Enthusiasm

Developers still enthusiastic about Theater District project | News

While the start of construction of the Theater District has taken longer than originally anticipated, enthusiasm for the project has not waned.

“The development process requires patience because it takes a long time,” said Tom Huston, attorney for Perry Reid Properties of Lincoln and its subsidiary Theater District LLC. “Working with the City of Hastings is great. They’ve been wonderful to work with. The City of Hastings has a fairly progressive development code. There’s just a lot of details that we need to iron out. The design process took a long time.

The project is currently undergoing permitting processes as the theater district is across 12th Street from Hastings Municipal Airport.

“Any time we want to go ahead with a building, we have to get FAA approval,” Huston said. “It looks worse than it really is because we’ve worked on it a few times and it doesn’t take that long.”

The immediate focus is the 78-unit multi-family building on Lot 3, the 9,000 square foot retail and office building on Lot 8, and the theater building on Lot 5.

The entire theater district is within the airport approach area in accordance with airport zoning regulations.

Perry Reid Properties and Theater District LLC recently announced a partnership with Golden Ticket Cinemas Inc. to renovate and rehabilitate the former Imperial Theater’s three cinema screens into what the developers have announced will be a premier luxury movie theater .

Large equipment will work on the exterior works of the theater building.

Huston is preparing a redevelopment agreement for the theater building which must be approved by the Community Redevelopment Authority. He hopes it will be on the CRA’s February agenda.

FAA and city clearance would allow construction to begin in March.

The start of construction in March would maintain the pace of renovation of the theater for completion towards the end of September.

Huston is experienced in working with local regulatory agencies.

“I’ve always found it best to be proactive in working with the city on all rules and requirements,” he said. “We want to respect them because we want the path of least resistance.”

Work on Theater Drive, which will run diagonally through the theater district from northwest to southeast, as well as the pouring of the multi-family building slab, have been at the mercy of weather conditions.

Huston said the outside temperature needs to stay above 40 degrees for an extended period to allow concrete work to take place.

“It really narrows your window for the time they can pour and there’s not much you can do,” he said. “We’re going to have to let the weather improve a bit for us, so we have longer periods during the day that are 40 degrees or higher.”

The 78-unit apartment structure is designed for individuals or families aged 55 and over.

First floor amenities include an elevator, fitness and exercise room, lounge with cozy kitchen, entertaining and gathering areas.

Additionally, the project will provide a fenced outdoor pet park for residents with pets.

The multi-family residential construction zone will contain 117 parking spaces, in accordance with the requirements of the planned development permit and the city code. Of the parking spaces, 16 will be available in closed and secure garages for residents wishing to rent garages.

The mix of units for the project is expected to include 16 studios, 46 one-bedroom apartments and 16 two-bedroom apartments.

Perry Reid recently completed a similar building in Sioux City, Iowa.

“We think it’s a good design and makes efficient use of space,” Huston said.

He described it as housing for the workforce.

“It’s not premium rent, it’s mid-income rent,” he said. “We think it fits the market well.”

A second identical multi-family building next to the first is planned for phase 2 of the theater district. A courtyard will separate the two buildings.

There has been interest in the multi-family residential building, as well as the 9,000-square-foot retail and office building that will feature six 1,500-square-foot bays, but Huston said residents’ commitment to commercial, as well as residential, buildings will not take off until construction begins.

“In our experience, you won’t get much traction on renting space until you start construction,” he said. “Once construction has started and there’s vertical construction coming out of the ground, people start sharing your vision and sharing what it’s going to look like and seeing it as transferred from a plan of two-dimensional website.”

The multi-family building appears to be completed in the spring of 2023.

Developers will estimate how long it will take to rent as well as a waiting list.

Pioneer Trail Lofts at North Park Commons, another Perry Reid property in Hastings, had an expected lease period of eight to 12 months. Huston said Pioneer Trail Lofts was fully leased in five or six months.

“It tells us that there is still a lot of demand for housing,” he said.

For more information on rentals or sales, contact Craig Reid at [email protected] or 402-416-5590.

Project officials will be working on assembling the list of interests months before construction is complete.

“We don’t usually do much before we start construction, but we’ve had contact with people and we’re certainly writing down their names and contact details to keep them informed of the construction process and as we near completion. construction,” said Huston.