Development Part of Massive Downtown Expansion
It’s official…Lincoln will begin the process for construction of a new 16,000 seat arena in the West Haymarket near downtown and the University of Nebraska-Lincoln.
Lincoln voters approved the required financing to move forward on the $344 million project that will also include a new ice center and a $100 million hotel, office and condo development.
“Lincoln has truly made a statement with this vote…we are committed to being a world-class community,” said Wendy Birdsall, President of the Lincoln Chamber of Commerce and Partnership for Economic Development. “While other cities are making dramatic cuts and seeing major downsizings in private sector activity, Lincoln is seeing substantial growth in private sector projects and joint public/private partnerships to prepare for the new economy.
In fact, the arena is part of over $1 billion of new investment planned in the downtown area over the next 5-10 years including a new 250-acre research campus from the University of Nebraska, new corporate headquarter facilities for Assurity Life Insurance and Farmers Mutual, and a new LEED Neighborhood being developed by Neighborworks, Inc.
“We are excited where this will lead in the future,” Birdsall added. “The Chamber is committed to improving quality of life factors that keep our best and brightest in the community and creating an atmosphere for businesses to start, grow and succeed.”
As for May’s arena vote, nearly 60 percent of Lincoln voters approved the Lincoln Haymarket Arena project. The arena will open in 2013. Over the course of those three years, the arena will create nearly 8,000 jobs with 1,000 of those jobs being projected as permanent.
This proposal will promote stability and progression by expanding Lincoln’s entertainment capabilities and by enhancing the university’s athletic department with both of the men’s and women’s teams from UNL scheduled to play there.
Once the arena is built, Lincoln will bring in more concerts, events, and recruits for the Husker basketball teams. More importantly, all of these will be surrounded by continued growth in the downtown area; furthering Lincoln’s prosperity and growth.