The Omaha City Council has approved a study that could help lay the groundwork for a major redevelopment of Crossroads Mall.
The study will include market feasibility research; an analysis of how the project might improve public facilities; and strategies for financing the overhaul of the area near 72nd and Dodge Streets.
The $49,960 cost will be paid by the city but later reimbursed by the developer, Crossroads Village LLC.
Developers said in January that they envisioned turning the nearly empty mall into an open-air shopping complex that could have up to 80 stores, 200,000 square feet of office space, a park and a 135-room hotel. That project was estimated to cost about $350 million.
City officials said the study will provide important background information if developers plan to work with the city on funding, including through tax-increment financing.
Councilman Chris Jerram said residents of several neighborhoods around the development site have been keeping close watch on the plans for Crossroads.
“It's an immensely important retail corridor for the city,” he said. “I hope part of this economic study can be the inclusion of neighborhoods.”