Bellevue's $60 million indoor water park isn't just on track—it's ahead of schedule in some areas, and the city might save hundreds of thousands of dollars in the process. At the January 20, 2026 City Council meeting, Economic and Community Development Director Harrison Johnson delivered an update that had council members nodding with satisfaction: mass grading is complete, basement excavation is underway, and foundation work should wrap up by the end of January 2026. The $60 million bond's second tranche of $30 million is being issued right on schedule, and there's even talk of potential $700,000 savings if the city contracts directly with the slide vendor instead of going through the general contractor.
Current status: Mass grading complete, basements being dug, foundation work expected to finish by end of January 2026. Financial update: Second $30M tranche of original $60M bond (approved June 2024) now being issued by DA Davidson. Potential savings: City exploring direct contract with slide vendor for $700K savings. Timeline: Mid-2027 completion target remains on track. Key players: Harrison Johnson (Economic & Community Development Director), Mayor Rusty Hike, Pink Grading Inc (mass grading contractor), Holland Basham Architects (design), Olsson (engineering), DA Davidson (bond issuance), American Resort Management (operations partner).
Whether you're considering custom home building in Omaha or exploring construction projects in Bellevue, watching this $60 million project take shape offers a masterclass in large-scale development. The 140,000-square-foot Bellevue Bay indoor water park is rising at the northwest corner of Highways 34 and 75, anchoring what will become Bellevue's 515-acre entertainment district. For homeowners planning home additions or considering a basement finishing project, the construction timeline and budget management here demonstrate how major projects stay on track even with complex moving parts. The site is visible from the highway interchange, and Bellevue's new construction market is watching closely.
According to Harrison Johnson's January 20 update, Pink Grading Inc has completed all mass grading work. That means the site has been leveled, contoured, and prepared for the vertical construction phase. The next critical milestone—basement excavation and foundation installation—is currently underway and should be finished by the end of January 2026. This puts the project squarely on schedule for its mid-2027 opening target.
The city originally approved a $60 million bond in February 2024 to finance the water park construction. That bond is being issued in two tranches of $30 million each. The first $30 million was issued last year to cover initial site work, design, and early construction. The second $30 million tranche is now being issued through DA Davidson, the city's bonding firm, to fund the next phase of construction including the building shell, mechanical systems, and interior build-out.
One of the more interesting details from the council meeting: Bellevue officials are exploring the possibility of contracting directly with the water slide manufacturer instead of having the general contractor manage that piece. Johnson told the council this approach could save the city approximately $700,000. Water slides are a specialized component manufactured by companies like Whitewater West, which is providing the slides for Bellevue Bay. By cutting out the general contractor markup and managing the slide contract directly, the city keeps more of that $60 million budget in the actual facility rather than overhead.
Holland Basham Architects designed the facility with a wavelike canopy exterior and a retractable roof system from OpenAire. The water park will feature 3,386 feet of slides, with the tallest reaching 60 feet, plus a lazy river, wave pool, swim-up pool bar, and over 50 interactive water features including a 500-gallon tipping bucket. The facility will hold 415,000 gallons of water and include an arcade, gift shop, party rooms, and multiple dining options. An outdoor FlowRider wave machine will be added for summer months.
The water park is the anchor project for Bellevue's 575-acre Good Life District, one of five such districts permitted under Nebraska's Good Life Transformational Act. The state designation allows Bellevue to impose an occupation use fee within the district and capture a portion of sales tax revenue to finance infrastructure and recreational developments. The water park will connect via climate-controlled elevated walkways to hotels, dining, retail, and eventually other entertainment venues. Mayor Rusty Hike has repeatedly stated that the district is expected to add over $1 billion in new valuation to Bellevue's tax base.
Large-scale projects like Bellevue Bay offer important lessons for anyone planning construction in the Omaha metro. First, proper site preparation (like that mass grading Pink Grading Inc completed) is foundational work that can't be rushed. Second, strategic contractor selection—like Bellevue's consideration of direct-contracting the slides—demonstrates how informed owners can reduce costs without compromising quality. Third, phased funding (the two-tranche bond structure) shows how major projects manage cash flow without taking on excessive debt upfront.
Homeowners in western Bellevue, particularly near the Highway 34 and Highway 75 corridor, are watching this project for good reason. A functioning entertainment district with a world-class water park drawing thousands of visitors daily will significantly impact traffic patterns, retail development, and ultimately property values in surrounding neighborhoods. The district's goal is to attract visitors from a 250-mile radius, making this a regional destination. That level of visitor traffic tends to spur secondary development—restaurants, retail, services—which affects the character and value of nearby residential areas.
When operational, Bellevue Bay will be among the top 10 largest indoor water parks in the United States and the largest in the Midwest. The facility's 140,000 square feet puts it in the company of major destination water parks like Great Wolf Lodge properties and Kalahari Resorts. The retractable roof feature—allowing year-round operation regardless of weather—is a relatively rare design element that increases operational flexibility and guest experience. American Resort Management, the facility's operator, manages similar properties nationwide.
Beyond tourism revenue, the water park is projected to create several hundred jobs ranging from lifeguards and food service to management and maintenance positions. Construction jobs during the build-out phase are already contributing to the local economy. The city's stated goal is for the water park to generate sufficient revenue to pay for itself within 15-20 years, after which it becomes a net revenue generator for Bellevue's general fund. Mayor Hike has suggested this revenue could eventually reduce property taxes for Bellevue residents by 10-20%.
With foundations wrapping up by end of January 2026, the next visible phase will be vertical construction—the building shell rising above ground. That typically happens quickly once foundations are complete. By spring 2026, the basic structure should be recognizable from the highway. The retractable roof system, slide installation, and interior finishes will follow through summer and fall 2026. If the project maintains its current pace, Bellevue and neighboring communities like Papillion and La Vista should see the water park open in mid-2027 as projected.
For homeowners researching custom home building trends in Omaha or considering new construction neighborhoods near Bellevue, projects like Bellevue Bay signal where the metro's growth is heading. Sarpy County continues to be Nebraska's fastest-growing county, and infrastructure investments like the water park and entertainment district are both responding to and accelerating that growth. The design-build approach Bellevue is using—where design and construction are integrated under unified management—is the same methodology that helps homeowners complete complex residential projects without the miscommunication and finger-pointing that plague traditional bid-build projects.
