Development of Mutual of Omaha Headquarters Tower (Project Beacon) On January 26, 2022, then-Mayor
Jean Stothert and
Mutual of Omaha CEO James Blackledge announced a pair of major developments for the city. Mutual of Omaha will move its headquarters into the downtown core to the site of the former
W. Dale Clark branch of the
Omaha Public Library. Alongside this, Stothert also revealed plans for a
streetcar from the riverfront park to the
University of Nebraska Medical Center. The plan entailed the library branch to be out of its current building by September 2022, with demolition in December. On February 2, 2022, the
Omaha City Council voted 4 to 3 to approve lease agreements for a new downtown library location, in a building at 1401 Jones Street, a spot just west of the
Old Market. The skyscraper has a projected price tag of $443 million, later updated to $600 million. On February 25, 2022, Mutual of Omaha requested more than $60 million in
tax increment financing.
Omaha Planning Department documents and plans submitted to the city refer to the tower as "Project Beacon." The
skyscraper will include of office space and 2,200 parking stalls, which would be open to public use during evenings and weekends.
Construction Groundbreaking of the Mutual of Omaha Headquarters Tower occurred on January 25, 2023, with Mayor Jean Stothert noting that "our goals are the same, to rebuild and reactivate downtown through development". In April 2025, the Mutual of Omaha Headquarters Tower reached an estimated height of and 32 stories, and installation began of glass panels on its exterior. By September of that same year, the buildings shear core reached above , surpassing that of
First National Bank Tower. In October 2025, the building's shear core
topped out, and the building's structural steel topped out in March 2026. ==Design==