Mutual of Omaha breaks ground on new 44-story headquarters in downtown Omaha
OMAHA -- Shovels in hand and blue hard hats on heads, Omaha city officials and Mutual of Omaha leaders gathered this week to celebrate the groundbreaking of a skyline-altering project.
Mutual’s new headquarters in the heart of downtown will become the city’s tallest building when it opens in 2026.
The new Mutual of Omaha headquarters (left) will be Omaha's tallest building when it opens in 2026. Construction plans for the $600 million skyscraper call for it to rise 677 feet, 43 feet taller than First National Bank Tower.
Construction plans for the $600 million skyscraper call for it to rise 677 feet. That’s 43 feet taller than First National Bank Tower, which has been the city’s tallest structure for the past two decades.
“This is very important for the future of this city, and we’re proud to be a part of that,” said Mutual CEO James Blackledge.
Omaha Mayor Jean Stothert also spoke ahead of the groundbreaking, which took place in a heated tent on a site just to the south of where the tower will be built. “Today, we celebrate an investment that will create development, that will grow our economy and that will draw innovating talent to our urban core,” Stothert said.
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Photos displayed at the ceremony depict a glowing tower of glass that will overlook a downtown core the city hopes will soon see expansive revitalization.
The skyscraper’s top floor will offer views in all directions from a two-story atrium and hold large conference rooms and other meeting spaces.
The public street-level lobby will feature displays paying homage to the company’s history, the services it offers and impact.
A parking garage extending up through the 15th floor can hold 2,200 vehicles. The city has agreed to pay nearly $100 million for the garage, recouping the expense by leasing the spaces to Mutual employees during the day and to downtown visitors during off-hours.
At 800,000 square feet, the building is intended for a flexible in-person or remote work styles. Mutual’s current Midtown campus is about 1.7 million square feet.
Blackledge and Stothert were joined in breaking ground on the project by Mutual Board of Directors member Rodrigo Lopez, developer Jason Lanoha, lead architect Jon Pickard and Greater Omaha Chamber of Commerce President and CEO Veta Jeffery.
Mutual of Omaha CEO James Blackledge said the company’s new tower “is very important for the future of this city.”
The new headquarters has been named Project Beacon, Blackledge said.
“It will be a beacon for inviting our employees to a new, modern workplace,” Blackledge said. “It also will be a beacon for vitality, development and investment in our downtown.”
The city of Omaha moved much more than dirt to break ground on the 44-story tower. It took the demolition of the city’s main library, the assurances of a modern streetcar system and a land swap to bring the Fortune 500 insurer’s headquarters downtown.
A year ago, Stothert joined Blackledge in announcing the project, and pledged her support for a $306 million, 3-mile streetcar line. The two projects are contractually linked by a development agreement signed by the city and Mutual that obligates the city to follow through on the streetcar plans.
The streetcar is vital to making the finances of the project work for Mutual.
Having the streetcar run by Mutual’s current midtown campus enhances the property’s redevelopment value, helping defray the cost of building the new high-rise downtown.
The development agreement places other obligations on the city, including the $99 million purchase of Mutual tower’s parking garage. Similarly, the agreement calls for the city to acquire and operate for public use the three parking garages on the current Mutual of Omaha campus in midtown.
Redevelopment of the former campus is an “important prospect of our plan,” Blackledge said.
The project’s development agreement and approval of about $60 million in tax-increment financing for the tower sped through City Hall with ease.
Other city plans call for opening a new downtown library branch on Jones Street and building a new main city library at 72nd and Dodge.
Mutual of Omaha’s tower represents the first significant addition to downtown Omaha’s skyline in a generation.
It also may be the largest single infusion of workers into Omaha’s downtown core. The move of Mutual of Omaha’s metro workforce of 4,000 into downtown dovetails with an ambitious chamber of commerce goal of pulling 30,000 additional jobs and 30,000 new residents into Omaha’s urban core over the next two decades.
“Our success is tied to this city’s success,” said Blackledge. “We are 100% invested in that.”
Top Journal Star photos for January 2023
Nebraska Supreme Court Chief Justice Michael Heavican (left) swears in the new senators for 2023, on Wednesday, Jan. 4, 2023, at Nebraska State Capitol in Lincoln.
Sen. John Fredrickson shows his son, Leon, the inside of the west wing on the first day of the 2023 Legislature on Wednesday, Jan. 4, 2023, at the Nebraska State Capitol in Lincoln.
Kristina Konecko, an administrative aide for Sen. Mike Jacobson of North Platte, boxes up items at his old desk Tuesday at the Capitol. The new session begins Wednesday.
Gov. Jim Pillen shakes hands with Senator Tony Vargas after the inauguration ceremony for the governor on Thursday, Jan. 5, 2023, at Nebraska State Capitol in Lincoln.
A camera flash illuminates the newly elected Gov. Jim Pillen (center left) as he is escorted through the rotunda to the West Chamber to be sworn in on Thursday at Capitol in Lincoln.
Milford's Izzy Yeackley (left) grabs a rebound in front of Malcolm's Emma Brown on Thursday in Malcolm.
Tell Hanes (left) of the Waverly Fire Department and Southeast Rural Fire's Trey Wayne jump over freezing water to high-five while practicing surface ice rescues Friday at Holmes Lake. "We try to run these trainings for both our students and local first responders to make sure they are ready in case anything real happens," said Andrew Saunders, of the International Rescue and Relief program at Union College.
Lincoln Southeast's Kaitlyn Freudenberg (from left) tries to hold onto the ball against Lincoln Southwest's Brinly Christensen and Aniya Seymore on Friday at Lincoln Southwest.
Nebraska's Kendall Moriarty does push-ups as her teammates cheer after the Huskers beat Penn State on Wednesday at Pinnacle Bank Arena.
Nebraska's Brock Hardy (right) wrestles Minnesota's Jakob Bergeland in the 141-pound match, Friday, Jan. 13, 2023, at the Devaney Center.
Ali Al-Mohammed, 17, kicks a soccer ball after school on Tuesday in front of Park Middle School. Renovations at Park that were part of the 2020 bond issue included a new cafeteria space.
Parkview Christian's Isabella Minatti (middle, right) is fouled against Johnson-Brock during a MUDECAS Tournament semifinal game Thursday at Beatrice Auditorium.
Nebraska's Emmanuel Bandoumel makes a dunk against Illinois' Matthew Mayer on Tuesday at Pinnacle Bank Arena.
Nebraska's Derrick Walker is introduced before the Illnois game, Tuesday, Jan. 10, 2023, at Pinnacle Bank Arena.
A truck passes over an icy Platte River along U.S. 6 on Friday near Ashland. Friday's temperature failed to get above freezing, but the forecast for Saturday and Sunday is much better, with temperatures in the high 40s and low 50s before precipitation chances Sunday night and Monday.
A pair of ice skaters journey across a frozen Holmes Lake at sunset on Friday, Jan. 13, 2023, in Lincoln. As winter continues, weather this week will be consistently in the 40s with a dry weekend.
Ohio State's Rebeka Mikulášiková collides with Nebraska's Maddie Krull as they battle for the ball underneath the rim in the third quarter Saturday at Pinnacle Bank Arena.
Kyrie Kelley-Johnson, son of Lincoln High head coach Dominique Kelley-Johnson, tries to keep the attention of the players while the Links stretch before their game Saturday at Lincoln High.
Governor Jim Pillen (center) announces the appointment of former governor Pete Ricketts to Nebraska's open senate seat, during an announcement on Thursday, Jan. 12, 2023, at Nebraska State Capitol in Lincoln. The vacancy, left open by the departure of Ben Sasse, has been expected to go to Ricketts after his depurate from the governorship last year.
Oscar and Yenifer Contreras, (left to right) both family workers, enjoy some of the food they made before lunch on Wednesday, Jan. 11, 2023, at Restaurante & Bar Sabor Latino in Lincoln.
Parker Moll braves a mix of snow and rain to clear the driveway outside his family's home on Wednesday.
Ohio State's Zed Key (left) lays the ball into the basket off of the backboard against Nebraska's Derrick Walker on Wednesday at Pinnacle Bank Arena.
Nebraska's Sam Griesel (right) embraces teammate Keisei Tominaga after defeating Ohio State on Wednesday at Pinnacle Bank Arena.
Nebraska's Isabelle Bourne (left) is blocked at the rim by Maryland's Gia Cooke on Sunday at Pinnacle Bank Arena.
Lincoln Pius X's Jackson Kessler (middle, bottom) celebrates after hitting a three-point shot against Lincoln Southwest on Thursday at Pius X High School.
Nebraska's Allie Gard completes a back hand spring during her routine on the balance beam during their duel against Maryland on Saturday, Jan. 21, 2023, at the Devaney Sports Center.
Lincoln Pius X's Nate Schauer (left) and Treyson Anderson celebrate after defeating Omaha Skutt on Tuesday at Pius X High School.
Nebraska's Denim Dawson bites a towel after the Huskers lost to Northwestern on Wednesday at Pinnacle Bank Arena.
Leona Nissen (left) and Mackenzie Derowitsch chat during some one-on-one mentorship time at Lincoln Lutheran on Thursday. The 6-12 school has implemented a new mentor program called Warrior Walk that pairs a middle school student with a high school counterpart.
April and Stormi Mrsny hurtle down the hill on their sled while followed by their dog, Penni, on Monday at Pioneers Park. Chilly temperatures are in the forecast this week ahead of an Arctic air mass that could arrive by the weekend.
Gov. Jim Pillen delivers his State of the State address on Wednesday at the Capitol in Lincoln.
Lincoln High School senior Kristie Trinh was recently selected for the prestigious United States Senate Youth Program.
John Lee (left), an opponent of LB77, open carries his great-great grandfather's musket outside a Judiciary Committee hearing on Thursday at the Capitol. "This is the only arms that they knew of when they were writing the Constitution," Lee said. LB77 would remove a requirement that gun owners obtain a permit to be able to carry a concealed weapon.
