Several development projects moved forward at this week’s Council Bluffs City Council meeting.
River’s Edge
The Council Bluffs City Council this week accepted a proposal from Broadmoor Development for River’s Edge, Block 1. The 1.72-acre parcel is located east of the Pavilion and has remained vacant while surrounding lots have been developed. The city has been trying, unsuccessfully, to land a project that would have an assessment of at least $32 million. This most recent Request for Proposal was the third. Broadmoor’s $24.5 million project was the only proposal.
Broadmoor plans to build a 91-unit, 5-story apartment building. The building will have two levels of indoor parking – one underground. Broadmoor has already completed 229 apartment units at River’s Edge, with an additional 48 under construction. Completion is planned for spring 2028.
3000 2nd Avenue
Lockwood Development of Omaha is slated to transform a 6.45-acre site on the northeast corner of 30th Street and 2nd Avenue. The city council accepted Lockwood’s $58 million proposal, which was one of two submitted in response to a Request for Proposal for this property.
Lockwood plans to build a 264-unit apartment complex that will be built in three phases. Based on the proposal, the unit mix is fairly flexible as the developer considers market changes over the course of construction, but the plans show 46 studios, 74 one-bedroom, 86 two-bedroom and 19 three-bedroom apartments. The three-bedroom units and 12 two-bedroom units will be located in townhome style apartment buildings on the south side of the property. Lockwood currently plans for the townhome units to be for-lease, however, they may end up being for-sale if further market analysis indicates a better market response.
Four traditional 4-story apartment buildings will be built on the north and south sides of First Avenue Trail. The two apartment buildings on the north side of the trail will have access to a ground level shared parking garage, while the two building on the south side will have some private parking garages.
The first phase of the project will be on the southeast corner. The final phase will be construction of the apartment buildings north of the trail with an estimated completion date for the whole project of December 2027.
2800 2nd Avenue
Hoppe Development of Lincoln is the developer chosen by Council Bluffs to develop land northwest of 2nd Avenue and South 28th Street along the First Avenue Trail. This property was previously the site of an agribusiness facility and was purchased by the city to redevelop. The city had previously circulated three other Requests for Proposals, with White Lotus Group being the previous developer tied to the site.
The $17 million Hoppe proposal aims to build 89 apartment units, ranging from studios to two-bedroom units and live/work arrangements. The three live/work units will be oriented toward the trail and a new plaza on the north side of the site to help activate the new trail system. Apartment units will be spread among several buildings – primarily low-rise buildings with four-to-12 units each, although over half will be housed in a 47-unit building. At least half of the units will be for low income residents, but the project is a mixed-income neighborhood.
Previous developers adamantly pursued low income housing tax credits to finance their plans. However, the land is not located in a qualified census tract, and the failure to receive the tax credits killed prior efforts to develop the site. Hoppe is not applying for low income housing tax credits. The city is confident this will allow the plan to move forward as proposed.
Most of the development is located south of the First Avenue Trail, but a small portion north of the trail will be developed into a bike pump track. The amenity is temporary and will be removed and replace with transit infrastructure when the city finalizes plans for transit on First Avenue.
Hoppe plans to complete the project by April 2027.
