Omaha's Mutual Tower Tops Out as Nebraska's Tallest Skyscraper

OMAHA, Neb. — Mutual of Omaha's ambitious 44-story headquarters tower, rising on the west end of the Gene Leahy Mall, has officially topped out its structural steel in March 2026, surpassing the First National Bank Tower to become Nebraska's tallest building at 677 feet. Groundbreaking occurred on Jan. 25, 2023, with Chairman and CEO James Blackledge, Omaha Mayor Jean Stothert and other dignitaries wielding shovels to launch the project developed by Lanoha Real Estate Co. The tower, known as Project Beacon in city planning documents, spans approximately 800,000 square feet of office, meeting, collaboration and amenity space, plus a garage for 2,200 vehicles shared with the public evenings and weekends.

By April 2025, the structure reached 425 feet and 32 stories, with glass panel installation underway; its shear core exceeded 650 feet by September 2025 before topping out in October. Vertical construction hit Level 44 — the highest occupied floor — making it Nebraska's tallest ahead of a full top-out expected in November, though steel work concluded earlier this year. Mutual of Omaha requested over $60 million in tax increment financing in February 2022 to support the move from its Midtown campus to downtown, aiming to bolster urban economic vitality.

CEO Blackledge, reflecting on the shift from Midtown Crossing investments, emphasized redevelopment of existing sites while committing to downtown's revival. Mayor Stothert hailed the project at groundbreaking as key to 'rebuilding and reactivating' the core. Slated to open in 2026, the tower anchors Mutual of Omaha's growth in insurance and financial services, injecting new life into Omaha's business district.