The University of Nebraska-Kearney has unveiled plans for a new 104-acre village. The development will be planned across from the Buckle headquarters on the south side of Highway 30.
It will offer housing, retail, and recreation to college students and the entire community. The university says the project will cost between $400-$500 million and could take up to 20 years to complete.
The first part of the project will be funded through bonds. A crucial part of the money will come through private and public partnerships, and they are also expecting donors to help finance the village.
Public meetings to discuss the proposal will begin in June. The university hopes to have construction begin by 2015.
"The University Village itself is designed to be really an urban village-type of setting with a pedestrian driven setting," said Chancellor Doug Kristensen.
The first building to be constructed would be a housing center geared towards juniors, seniors, grad students and students with families. The school also plans to have many other types of housing built in the next 20 years, which could help with the housing problem in Kearney.