The Omaha Planning Board approved a developer’s Tax Increment Financing application to develop a surface parking lot east of 40th & Pacific Street, a narrow strip abutting the Field Club Trail. The developer has a 50-year ground lease with the University of Nebraska, which owns the property. The $11.1 million project consists of 31 townhome apartment units, ranging from one-to-three bedrooms with attached garages. Unit rents would range from $2,150 to $3,125 per month. Construction is set to begin this fall with a completion date of February 2027. – Isaiah Ang
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