Children's Museum Plans Move to Riverfront with Partner ...

(October 24, 2024)

A partnership between the City of Omaha, NuStyle Development and Omaha Children's Museum will bring new residents, learning, and leisure to the Omaha riverfront.

NuStyle Development will build The Beam, a 16-story building at 8^th and Douglas, next to the new home of the Omaha Children's Museum. A 12-story wood timber apartment building will be built on top of a four-story public parking garage. The combined museum/apartment development will be built on city property located on the north side of Douglas Street and borders Heartland of America Park.

"This development creates even more growth and momentum in Omaha and is part of our vision for downtown Omaha as a destination," said Mayor Jean Stothert. "This partnership with philanthropy, non-profit, private development and the City of Omaha has great public benefit."

The City of Omaha will build and operate two parking garages and a surface lot with approximately 600 stalls available for public use, museum patrons, and tenants.

The estimated site development and parking cost is approximately $36 million, the City will pay $26 million of those costs, using lease purchase bonds.

NuStyle estimates its investment at $87 million. The Beam will offer 261 one and two-bedroom apartments. The developer has applied for $13 million in Tax Increment Financing.

"This is a perfect example of a property that would never have been developed if not for the streetcar and TIF," said NuStyle Development President Todd Heistand.

Omaha Children's Museum has a nearly 50-year legacy of nurturing growth and development in children across the Omaha community, much of it from a building that was originally a car dealership.

Omaha Children's Museum CEO Fawn Taylor said this is an opportunity to build a museum with inclusive exhibits and programming that spark joy, curiosity, and connection. "Nebraska is home to some of the nation's leading experts on early childhood development who are working with us to plan for the new museum - from the building to the exhibits to the programming," said Taylor. "Their guidance will combine with input from national peer museums, decades of experience from our staff, and feedback from the Omaha community to create a dynamic new Omaha Children's Museum."

Longtime Omaha Children's Museum supporters and volunteers Susan and Mike Lebens, in partnership with Heritage Omaha are excited to have a role in leading this project.

"We spent the past year traveling the United States to visit other great children's museums and are confident that we can create something incredibly fun and full of learning opportunities that is unlike anything else in the country right now," said Susan Lebens.

Heistand's NuStyle Development is currently redeveloping the former Central Park Plaza into The Duo, 700 one, two, and three bedroom apartments. Both The Duo and The Beam are on the streetcar route.

Since the streetcar announcement in 2022, numerous urban core developments have been announced or construction has started. The City has projected approximately $1.2 billion in new development will be underway along the streetcar corridor by the end of 2024.

The Beam will bring the current investment estimate to more than $1.5 billion, pending city approvals of The Beam, and six additional projects in various stages of planning. This rate of investment exceeds the projections identified by Municap, the independent review of the streetcar financing plan.

The redevelopment agreements with NuStyle and Omaha Children's Museum is expected to go to the Planning Board in November and the City Council in December.

Omaha Children's Museum will continue to operate at its current location at 20th and Howard streets during the fundraising for and construction of the new space, with the goal of transitioning to its new home in late 2027.

"The museum's move to the riverfront furthers Omaha's reputation as a destination for families and it definitely adds to our great momentum," said Mayor Stothert.

The Beam is expected to be completed in Spring 2028.

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