Omaha, Neb. — Jasper Stone Partners has received preliminary governmental approval for Avenue One, a $1.2 billion mixed-use development in west Omaha.
The Omaha Planning Board unanimously approved the nearly 200-acre project last week, according to the Omaha World-Herald, the local daily newspaper. Avenue One will be located south of 192nd and Dodge streets. The development will feature office, retail, residential, hotel and civic spaces, as well as public green spaces and walking trails.
Jasper Stone plans to break ground later this year on the project, which will consist of 1.3 million square feet of office and retail space, and more than 2,000 residential units. Phase I of construction is slated for completion in late 2018.
Avenue One will be one of the largest projects of its kind in Omaha and is expected to have an annual economic impact of more than $1 billion, according to a news release from the developers. Jasper Stone is working with Block Real Estate Services LLC during the master planning phase.
Other participants in the project include HOK for architecture and land planning, Omaha-based Olsson and Associates for engineering and design, Pansing Hogan Ernst & Bachman and Husch Blackwell for legal services and Pinnacle Bank as financing partner.