Development to boom on Pacific Street campus

Over the next few years, the development area next to UNO's Pacific Street campus will take on a whole new feel.

Aksarben Village, the area between Pine Street and West Center Road from Aksarben Drive to 63rd Street, is aiming to become a midtown Old Market for the Omaha community.

The village will be a blend of residential areas, office buildings, stores, restaurants, movie theaters and a hotel. It will also feature a new public park.

"The goal of Aksarben Village is to try to create a community asset that will be able to last for the next 100 years," said Jay Noddle, the lead developer of the project and president of Noddle Companies, at an informative meeting on campus June 5.

Four other companies are also collaborating with Noddle: Magnum Development, RWH Development, Broadmoor Development and Hancock/Alchemy.

"With the cooperation of UNO and other surrounding areas, all of the sudden the planning area was much greater than just the 80 acres, in fact the area now totals just over 200 acres," Noddle said. "Hopefully, everyone realizes how important the university has been to this development. This would not be happening if UNO wasn't doing the things they are."

Magnum Development is responsible for the design and construction of an Aksarben Village entertainment center named Zone 5. The center will house a 12-screen movie theater, restaurants, bowling alley, arcade, bars and fitness center.

"By the third quarter to the early fourth quarter of 2009 we will see the first occupants of the entertainment zone open for business," Noddle said.

The village will also have a community lawn area with seating for up to 4,000 people, a performance shell, water features and gardens. A 90-foot tower will serve as the focal point of the area.

Aksarben Village is being built on the site of the historic Ak-Sar-Ben race track and will include approximately 750,000 square feet of space dedicated to office and research, 250,000 square feet to retail and entertainment uses, and nearly 500 housing units while attempting to retain the historical feel of the old Ak-Sar-Ben property, Noddle said.

Christine Stehno, a sophomore broadcasting major, said she thought the project was exactly what midtown Omaha needed.

"It'll be really good for this area, especially being so close to campus. I think it will be a nice place for college students to go, live or even just hang out. I think it will be very convenient and the college will really benefit from it," Stehno said.

The entire project is estimated to cost more than $370 million, which includes all infrastructure, office, retail, residential, hospitality and academic investments. With construction underway, the estimated completion date will be in 2011 or 2012.

"These kinds of projects happen once in a community. … We are going to have a heck of a place," Noddle said.

Source - Jillian Whitney - Gateway