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About The daily Nebraskan. ([Lincoln, Neb.) 1901-current | View Entire Issue (June 13, 1988)
Economic feasibility is main focus DOWNTOWN from Page 1 stores, such as the department store Miller and Paine already existent downtown, which will be imperative to attracting other retailers, she said. Harris and Stephen Bell, BCED’s vice president of development, are expected to travel to Little Rock, Ark., to talk with Dillard’s depart ment store’s representatives in an effort to attract it as an anchor, Hager said. Sallee said that because Dillard’s had committed to the project earlier and had expressed a “continuing interest” in Lincoln, he thinks the outlook for Dillard’s to open a Lin coln store looks promising. “BCE Development has an excel lent history in Midwest areas, and this should be impressive to Dillard’s,” he said. After the anchor stores are se cured, economic feasibility becomes the focus of the project, Hager said. “They will put all of the ideas on paper and test with numbers to sec if they work out economically,” she said. “After all, the developer and the city aren’t in it for their health. “They expect big revenues out of it.” Sallee said the decision of eco nomic feasibility lies in comparing the money available with the fees to be incurred. The main fees include purchasing the land, construction costs of building parking structures and other facilities,and infrastructure changes which may need to be made. If the project is economically sound, Hager said, financial docu mentation proving that BCED is ca pable of finishing its started project must be provided to the Housing and Urban Development Department by Sept. 30. If this documentation is not pro vided on time, the city will lose a $6.5 million HUD grant, Sallee said. He said he does not foresee this happen ing, though, because of good commu nication between the city and the developer and BCED’s financial status. When HUD accepts this financial proof, Hager said, the city must then declare eminent domain over the proposed area, which is comprised of a four-block section between O and Q streets and 11th and 13th streets. This area was chosen, Sallee said, because the city was concerned about its decreasing retail profits and be cause of its location. He said the loca tion is ideal because of its interstate access, proximity to the university and the existence of a major commer cial center. Acquisition of this land will in volve inspection and value appraisal, Hager said. She doesn’t foresee any major problems in establishing emi nent domain. Hager said the companies cur rently located within the redevelop ment boundaries will then be given “a reasonable amount of time to move, which can be anywhere from six to eight months.” After these companies relocate, the developer will then buy the prop erty from the city and begin construc tion, she said. The construction period is ex pected to last 18 months, resulting in a downtown center consisting of stores, restaurants and cafes, offices, parking facilities and perhaps a hotel. Officials estimate the project will be completed by April 1991. Businesses already established downtown should experience a run over from the new center’s business, Sallee said. “With something like this, adja cent areas tend to blossom and ex pand,” he said. UNL students will benefit from project, official says By Ueanne Nelson Staff Reporter BCE Development’s proposals for the redevelopment of downtown Lin coln will please University of Ne braska-Lincoln students, said Bar bara Hager, executive director of the Downtown Lincoln Association. Hager said redevelopment under BCED, the developer chosen by Mayor Bill Harris to replace Taub man Co. Inc., will offer students many additional shopping and nightlife options. Stores which arc typically at tracted to BCED’s projects include Paul Harris, Pendleton, Pappagallo, Pasta and The Limited. Students will be attracted to these stores, Hager said. “If Taubman had been in charge, they would have built stores that only upper-crust students could afford,” she said. “BCED unders’ands stu dents’ situations, and would have moderately-priced stores also.” Hager said Taubman tested Lincoln’s wealth as a city by its per capita income and decided it was a rich city. This would have been the basis for the expensive stores, she said, where students would not shop. Redevelopment would also create more places for students and others to eat after performances at the Lied Center for Performing Arts, Hager said. If BCED includes Selection Re search Inc.’s proposed office tower across the street from the Lied Center at 12th and Q streets, eating establish ments in that area would increase, giving students many after-show choices of eateries, Hager said. “All around, it would be great for students,” she said. SMITH CORONA WORD PROCESSING SYSTEM XD6600 PWP SYSTEM 14 The Smith Corona PWP System 14 and the XD6600 typewriter combine as a complete word processor. They perform every function you need for writing, editing and printing. • 12" monitor has 80 characters x 24 line display. •Built-in menu guides you every step of the way. •(>4000character working memory (32 pages of test) •Unlimited storage via microdisk 1(>3,000 characters each. 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