Omaha Civic Auditorium Project Gains Financing
The city withdrew its motion of default as the developer secured tax increment financing for the $323 million redevelopment.
Updated on Nov. 10, 2026 in Remote Work
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The City of Omaha withdrew its motion of default on the old Civic Auditorium site developer after months of a court battle. The Planning Board voted 6-0 to approve more than $34 million in tax increment financing to help pay for the $323 million project.
Why it matters
The approval clears a major obstacle for a long-stalled redevelopment in Omaha's urban core that includes housing, a hotel, and retail and office space. Funds for the project are now secured, allowing the developer to move forward.
The $34 million in tax increment financing covers roughly 10.5% of the $323 million total cost of the six-phase project. Whether the developer will meet its target of resuming work in the second or third quarter of next year remains unconfirmed.
The players
White Lotus
White Lotus is the developer behind the redevelopment of the former Civic Auditorium site in Omaha.
Arun Agarwal
Arun Agarwal is the chief executive officer of White Lotus, the developer leading the Civic Auditorium project.
City of Omaha
The City of Omaha is the municipal government that withdrew its motion of default and oversees the tax increment financing for the project.
Omaha Planning Board
The Omaha Planning Board is the city body that voted 6-0 to approve the tax increment financing for the redevelopment.
The details
Developer White Lotus, led by CEO Arun Agarwal, acquired the tax increment financing after the city withdrew its motion of default. Some infrastructure work has already been completed at the site near 19th and Chicago streets, and the six-phase plan calls for 410 housing units, both affordable and market rate, along with a hotel, retail and office space.
Timeline
The city withdrew its motion of default after months of a court battle.
The Planning Board approved the tax increment financing by a 6-0 vote.
The developer hopes to resume construction in the second or third quarter of next year.
Market Landscape
Tax increment financing has become a common tool in Nebraska for closing funding gaps on large mixed-use redevelopments in urban cores. The Civic Auditorium project follows that pattern, using public financing to move a long-stalled site forward after a developer default dispute.
Omaha residents can expect new affordable and market-rate housing, a hotel, and retail and office space once construction resumes. The project's timeline depends on the developer returning to work in the second or third quarter of next year.
The takeaway
Public financing can unlock stalled urban redevelopment, but the timeline still depends on the developer resuming construction. Residents should watch for confirmed restart dates as the six-phase plan moves forward.
What happens next
The developer hopes to resume construction work in the second or third quarter of next year.
Further reading
Explore more Remote Work coverage to see how development and employment trends shape the Omaha economy.
Source note: This article includes information reported by Wowt.
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