A mixed-use development opening this summer will expand on-campus parking and off-campus living options to UNL students.
Built through a public-private partnership between UNL and the Omaha-based America First Real Estate Group, the 10-story 50/50 building at 18th and R streets features a 475-bed apartment complex above a parking structure that holds 1,605 vehicles. The $50 million project opens for use in August.
UNL will manage the parking structure, offering 1,270 spaces to students living in nearby residence halls, including Knoll Residential Center, University Suites and the new Eastside Suites. The remaining spaces are reserved for apartment tenants and Lincoln Fire and Rescue.
America First Real Estate Group will manage the residential portion of the structure.
Dan Carpenter, director of Parking and Transit Services, said the addition of the 18th and R streets garage will alleviate parking pressures on the east side of UNL’s City Campus.
“The 18th and R streets garage parking capacity was designed to replace displaced parking from construction, accommodate the planned resident student parking demand and to accommodate some parking demand for future enrollment growth,” Carpenter said. “In the interim we are able to restructure the parking allocation to organize residents to the new 50/50 garage; commuters, faculty and staff in the 17th and R streets garage; and allow future hourly and visitor parking at the 17th and R garage.”
In the future, campus parking in the area can flex to meet demand, Carpenter said.
The 18th and R streets garage is also one of four UNL parking structures that will be gated, allowing access by a specialized radio-frequency identification chip within a parking permit. Other garages that will utilize gates include 14th and Avery, 17th and R and 19th and Vine.
“By controlling access, we’ll be able to get accurate counts on usage,” Carpenter said. “It will give us a better idea of how we are managing the space and how we can improve upon it going forward.”
UNL paid $16.7 million toward the project, with America First paying all other construction costs. Through the partnership, America First will also pay $120,000 a year to UNL plus 80 percent of annual gross revenue more than $3.7 million.
The agreement, approved by the University of Nebraska Board of Regents, includes a stipulation that should the developer fail to properly maintain the property, UNL can take ownership of the structure.
Carpenter said America First has been a good partner on the project, building the garage to UNL’s long-life standards and incorporating energy-efficient lighting.
“This project has been a unique and positive experience,” Carpenter said. “I wouldn’t say this is our new model for building parking garages, but I think we would be open to doing it this way again in the future.”
The apartment side of the 50/50 offers a mix of 124 units with secured access and amenities including a fitness center, community lounges, group study rooms, rooftop courtyards, tanning and community-wide Wi-Fi.
The living units range from two to four bedrooms and are full furnished.
UNL and America First will hold a ceremony celebrating the 50/50 project at 10 a.m. July 29 in the new structure.
