Two large commercial projects developing in Nebraska

Proposals are in for a new rail line in Nebraska.

Two major commercial real estate developments are rushing forward in Nebraska, though one has already broken ground while the other continues to finalize plans.

In Omaha, Neb., a vacant office building has been demolished in order to make room for a new six-story medical office, according to the Omaha World-Herald.

Construction for the medical office is slated to cost $42.6 million and employ around 300 workers, most of which would have "highly skilled jobs," according to the developer.

The project will receive $4.7 million in tax-incrementing financing after recently winning the City Council's approval.

The lay of the land
The project will use the demolished building lot along with the two lots across the street to construct the 120,000-square-foot building, which will be six stories tall. Outpatient offices, a pharmacy and medical lab are just some of the services that will go into the building. The World-Herald mentions that a fitness center, coffee shop and food amenities could reside in the building for use by its employees.

The recently demolished office building in which the medical office will sit had been vacant since 2008.

"The buildings' useful lives were over," said Zach Wiegert, the developer and president of Tetrad Property Group. "(They were) just not functional buildings for today's market."

Weigert said an anticipated finish for the project will come in the spring of 2015. He expects building to create at least 250 jobs, including 150 for medical professionals, 50 administrative positions and 50 hourly employees.

The other project in Nebraska
The Lincoln Airport Authority in Lincoln, Neb., is moving forward with plans to develop the north side of its Air Park industrial park.

The authority has applied to have roughly 430 acres annexed by the city, which, by proposal, would be changed from agricultural- and public-use zoning to industrial.

According to the Lincoln Journal-Star, 350 of the 430 acres available for annex could be developed into new rail transportation.

The land was identified as a premier development area in 2010 due to the limited amount of large, rail-served industrial sites in the state.

Work is slated to start soon to prepare the site for development, according to the Lincoln-Star. Once developed, the area will be called the Nebraska Rail Center.

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