Mutual of Omaha’s new headquarters tower to cost $433M

OMAHA, Neb. (AP) — The new skyscraper Mutual of Omaha plans to build in downtown Omaha will cost roughly $433 million.
Documents filed with the city’s Planning Department revealed several new details about the project that was announced late last month.
The building that the company wants to complete by early 2026 will have about 800,000 square feet of office space, which would be smaller than Mutual’s current headquarters in midtown Omaha that has more than 1 million square feet. The plan also calls for 2,200 parking spaces to be included.
Mutual officials have said the building is still being designed, so some of these figures could change. It’s also not clear whether Mutual’s new headquarters will become the city’s tallest building and top the 45-story First National Bank of Omaha tower.
The company also plans to request up to $68.6 million in tax-increment financing to help pay for the project.
That financing plan allows the increased property taxes from the project to be used to pay for part of the cost over a period of 15 or 20 years.
The city Planning Board is expected to vote on the project Wednesday, but it will also need City Council approval.
