The long-empty lot in northeast Lincoln’s University Place, where Green's Furnace & Plumbing Co. operated for decades until it was destroyed by fire in 2003, took another step Monday toward a new beginning.
The City Council on Monday found that plans by Speedway Properties to develop a three-story building with apartments and ground-floor commercial space conform with the city-county Comprehensive Plan.
The council also heard a request to amend the planned unit development in the area to allow for the sale of alcohol on the site.
“It will be nice to see the redevelopment of the former Green’s site in this area of town transition into a new, catalyst project for the area,” said Council Chairman Tom Beckius.
The fire caused $1.1 million in damage and gutted the building, which had been there since 1906.
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The city bought the now-empty lot — on the southwest corner at 48th Street and Madison Avenue — in 2003 and since then there’s been very little activity, save a few events and Fourth of July fireworks stands, said Dan Marvin, the city’s urban development director.
The goal of a 1998 redevelopment plan for the area was to enliven the 48th Street corridor, and the vacant lot has been an impediment to that, he said.
The lot was on the city’s website as surplus property for many years, but few people brought ideas to the city, he said, until Speedway Properties brought forward its plan.
Those plans include 54 apartments, 20% of which would be designated as affordable housing for people making 60% of the area median income.
Amenities would include a community gathering space with a kitchen, a fitness center and a game room, and 64-68 parking stalls.
The 5,000 square feet of commercial space will likely include a restaurant and other mixed uses, Marvin said.
“The vision is to create an active 48th Street,” he said. “We want an inviting pedestrian experience, but we’ll have cars going through it (along 48th Street) as well.”
A bus stop in the area will likely have to be moved. There will be alley access to the property, and developers hope to have outdoor dining on the south end of the lot, he said.
DaNay Kalkowski, the attorney representing the developer, said they’ve held meetings with neighboring property owners — including officials from Nebraska Wesleyan University — and they have all been supportive of the project.
The Urban Design Committee unanimously recommended approval of the project, as did the Lincoln-Lancaster County Planning Commission.
After the fire, Green’s relocated to a site about a mile north and sold the vacant lot to the city for $387,500.
Developers hope to make use of about $1.9 million in tax-increment financing, which allows developers to use future property taxes the redevelopment generates to pay for certain upfront costs.
To use TIF, Speedway Properties, which plans to invest about $8.5 million in the project, will have to negotiate a redevelopment agreement with the city.