The city of Lincoln will offer 4.5 acres next to the Antelope Valley Project and ask interested developers to submit ideas on what should be built on the parcel.
The land includes a former Williamson car dealership building at 2101 N St., owned by the Lower Platte South Natural Resources District and leased to the People's City Mission, which uses it as a distribution center.
The rest of the property is made up of nearby parcels owned by the city and Parks and Recreation Department south of the former car dealership building, said Dave Landis, director of the city's Urban Development Department and an NRD board member.
The city will issue an invitation for request for proposals in early April.
"We will ask the market: If this was on the table what would you do with it?" Landis said.
City officials do not have a preconceived idea of what they'd like to see built on the property, Landis said.
Interested developers will have until Oct. 1 to arrange financing and submit proposals, he said.
The parcel should be attractive to developers because it is near the University of Nebraska-Lincoln, Union Plaza and recreational trails in the Antelope Valley Project, as well as O Street and other major thoroughfares, Landis said.
Glenn Johnson, general manager of the Lincoln-based NRD, said the district acquired the former car dealership building as part of a large tract and used most of the land to build the flood-control portion of Antelope Valley.
The People's City Mission began leasing the building about four years ago and is now on a month-to-month lease.
"We don't have a long-term need for the property or have any long-term plans," Johnson said.
Initially, the district was reluctant to offer the building to developers because it was in the 100-year flood plain of Antelope Creek, Johnson said.
However, completion of the Antelope Valley Project has taken the building out of the flood plain and made it more attractive for development, he said.
Johnson said the district could sell it directly to the city or to a developer.
He said he has no idea what the building is worth, but the district paid about $3 million for it and adjacent property. He said the city is having it appraised.