautiful home for our store, and I really enjoy working here.”

In November, the building just east of Wohlner’s opened, and currently serves as home to Security National Bank and Grubb & Ellis/Pacific Realty, with plenty of space still available. And, soon to open is the 110,000-square-foot building just north of Wohlner’s, at the southeast corner of 67th and Frances streets. The second and third floors will house offices, while the fourth floor will feature offices on the north end, and apartments on the south end. Noddle Company and Olsson Associates engineering firm will occupy all of the second-floor offices. Half of the first floor, which is reserved for retail space, is already leased to Paradise Bakery, Juice Stop, and Godfather’s Pizza. This spring, construction will commence on Building 4, between 64th and 67th on Frances Street. Of the 40,000 square feet, all but 6,000 will be occupied by DLR Group, an Omaha-based architecture, engineering and design firm.

Most notable, perhaps, is the recent announcement that one of Nebraska’s premier businesses will be moving its headquarters to Aksarben Village. In 2011, Blue Cross Blue Shield, our state’s biggest health insurer, will begin leasing the Blue Cross Centre, a $98 million, 315,000-square-foot, 10-story office building. Blue Cross Blue Shield has signed a 25-year lease with Tetrad Corporation, the building’s developer and owner. The new facility will house over 1,000 employees, most of whom are currently spread across three separate locations, including the company’s longtime headquarters at 72nd and Mercy streets.

According to Blue Cross Blue Shield officials, the move offers a number of advantages for both the company and its members. By becoming a lessee, Blue Cross Blue Shield will save up to $2 million a year, enhance its overall efficiency, and better serve its continual growth in members and employees. “Building ownership and maintenance can be time- and resource-intensive, and is not one of our core business competencies,” describes Steve Martin, president and CEO of Blue Cross Blue Shield of Nebraska. “This move will allow us to focus on what we do best-providing health and wellness solutions for our members.”

Also remarkable is the academic presence that will surely be felt in and around the Village. Last June, the University of Nebraska-Omaha broke ground on Mammel Hall, a $31 million building, just south of the Peter Kiewit Institute and just north of Aksarben Village. Mammel Hall, named after an exceptionally generous donor, will be home to the UNO College of Business. “The opportunities that will come from being next to Aksarben Village are tremendous,” says Lee Denker, president of the UNO Alumni Association. “Businesses will be able to utilize the strengths of UNO’s business faculty and students, while the students will be able to capitalize on having so many businesses right across the street.”

In addition to offices and retail businesses, Aksarben Village will feature an entertainment district, located directly to the west of Building 4 on 67th Street. Magnum Development is creating the entertainment zone, which, ultimately, will boast a 12-screen movie theater and a 30,000-square-foot fitness and spa facility. Just to the east of 67th Street, a 4.5-acre park will feature a band shell and stage on its west side, and an expansive green area in the middle with room to seat over 4,000 people. And, those that hope to live in the Village can choose from a variety of loft condominiums and townhouses.

Aksarben Village is not just a strikingly innovative development, but a representation of the entire city of Omaha. When completed, the area will allow its residents and visitors to eat, shop, work and play - while creating an invigorating sense of community. Undoubtedly, Omaha will embrace the new Aksarben as much as it did the old Aksarben, and cherish what has been accurately and appropriately called a Village.

Story by Tony Endelman - Published by B2B Omaha