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Old Posted Jul 2, 2018, 8:10 PM
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City says Block 54 is at a standstill

Quote:
LINCOLN, Neb. -- The City first announced plans for Block 54 in November 2016. It is an area set for two hotels and residential space near 9th and O Streets. Last November, Knickerbockers Bar & Grill was torn town to make room. Now, the multi-million dollar project may not even happen.

The City's Urban Development Department said at this point, construction isn't moving forward. The City of Lincoln said its price tag went up at least $10 million.

The City's Urban Development Department Director Dave Landis said, "The question is whether they can put the financing and the resources together to execute it."

The city council approved the project in April 2017.

Landis said the developers either needs to expand financing or downsize the project.
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