Logan Building to go Indigo (18th and Dodge)

Downtown, Midtown, and all parts east of 72nd.

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TitosBuritoBarn
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Post by TitosBuritoBarn »

How big are they? They're a lot less expensive than what I pay for my bland apartment on the edge of the Bluffs.
Ben
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Post by Ben »

They don't seem to be doing any work on that building, at least from what you can see from the outside....

Any idea how "pending" this is?  Will it actually happen?  When?  Sorry to be the pessimist here, but I just haven't seen tons of projects started in the middle of a recession, especially when large amounts of financing are needed to refurbish the structure.
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Post by Historic Omaha »

The owner/developer applied for TCAP/Section 1602 funds (HUD/Treasury - ARRA programs) and did not receive them - administered in Nebraska by NIFA/NEDED

The project has an approved HPCA Part 2 (historic rehabilitation tax credits) with conditions.

The project has received an allocation of LIHTC from NIFA.

If the project moves forward and is completed, the owner/developer will need to comply with rental rates for low/moderate incomes (I don't know the ratio/mix of low vs. moderate rates - you could probably ask someone at NIFA - I don't know if it is public info yet).  The point is the project (and the rates) would need to comply for 30 years - this project will have low/moderate rental rates for downtown Omaha.  The rates for downtown Omaha will be highly than something comparable in West Omaha - B/C IT IS IN DOWNTOWN OMAHA!


There are several projects in the works (market rate and low/moderate), and I have been getting more inquires lately about the historic tax credits.
Two projects (that I can mention) that I hope start within this year (b/c they have been "brewing" for awhile now...) - The Margaret Apts. (16th & Yates) and the Gahm Block (12th & Howard).  The Margaret will be low/moderate income while the Gahm Block will be market rate.
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Post by Historic Omaha »

One other thing...

19th & Dodge is pretty desolate now, but if Mr. Volleck ends up developing the N.W. Bell tower and The Logan Apts. are completed - these two projects will significantly change the look and feel of that intersection.  Mr. Volleck had the N.W. Bell tower listed in the National Register of Historic Places in order to take advantage of the historic rehabilitation tax credits.
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Post by nebport5 »

Historic Omaha wrote:The rates for downtown Omaha will be highly than something comparable in West Omaha - B/C IT IS IN DOWNTOWN OMAHA!
You'd think, but have you flipped through a For Rent book lately?  Granted, the DT market is smaller, (i.e. less choice, supply and demand) but I don't see that the rest of Omaha gives you a whole lot more for your money unless its old or not recently remodeled.


thanks for the info.
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Post by Historic Omaha »

I wonder if those Logan rent #s haven't been updated in some time - alot can happen in the market in the nearly 3 years since I toured the building in 2007 - as we have witnessed.

When the project was ramping up, Brandeis was still up in the air - now that building is filled with many 1 bedroom units, close to the 900-1000 range.  If the Logan project moves forward, they might need to rethink their rent amounts, maybe that is why the project hasn't moved forward yet - they need the figures shown on the website to make the project feasible.

Oh speculation...
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Post by Finn »

Historic Omaha wrote:
The rates for downtown Omaha will be highly than something comparable in West Omaha - B/C IT IS IN DOWNTOWN OMAHA!


You'd think, but have you flipped through a For Rent book lately?  Granted, the DT market is smaller, (i.e. less choice, supply and demand) but I don't see that the rest of Omaha gives you a whole lot more for your money unless its old or not recently remodeled.


thanks for the info.
The LIHTC rates are set on median incomes.  Any project in the Omaha MSA (Douglas, Cass, Sarpy, Washington) will have the same maximum rent level no matter where the project is located (downtown or suburban).

Any rent differential is based upon the LIHTC level that the project is aiming to achieve - 50% or 60%.  The 50% level gets less rental income but gets more dollar-for-dollar credits against the federal income tax liability of the developer.
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iamjacobm
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Post by iamjacobm »

Obviously this project never happened.  This building seems like a natural candidate for rehab with the conversion taking place at it's next door neighbor.
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Brad
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Post by Brad »

Body found after downtown building fire

http://www.omaha.com/article/20130314/N ... lding-fire
Jay Withrow World-Herald Staff Writer wrote:The fire was contained to the elevator shaft, said Sgt. Matthew Rech, and the condition of the six-story building “was poor.''
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TitosBuritoBarn
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Post by TitosBuritoBarn »

Welp, might as well Butternut it by forgetting about trying to salvage anything and just level it for surface parking.
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Big E
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Post by Big E »

TitosBuritoBarn wrote:Welp, might as well Butternut it by forgetting about trying to salvage anything and just level it for surface parking.
'Merca.
Stable genius.
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Post by almighty_tuna »

Stargazer wrote:It would be nice to just see it just get occupied again... the block is dead.
I'll probably continue to A1A...Riverfront.....avenue...  :shrug:
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iamjacobm
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Re: Logan Building to go Apartments (18th and Dodge)

Post by iamjacobm »

According to Imperative Voice's fb page this building is on the city's demo list.
SaveOmaha
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Re: Logan Building to go Apartments (18th and Dodge)

Post by SaveOmaha »

Looking at the sales record of The Logan, this was purchased last November by America First Real Estate group. I would love to see them follow NuStyle's lead (with Slate on 19th) and help clean up the block. This is a huge building and has tons of potential.
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iamjacobm
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Re: Logan Building to go Apartments (18th and Dodge)

Post by iamjacobm »

SaveOmaha wrote:Looking at the sales record of The Logan, this was purchased last November by America First Real Estate group. I would love to see them follow NuStyle's lead (with Slate on 19th) and help clean up the block. This is a huge building and has tons of potential.
That is huge news!!
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Re: Logan Building to go Apartments (18th and Dodge)

Post by Midwestern »

Anybody heard anything about this moving forward? With the success of Slate and The Wire, this would seem to be a pretty safe bet for a profitable re-development as an apartment building.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by Midwestern »

LoganBuilding.jpg
LoganBuilding.jpg (208.83 KiB) Viewed 5590 times
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TitosBuritoBarn
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Re: Logan Building to go Apartments (18th and Dodge)

Post by TitosBuritoBarn »

Good thing we got rid of those row homes. Monstrosities.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by skinzfan23 »

Wish those residential units to the west were still there too. It is crazy to see how much they leveled the pavement on Dodge St.
Last edited by skinzfan23 on Fri Nov 13, 2015 8:48 am, edited 1 time in total.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by skinzfan23 »

TitosBuritoBarn wrote:Good thing we got rid of those row homes. Monstrosities.
Haha. I was posting that at the same time.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by yard salad »

I wonder if we'll see more action on this when the civic auditorium project moves forward.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by Joe_Sovereign »

skinzfan23 wrote:
TitosBuritoBarn wrote:Good thing we got rid of those row homes. Monstrosities.
Haha. I was posting that at the same time.
I believe it is Omaha City Code that only one building per city block is allowed. They had to be torn down.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by SaveOmaha »

yard salad wrote:I wonder if we'll see more action on this when the civic auditorium project moves forward.
That's a good possibility...
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Re: Logan Building to go Apartments (18th and Dodge)

Post by Louie »

Joe_Sovereign wrote:
skinzfan23 wrote:
TitosBuritoBarn wrote:Good thing we got rid of those row homes. Monstrosities.
Haha. I was posting that at the same time.
I believe it is Omaha City Code that only one building per city block is allowed. They had to be torn down.
Guh. That would be terrible.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by iamjacobm »

Midwestern wrote:Anybody heard anything about this moving forward? With the success of Slate and The Wire, this would seem to be a pretty safe bet for a profitable re-development as an apartment building.
With TIF and $1 million in historic tax credits there is a lot of subsidy available for a project here. Lets hope something is happening behind the scenes.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by MTO »

Saw a bunch of suits walking inside this building last week.
15-17, 26, 32
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Re: Logan Building to go Apartments (18th and Dodge)

Post by MTO »

Damñ hippies!

Image
15-17, 26, 32
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Re: Logan Building to go Apartments (18th and Dodge)

Post by daveoma »

:lol:
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justnick
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Re: Logan Building to go Apartments (18th and Dodge)

Post by justnick »

MTO wrote:Damñ hippies!

Image
these are everywhere. somebody does this every year. it's adorable.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by MTO »

justnick wrote:
MTO wrote:Damñ hippies!

Image
these are everywhere. somebody does this every year. it's adorable.
You mean they do that to a different old building they're wanting to save every v-day?
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Brad
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Re: Logan Building to go Apartments (18th and Dodge)

Post by Brad »

Restoration Exchange goes around and does stuff like this to old buildings from time to time.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by Varsity »

They put up the same kind of thing on Valentines Day on the beige painted building on 15th and Howard
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Re: Logan Building to go Apartments (18th and Dodge)

Post by c2o »

Dang. I didn't know CashMaster closed.
I guess i'm never getting my watch back.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by Joe_Sovereign »

I wonder what the issues are with this building that has held up it's restoration. It is in a great location for Creighton Students and like was mentioned earlier there is a lot of tax incentives for restoration.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by ShaneofCal »

TitosBuritoBarn wrote:Good thing we got rid of those row homes. Monstrosities.
Those are in the same vein as the famous San Francisco Victorians. Such a shame.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by Joe_Sovereign »

I was hoping this was an announcement of a restoration project.

I walked by this building last week, there was a homeless man sleeping on a pile of trash in the sunken stairwell on the east side of the building and another homeless man had set up on the front steps spreading out all of his possessions across the front steps.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by daveoma »

Joe_Sovereign wrote:I was hoping this was an announcement of a restoration project.

I walked by this building last week, there was a homeless man sleeping on a pile of trash in the sunken stairwell on the east side of the building and another homeless man had set up on the front steps spreading out all of his possessions across the front steps.
That's sad :-( hopefully the project and the homeless guys will get off the ground soon.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by Mystikbrian »

Today I got word concrete barricades went up around the old Logan. Anyone know what’s going on? I sure hope it’s renovation not demolition.
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Re: Logan Building to go Apartments (18th and Dodge)

Post by Brad »

Mystikbrian wrote:Today I got word concrete barricades went up around the old Logan. Anyone know what’s going on? I sure hope it’s renovation not demolition.
There’s a photo of the concrete barricades on the Forgotten Omaha Facebook Page. They are asking the same question there.
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iamjacobm
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Re: Logan Building to go Apartments (18th and Dodge)

Post by iamjacobm »

Sale traces back to New Generation Construction out of Lincoln less than a month ago. Only permit out is for a street obstruction so far.

EDIT: They submitted the permit and the city issued it on the same day which I have never seen anywhere I have done work. Hope they aren't trying to sneak a demo through b/c NGC has done good restoration work in Lincoln.
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