Created: Thu, 10 Jul 2014 10:49:00 CST
Updated: Fri, 11 Jul 2014 08:55:40 CST
It's being tabbed as the catalyst for economic development in Hastings.
Major redevelopment for the property adjacent to the city auditorium.
On Thursday night, the project took another step forward.
Hastings City Council and Mayor Powers accepted the recommendation to select Chief Industries and WRK as developers for the project.
Plans that have been discussed inlcude adding retail shops.
And, a high end hotel to the property.
Chief and WRK recently completed the Rail Yard, Canopy Lofts and the Hyatt hotel near the Pinnacle Bank arena in Lincoln.
Hastings city officials say this project is a once in a lifetime opportunity.
Hastings Economic Development Director Dave Rippe said:
"I think that any time you look at an investment and economic development in any community, let alone in rural Nebraska, its incurably imported we have a defined need in our community that we look at through mutable studies, through down town redevelopment studies, through convention studies."
The City will now spend the next few months working with the developer to negotiate the redevelopment agreement and finalize tenants.
Design plans and tenants will be finalized and made public.