Developer plans about 250 apartments at former Ramada Plaza and Coco Key site

Ryan Spellman, owner of Parkway Development Company, stands outside what was once the Ramada Plaza water park and Coco Key on Monday afternoon. “It was a great property, back then I remember being a kid and coming to the old Holidome pool here. And then there was the Coco Key indoor water park which was awesome for a long time. But the last few years, it’s really taken a decline,” Spellman said. Crews recently demolished the hotel, making way for around 250 new apartments on the site. “These will be high-end luxury units, studios, one-bedroom and two-bedroom units. Amenities will include an outdoor pool, a very nice interior courtyard, a fitness center,” Spellman said. Spellman said another developer originally bought the land and had already built a hotel along 72nd Street. Next, Spellman’s group purchased nearly nine acres. He said they have had great success in the area south of Aksarben, with projects like Centerline Apartments. “There’s about 1.2% vacancies, so 98.8% occupancy,” Spellman said. “Which is really incredible, but it tells us that there is a real demand for housing, and so we are trying to meet that demand.” The Omaha Planning Board gave several approvals for the project at its August meeting. Spellman said they hope to start work this fall. Councilman Danny Begley echoed Spellman saying the property had become “run down”. He called the area prime real estate for development. “It’s a great location on Grover Street at 72nd. You’ve got the freeway here, and multi-family housing will be here as well,” Begley said. As for multi-family housing, at this month’s Planning Council meeting, city officials noted that nearly 1,400 units were pending approval on the August agenda. . Begley said the addition of hundreds of new apartments here is a good thing. “It will help solve the supply and demand problem. It will definitely help with that. It’s a step in the right direction,” Begley said.

Ryan Spellman, owner of Parkway Development Company, stands outside what was once the Ramada Plaza water park and Coco Key on Monday afternoon.

“It was a great property, back then I remember being a kid and coming to the old Holidome pool here. And then there was the Coco Key indoor water park which was awesome for a long time. But the last few years, it’s really taken a decline,” Spellman said.

Crews recently demolished the hotel, making way for around 250 new apartments on the site.

“These will be high-end luxury units, studios, one-bedroom and two-bedroom units. Amenities will include an outdoor pool, a very nice interior courtyard, a fitness center,” Spellman said.

Spellman said another developer originally bought the land and had already built a hotel along 72nd Street.

Next, Spellman’s group purchased nearly nine acres. He said they had had great success in the area south of Aksarben, with projects like the Centerline Apartments.

“There’s about 1.2% vacancies, so 98.8% occupancy,” Spellman said. “Which is really incredible, but it tells us that there is a real demand for housing, and so we are trying to meet that demand.”

The Omaha Planning Board gave several approvals for the project at its August meeting. Spellman said they hope to start work this fall.

Councilman Danny Begley echoed Spellman saying the property had become “run down”. He called the area prime real estate for development.

“It’s a great location on Grover Street at 72nd. You’ve got the freeway here, and multi-family housing will be here as well,” Begley said.

As for multi-family housing, at this month’s Planning Council meeting, city officials noted that nearly 1,400 units were pending approval on the August agenda. .

Begley said the addition of hundreds of new apartments here is a good thing.

“It will help solve the supply and demand problem. It will definitely help with that. It’s a step in the right direction,” Begley said.