Renewed hope in a section of the city that needs some good economic news.

The restoration of a 100 year old apartment building in North Omaha could be the catalyst for more development to come.

The historic building near 16th and Yates has become a blend of the old and the new.

The Margaret was showing her age.

Built in 1916, the l-shaped apartment building epitomized progress in a vibrant North Omaha.

The Margaret was built to stand the test of time.

But as times changed, Margaret fell into disrepair, becoming a community eyesore, a decade-long dead space.

But there was a beauty below the surface for those who cared to look.

"The eyesore that it was you really missed the opportunity that was in this building that existed the way that we perceived the restoration," Annette Artherton said.

Today, the Margaret hopes to breathe new life into North Omaha.

The newly restored structure emanates a modern style complete with geothermal heating and cooling systems, solar panels for hot water, energy efficient appliances and windows.

The four story, affordable, 16 apartment development stands as a testament to perseverance.

Omaha City Councilman Ben Gray once lived in a fourth floor apartment here.

"This was a challenging area for a time and we're starting to turn things round here and we're starting to make a difference all over North Omaha," Gray said.

The Omaha Economic Development Corporation gathered more than $3 million to restore the old girl.

And she hopes to provide a springboard for a community moving forward.

"We believe that this is going to be a good catalyst for helping to continue the work of the development of this neighborhood," Michael Maroney, President of the Omaha Economic Development Corporation said.

"It's another positive step forward in removing the blight, reusing the space," Artherton said.

Artherton sees the Margaret as more than brick and mortar. It provides a fresh start as the new girl on the block begins her second life in this North Omaha neighborhood.

"It shows the community is engaged, the community is hopeful, the community sees promise," Artherton said.

Another "Green" benefit to renovating the old building is the impact on our landfills.

Proponents say the brick alone would have added up several tons of waste.

We're told 12 of the 16 apartments are already leased out.

Those tenants will begin moving in by early December.