OMAHA- A busload of budding developers snaked through some of the city's oldest neighborhoods this week, guided by an urban planner who pointed out to them abandoned lots freshly prepared for new housing thanks to a state "shovel-ready" grant. The tour came as part of Omaha's two-day Reignite 2 Unite symposium, organized by Omaha's Municipal Land Bank.

The event came on the heels of a separate unprecedented undertaking, when the City of Omaha sold 50 vacant lots it has been maintaining, some for as low as $1. However, developers, in turn, have a deadline to build on the sold land. Both Nebraska's economic development director, K.C. Belitz, and Omaha Mayor Jean Stothert spoke at the Reignite conference, sharing insight into what some have called a crisis-level shortage of workforce housing.

In Omaha alone, said Stothert, more than 55,000 households spend at least 30% of their income on housing, rendering them "cost-burdened." Stothert also highlighted Tuesday's approval of the sale of the 50 undeveloped lots, saying they offer a chance for 10 developer groups to build new single or multi-unit housing projects.

For the full article click HERE