With $110 million Lincoln skyscraper on hold, lot will be green space for now

LINCOLN, Neb. (KLKN) – The Lincoln Bold skyscraper has hit a roadblock, and construction has been placed on hold.

Without a date set to break ground, the developers plan to do something different with the space at Ninth and P streets for the time being.

The glass building will cost more than $110 million, with $24 million coming from the city.

Construction was set to start on the 22-story Lincoln Bold project last August.

“Unfortunately, we ran into headwinds of high interest rates,” developer Steve Glenn said. “They went up almost 4% during the design elements of it, so we thought it’s prudent to wait until the interest rates drop.”

But in the meantime, Glenn has another idea for what to do with the empty space.

He said Lincoln Bold will soon be adding sod to the dirt lot, along with picnic tables, to make a mini-park in the Haymarket.

Matt Taylor, the owner of nearby Tavern on the Square, said he’s glad to hear Lincoln Bold be making the land look nice.

“This is the entrance to the Haymarket,” Taylor said. “It needs to look pretty. And for a while, it’s been a mud pit with broken chairs and trash. I’m happy to see that something is being done with it.”

Lincoln Bold is waiting for the weather to warm up before it can lay down the sod.

“People will be able to do picnics there, perhaps take their pets there, and enjoy that green space,” Glenn said.

Once construction begins, the building will take between two and three years to complete.