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B Street retail center to include two restaurants, business spaces, apartments
McCOOK, Neb. — If progress continues as planned, a former farm equipment building will be a new retail center with two restaurants, two apartments and an outdoor entertainment venue and space for other businesses by this time next year.
Blackwood Enterprises recently received an extension on the tax increment financing contract with the City of McCook after the pandemic slowed construction and raised prices, as it has on nearly all construction in the nation.
Called “Bethany Villiage,” the development has about 7,500 square feet after demolition and additions, was originally intended to have six business spaces, according to Josiah Hegwood, property manager for Blackwood Enterprises.
However, three spaces are destined to become space for a new, locally-owned sit-down restaurant, and one for a national fast-food franchise.
That leaves space for one other business and one space that will be reserved for short-term day rentals to benefit small local businesses that may need temporary retail space.
He said the identity of the businesses could be announced as soon as signed contracts are received, but he expects the franchise to be in operation in early 2022 with the sit-down restaurant shortly after that.
Plans for the local restaurant include outdoor seating, with a bar located to serve both inside and outside diners. Additional space will be available for music or other outdoor events.
A second floor of about 1,500 square feet will be added above the restaurant, with one one-bedroom and one two-bedroom apartment.
He said City Manager Nate Schneider and McCook Economic Development Corp. Executive Director Andy Long have been cooperative and helpful in seeing the project move forward.
The TIF agreement is now effective Jan. 1, 2022 with a new maturity date of the TIF bond Dec. 21, 2031. It made $200,000 available to the developer in a 15-year note with 5% interest.
