In a rare development opportunity for Omaha, Ironwood Country Club is set to transform into a $200 million mix of high-end offices, upscale housing, small shops, local restaurants and a hotel.
While the scope and central location of the project set it apart, a five-building religious component — including a new Temple Israel and a three-faith religious center — would make the development even more unique.
The new owners of the golf course property at 12605 Pacific St. gave The World-Herald a look Wednesday at plans that have potential to rank with Omaha’s most impressive office, shopping and residential developments, including Regency and the new Aksarben Village.
Given the metro area’s growth, other large-scale developments have trekked farther to the suburban fringe to find open land for their plans. With Ironwood’s demise, the planned Sterling Ridge development represents a chance to build fresh on a 153-acre plot that is closer to the middle of the city.
“This is a once in a lifetime opportunity to get a piece of ground that is in the suburbs and mature from a landscaping perspective and has great access,” said Barry Zoob, vice president of Omaha’s Grubb & Ellis Pacific Realty firm.
Before moving forward, the project must gain the City of Omaha’s approval. Because developers are planning such an extensive development amid several established neighborhoods, they also will have to respond to area homeowners’ concerns about the impact.
But if the City Council approves, the development is poised to proceed next year. Despite the current troubles in the economy and real estate, financing has been lined up, office tenants are starting to commit and developers are vying for a chance to take on a piece of the development.
“We think it’s an exciting project, and we want it to be first class,” said Lance Larsen, a partner on the project and president of Millard Refrigerated Services, which will relocate its offices to Sterling Ridge.
Larsen is partnering with Chip James of Lockwood Development. After First National Bank of Omaha foreclosed on Ironwood, the developers bought the property, which also includes a clubhouse, at auction in January for $9.98 million.
The once-private course, formerly Highland Country Club, and clubhouse remain open for public use through 2010.
The developers say they went into the sale with a concept for developing the property. It wasn’t long before the budding Tri-Faith Initiative and its partners contacted the developers about joining the project.
The Sterling Ridge development is estimated to cost between $200 million and $250 million to build. Among the plans:
— More than 500,000 square feet of office space spread across multiple, two- to five-story buildings. Along with Millard Refrigerated Services, a second, unnamed office user has committed to the development.
— A series of small shops and restaurant sites, including plans for a bank, coffee shop and local eateries.
— A 100-unit assisted-living community developed in partnership with Heritage Management Services, which is involved in similar projects at 168th and Blondo Streets and in Bellevue.
— Residences, including 240 apartments, 28 single-family homes, perhaps in a gated community, and a five-story, 70-unit condo tower.
— A 200-room, full-service hotel.
The religious campus would encompass one-fourth of the development. It would include: a new Temple Israel, which would mean the synagogue would relocate from its 70th and Cass Streets location; a mosque at the Institute of Islamic Studies; a new Episcopal church; and a joint Tri-Faith Initiative center.
The plans also mark a spot for a new Greek Orthodox church, and developers have been in discussions with the Greek Orthodox Christian Church of Greater Omaha, which leases its current home at 90th and Q Streets.
None of those five parties has fully committed to the project yet, although Temple Israel has an option to purchase 14 acres.
The Tri-Faith Initiative has struggled to find a home since announcing its plans in 2006. Two sites in the Elkhorn area fell through.
Several representatives involved in the religious components said it was premature to discuss their plans.
Calling this “an exciting and important time,” Temple Israel President John Lehr wrote in a letter to congregants that Temple Israel will be fully assessing the site and determining its financial capacity to take on the project.
“That certainly appears to be a very promising place,” said Syed Mohiuddin of the American Institute of Islamic Studies and Culture.
Sterling Ridge’s developers have been in talks with city planners about the project, which needs zoning approval. No hearings have yet been scheduled.
Wednesday, the developers introduced their plans to about 120 neighbors from the subdivisions surrounding the current golf course. Homeowners asked a series of questions about traffic, street connections, the size and configuration of the buildings, landscaping and drainage.
Jim Hopkins, who lives immediately south of the project, said it’s unfortunate that the land has to be developed.
“This is beautiful. It’s great,” he said of the plans. “It’s just a shame you have to take an already beautiful place in Omaha and remove it.”
Site work could begin next year, and the first offices could open in 2012. The clubhouse would be demolished.
James, president of Lockwood Development, said he believes that the new development, with its civic uses and green space, will fit in well with the existing neighborhoods. James said he made a point of not including large-scale retailers, which wouldn’t fit with the area.
“We’re creating a neighborhood.”
Contact the writer:
444-1128, jeff.robb@owh.com
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