Mutual of Omaha is exploring the creation of a mixed-use urban neighborhood with residential, commercial and green space east of its headquarters at 33rd and Dodge streets.

The 8-acre area, from 31st to 33rd streets, Dodge to Farnam, is the first major redevelopment initiative tied to the Destination Midtown

Mutual has developed a strategic alliance with ECI Investment Advisors, Inc. to complete an economic analysis, appropriate feasibility reviews, environmental study and construction estimates. John McClelland, senior vice president-administration for Mutual of Omaha and a member of the Destination Midtown board, said the neighborhood redevelopment initiative will be guided by the principles and objectives outlined in the Destination Midtown study.

“The vision of Destination Midtown is to establish a vibrant and distinct urban environment that promotes economic development activities, advances neighborhood revitalization, and forges unique partnerships,” McClelland said. “Our initiative shares those objectives.”

If the project is approved, the area that now consists of vacant office buildings and underutilized parking lots would experience a massive makeover. Mutual of Omaha envisions a multi-use concept including residential units, a pedestrian-oriented retail environment, entertainment, green spaces and park. All improvements and additions would complement the surrounding residential and commercial areas.

“We believe this area could not only be a great place to live and work, but a destination spot for people living in other parts of the city,” McClelland said. We want to give people another great reason to visit, work, shop and live in Midtown Omaha.”