Mayor Leirion Gaylor Baird and city officials announced today that EADO, LLC of Lincoln has been selected as the developer for the city’s South Haymarket Redevelopment site. The site, located at the southwest corner of Seventh and N streets, will become South Haymarket Park. EADO, a partnership between Speedway Properties and Nelnet, Inc, are proposing a mixed-use, five-story building with a total proposed investment of about $47.5 million.
“This project serves as another example of how public-private partnerships are a winning formula for growing Lincoln’s economy and our high quality of life,” said Mayor Leirion Gaylor Baird. “The redevelopment of this site increases office and commercial space, adds affordable and market-rate housing, and furthers our vision to create a signature urban park.”
Additionally, the 161,200 square-foot building would include affordable and market-rate apartments. The proposal includes an option to increase the amount of housing in the building if a major office tenant is not secured.
Urban Development Director Dan Marvin pointed to EADO, LLC’s successful record of redeveloping other sites in the Haymarket area, including mixed-use residential buildings such as Canopy Row and Canopy Park. The project meets many of the goals of the South Haymarket Neighborhood Plan by adding affordable housing and expandable office space in a location that helps support the future park, Marvin added.
