The Bellevue Planning Commission will hear a proposal Thursday to build a 200 to 250-unit multi-family housing project on land where city leaders had hoped a retail development would spring up.
Royce Cornhusker, LLC, is seeking an amendment to its originally submitted plan which envisioned building retail stores, restaurants and a hotel on 12 lots at the intersection of Fort Crook and Cornhusker roads.
Royce is also asking to increase by $518,705 the amount of the project cost that will be eligible for tax-increment financing benefits. The company is affiliated with Lockwood Development of Omaha, which bought the land from the City of Bellevue in 2013 for $2.6 million.
The site consists of 33 acres divided between an upper site along Cornhusker Road and a lower site along Fort Crook Road.
A memo to the Planning Commission from City Land Use Planner Tammi Palm states Royce still intends to use the upper portion for a commercial development, but that the company’s intention for the lower property now involves a residential development.
The memo also states that unanticipated site development difficulties involving debris buried by a previous owner have increased costs by $518,705, an amount the company wishes to add to its TIF benefits.
Royce Cornhusker, LLC, together with Lockwood Development, is a prominent developer of modern retail strip malls throughout the metropolitan area and hopes had been high it could build a similar development at one of Bellevue’s most prominent intersections.
But its application to the city reveals it has been approached by “a developer of multi-family housing projects on the Lower Site consisting of approximately 200 to 250 units in two or more phases.”
Royce states in its application the housing units will increase the overall value of the development from a previously estimated $26 million to $30 million, $5.3 million of which will be eligible for TIF financing.
The Planning Commission will meet at 7 p.m. at Bellevue City Hall.
To see the complete agenda for the meeting, go to to bellevue.net then click on the Planning tab under Departments.