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$5 million townhome project proposed for 46th and California Streets

$5 million townhome project proposed for 46th and California Streets

Ten Square Townhomes TIF 14.jpg

This rendering submitted to the City Planning Department is for a proposed infill project called Ten Square Townhomes near 46th and California Streets.

A $5 million housing project called Ten Square Townhomes is in the pipeline, proposed to be built near 46th and California Streets.

Developer Dreamvesting Capital Group has assembled four lots, two occupied by single houses — that are under city-issued demolition orders — and two by duplexes that, according to city documents, also are in “poor” condition.

Replacing those properties would be a three-story structure containing 10 for-sale, market rate townhome residences. Eight are to have three bedrooms and about 3,000 square feet, and two will be slightly smaller two-bedroom units, according to city records.

The development group, managed by Jeri Schlick, seeks city approval of $835,000 in tax-increment financing for the infill project that, given city approval, would begin construction in September. Estimated completion is the end of 2021.

The developer says the project, a few miles from downtown and employers including the University of Nebraska Medical Center, would include public improvements and have a positive impact on the surrounding neighborhood.

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Correction: An earlier version of this story incorrectly referred to a four-story structure for the townhomes.

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Cindy covers housing, commercial real estate development and more for The World-Herald. Follow her on Twitter @cgonzalez_owh. Phone: 402-444-1224.

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