The Pershing Center Block will be revived after sitting lifeless for eight years with an announcement Tuesday morning it will become a 100-unit affordable housing complex.
“Although a great deal of work remains to be done, this exciting news for our community takes us one step closer to this historic block,” Mayor Leirion Gaylor Baird said.
Omaha-based White Lotus Development’s proposal also includes a wellness center, child care facilities, a coffee shop and underground parking.
“A vision of really trying to create activity over on a really iconic street at Centennial Mall,” Dan Marvin, Economic Development Director said. “We’re expecting this to be a fantastic development.”
City officials expect a total investment of $54 million from tax increment financing and other financing mechanisms.
The proposal also includes a public library at Centennial Mall and M streets if supported by the community, according to Baird.
“We’re expecting this to be a fantastic development,” Marvin said.