Lincoln Bold could end up a little less bold. Or maybe even bolder than planned.
A new feasibility study has resulted in at least four different contingency plans for the proposed 22-story, mixed-use building proposed for the northwest corner of Ninth and P streets.
Steve Glenn, a member of the development team, told Journal Star business writer Pat Sangimino last week that slight delays in cleanup from the site’s former business, Melichar 66 Sales and Service, are buying the team time to see what happens with interest rates and materials pricing. Cleanup required the removal of underground gasoline tanks and the replacement of soil on the site.
The original plan involved office space, luxury apartments and condos in a 254-foot building.
“That plan is still in place,” Glenn told the Journal Star. But, he said, “The environmental stuff, that little delay right now, is giving us some time to figure out where we go next.”
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Lincoln Bold hasn’t been without its detractors — people and businesses worried about too little parking, too many more residential opportunities and an appearance that’s too tall and modern to fit in the surrounding environment. The project also relies on $24.1 million in tax-increment financing, and TIF use always raises some eyebrows.
Lincoln Bold stands as an opportunity to keep the evolution of downtown moving, updating the face the city shows to much of the world, and taking a step to building the skyline of tomorrow.
For that reason, we hope Lincoln Bold stays on track. And we hope this moment to stop and catch our collective and commercial breaths offers a chance to resolve some of the criticisms that have surfaced.
“I’m not going to speculate on whether (change) means a shorter building, a fatter building or a taller building. ... But we are building contingencies,” Glenn said.
Contingencies — options — are good. The unfolding of changes in economic outlook and business climate could provide clarity that reduces the substantial investment in anything so (pardon the pun) bold. We hope, too, though, that the delays this represents don’t reduce the project’s momentum. The ability to sell renters, owners and businesses on the viability of the project is essential for success.
Let’s hope that as forces prompt the reevaluation of aspects of Lincoln Bold, that the outcome remains bold — and beneficial to the good of Lincoln.
