Just two months after La Vista voters got behind a tax incentive to boost tourism projects, a national developer with exclusive credentials announced plans for a $114 million entertainment district and retail outlet center at the city's Southport West area.
If the plans live up to the developer's reputation, the project holds potential to turn Southport West into a signature development for the Omaha metro area and the region.
Baltimore-based developer the Cordish Cos. brings experience building downtown Kansas City's Power & Light District, revitalizing parts of Baltimore's Inner Harbor and operating an outlet center in Atlantic City, N.J.
Cordish now is promising national restaurants and entertainment venues at Live! at Southport West and leading brand-name retailers at the Outlets at Southport West.
The announcement appears to set up a competition for outlet mall supremacy in the Omaha area. Just last month, a separate team of developers proposed to rebrand and revitalize Gretna's Nebraska Crossing
Factory Stores with leading brand-name retailers, and Gretna voters will decide next month whether to authorize a sales-tax incentive key to the project's financing.
But Dennis Hoth, a local developer behind the Southport project, said Monday that only one outlet project will happen and it quickly will become evident which development emerges.
“There will not be two outlet projects in Omaha,” he said. “There will be only one in the metro area. Frankly, I'd kind of leave it to the consumer.”
The Gretna developers, however, stood behind their plans — and a location they touted as superior.
“Given all the due diligence I've done in the market, Gretna is the best,” said Rod Yates of OTB Destination, a partner on the Gretna project.
So far, neither project has announced any committed stores.
Cordish Vice President Blake Cordish said the company is committed to delivering and operating a “dynamic regional tourism destination” and a “development of the highest quality.”
The company is proposing a development spanning 435,000 square feet in a first phase, plus an additional 100,000.
It would join Cabela's, Embassy Suites, Courtyard by Marriott and the La Vista Conference Center at the development off Interstate 80 near 126th Street and Giles Road.
The outlet center would sit west of Cabela's. The entertainment district would be nearer to the hotels and Cabela's front and feature an events plaza for live performances and festivals.
Cordish said the outlet center will be similar to its Atlantic City outlet project called the Walk, which features outlets for Adidas, Aldo Shoes, Banana Republic, Brooks Brothers, Coach, Converse, Corningware, Easy Spirit, Eddie Bauer, Guess, J. Crew, Kenneth Cole, Lane Bryant, Liz Claiborne, Maidenform, Nike, Polo Ralph Lauren, Reebok, Rockport, Timberland and Wilsons Leather.
Its projects have won seven awards for excellence from the Urban Land Institute, an organization that promotes good land use.
La Vista officials acknowledged the project is not definite at this point. The La Vista City Council is due to vote next Tuesday on a nonbinding “terms sheet,” so Mayor Doug Kindig said it was important to put the project before the public.
Officials said they are confident in Cordish's commitment. And they said the project is a perfect example of the potential from November's economic development vote.
“I think it's really going to bring a lot of energy to La Vista and the Omaha metro area,” said Kindig, who noted that city offiicals have been in discussions with Cornish for more than two years since making contact during a trip to the International Council of Shopping Centers Convention in Las Vegas.
The City of La Vista is proposing to spend some $45 million on parking, streets and other public improvements. The city is considering financing that through bonds authorized by another state economic development incentive, which would be paid off by an occupation tax levied on the development, City Administrator Brenda Gunn said.
Last November, 77 percent of La Vista voters authorized the city to direct future sales-tax revenue to projects under the “Nebraska Advantage Transformational Tourism and Redevelopment Act,” approved by the Legislature in 2010. The law allows the city to turn back local sales-tax revenue generated at a development to offset startup costs.
The same incentive will go before Gretna voters in a February mail election. In December, the Gretna developers said they had 20 percent of their outlet space committed.
Kindig said he wishes Gretna the best.
Gretna Mayor Sally McGuire said, “Whichever one gets built, it will be a true asset to the whole region. To have an outlet mall with quality stores is something that's needed. We'd sure like to have it in Gretna."
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