The Muse apartments (Micklin Lumber)

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Brad
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The Muse apartments (Micklin Lumber)

Postby Brad » Mon Mar 06, 2017 9:16 am

Creighton University students would be primary occupants of proposed 240-unit apartment complex

http://www.omaha.com/news/metro/creight ... d098d.html

By Christopher Burbach / World-Herald staff writer wrote:The latest redevelopment proposed for north downtown Omaha calls for building more than 200 apartments on the Micklin Lumber/Ace Hardware Store site at 20th and Izard Streets.

College students, mainly from Creighton University, would be the target market for The Muse apartments, according to city documents.

It would be another part of the neighborhood’s conversion away from its historic roots. Micklin Lumber is liquidating after 97 years of business.
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Re: The Muse apartments (Micklin Lumber)

Postby Garrett » Mon Mar 06, 2017 9:35 am

Sheesh! 240 apartments is quite the substantial development for this area. This would probably be the biggest apartment development in North Downtown, no?
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Re: The Muse apartments (Micklin Lumber)

Postby skinzfan23 » Mon Mar 06, 2017 9:37 am

I think we briefly talked about this before, but I still hope they don't tear down this warehouse 1 block to the north that was built in 1890. I did notice that it is already listed as being owned by Vecino which is the developer.

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Re: The Muse apartments (Micklin Lumber)

Postby skinzfan23 » Mon Mar 06, 2017 9:38 am

There is a brief summary of the building on the restoration exchange omaha's website:

HEART BOMBING SHOWCASES BUILDINGS READY FOR NEW LIFE

1114 Florence Boulevard
The building was built in two parts: the south half was constructed circa 1890 as the Stephenson & Williams livery stable tied to a house next door. By the early 1900s, it was part of the Omaha Van & Storage Co. and served as a warehouse. The northern half was constructed around 1920 in a similar architectural style. By the 1960s, the building was used for general storage. It is one of a few remaining examples of 19th century warehouses in the area and was recently identified as an “active resource” in the North Omaha Historic Building Survey completed in June of this year, meaning it is a likely candidate for both state and federal tax credit rehabilitation programs.

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Re: The Muse apartments (Micklin Lumber)

Postby Taco » Mon Mar 06, 2017 10:01 am

I should hold my judgement until I see the renderings, but who would want to live here if they can afford $900/month rent?

This smells like an out of town developer who isnt reading the market quite right.

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Re: The Muse apartments (Micklin Lumber)

Postby GetUrban » Mon Mar 06, 2017 11:48 am

Wow, and I thought I read somewhere recently that there would be nothing happening downtown for the next 5-10 years.
He said "They are some big, ugly red brick buildings"
...and then they were gone.

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Re: The Muse apartments (Micklin Lumber)

Postby Ben » Mon Mar 06, 2017 1:51 pm

Is Creighton enrollment going up, and I didn't hear anything about it?

This now seems like tons of new apartments to absorb, between this project and CUMC, that's what, like 750 or so new units, right?

In the last 5-10 years, Creighton build a bunch of on campus dorms/apartments, plus I'm sure some of the North Downtown apartments that have been built/are in process are Creighton kids, now these additional 750 units. Just seems like a ton of housing for a school that hasn't vocally pushed an enrollment expansion.

Plus, with the Academic Medicine transferring to Bergan, you'll likely have migration of most of the med students/residents to midtown somewhere, so I'd actually expect a decrease in demand, not increase...

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Re: The Muse apartments (Micklin Lumber)

Postby iamjacobm » Mon Mar 06, 2017 3:16 pm

The concept is a little different than the other options as your lease is tied to your bedroom instead of the entire unit, like most of the new housing in DTL does. It certainly is a risk given the location.

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Re: The Muse apartments (Micklin Lumber)

Postby guest2017 » Mon Mar 06, 2017 4:05 pm

Ben wrote:Is Creighton enrollment going up, and I didn't hear anything about it?

This now seems like tons of new apartments to absorb, between this project and CUMC, that's what, like 750 or so new units, right?

In the last 5-10 years, Creighton build a bunch of on campus dorms/apartments, plus I'm sure some of the North Downtown apartments that have been built/are in process are Creighton kids, now these additional 750 units. Just seems like a ton of housing for a school that hasn't vocally pushed an enrollment expansion.

Plus, with the Academic Medicine transferring to Bergan, you'll likely have migration of most of the med students/residents to midtown somewhere, so I'd actually expect a decrease in demand, not increase...


Short answer - you're either not a Creighton alum or you're not paying that close of attention. :) Enrollment is up 20.3% in the past decade.

...I'm a two-time Creighton alum.

Undergrad students are basically capped at where they are. They have grown 3% in the past decade (4,203 this year) - but the requirement that undergraduates live on campus makes it difficult for them to grow without a huge housing investment - and I'm not sure they are pushing for more undergrads, but the mix of them has drastically changed too.

The number of graduate students has grown 44% in the past decade, nearly equaling the number of undergrads (4,190 this year). There was no reasonable housing for juniors, seniors or graduate students near campus when I graduated, which is why you saw The Wire and other developments fill up really quickly - a very large amount of them are Creighton students. When I graduated, your options were Opus or Davis halls - which were full - or rent an apartment at Capital Hill.

If you're a junior, senior or grad student and want to live by campus, you're relegated to apartments, the two apartment-style dorms or buying a house on the west side of 30th. With about 6,200 people that represent that population, the apartment swell in this area makes sense. I would guess with housing being the way it is in Omaha, the typical college students who used to buy houses in the area west of 30th (and rent to their friends) are now renting apartments. Just a hunch though.

In the last 5-10 years, Creighton has not really built THAT MANY dorms. I graduated in 2009 and their newest ones (Opus and Davis) were built before then.

The Medicine students will not migrate - their classes are still going to be on campus and they will still reside nearby. Just my opinion.

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Re: The Muse apartments (Micklin Lumber)

Postby OverlookedFarm » Mon Mar 06, 2017 4:57 pm

Taco wrote:I should hold my judgement until I see the renderings, but who would want to live here if they can afford $900/month rent?

This smells like an out of town developer who isnt reading the market quite right.


True.
Even the smallest trustfunder knows that leaving your car on the surface lot in that neighborhood is risky business.

I shop at micklin when im over lunch downtown. Sad to see it go. Truely a relic.

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Re: The Muse apartments (Micklin Lumber)

Postby skinzfan23 » Mon Mar 06, 2017 7:59 pm

Ben wrote:This now seems like tons of new apartments to absorb, between this project and CUMC, that's what, like 750 or so new units, right?

The Landing is 731 units and this is 240. Total of 971.

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Re: The Muse apartments (Micklin Lumber)

Postby Coyote » Sat Mar 25, 2017 11:02 am

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Re: The Muse apartments (Micklin Lumber)

Postby RNcyanide » Sat Mar 25, 2017 12:30 pm

It's bigger than I thought it would be.
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Re: The Muse apartments (Micklin Lumber)

Postby MadMartin8 » Sat Mar 25, 2017 3:13 pm

RNcyanide wrote:It's bigger than I thought it would be.


*Giggles* :thumb:
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Re: The Muse apartments (Micklin Lumber)

Postby TitosBuritoBarn » Sat Mar 25, 2017 8:46 pm

Looks really nice. They really must be really ambitious about that neighborhood though.
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Re: The Muse apartments (Micklin Lumber)

Postby skinzfan23 » Thu Mar 30, 2017 1:43 pm

It appears that the warehouse buildings on Florence Blvd, one block to the north will not be torn down according to the documents submitted to the city council.

Says the developer was planning on demolishing the structure but will preserve it at this time after learning that it has some historical value.

Sounds like the plan is to have the project complete by August 2018.

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Re: The Muse apartments (Micklin Lumber)

Postby Nick808402 » Thu Mar 30, 2017 10:44 pm

guest2017 wrote:
Ben wrote:Is Creighton enrollment going up, and I didn't hear anything about it?

This now seems like tons of new apartments to absorb, between this project and CUMC, that's what, like 750 or so new units, right?

In the last 5-10 years, Creighton build a bunch of on campus dorms/apartments, plus I'm sure some of the North Downtown apartments that have been built/are in process are Creighton kids, now these additional 750 units. Just seems like a ton of housing for a school that hasn't vocally pushed an enrollment expansion.

Plus, with the Academic Medicine transferring to Bergan, you'll likely have migration of most of the med students/residents to midtown somewhere, so I'd actually expect a decrease in demand, not increase...


Short answer - you're either not a Creighton alum or you're not paying that close of attention. :) Enrollment is up 20.3% in the past decade.

...I'm a two-time Creighton alum.

Undergrad students are basically capped at where they are. They have grown 3% in the past decade (4,203 this year) - but the requirement that undergraduates live on campus makes it difficult for them to grow without a huge housing investment - and I'm not sure they are pushing for more undergrads, but the mix of them has drastically changed too.

The number of graduate students has grown 44% in the past decade, nearly equaling the number of undergrads (4,190 this year). There was no reasonable housing for juniors, seniors or graduate students near campus when I graduated, which is why you saw The Wire and other developments fill up really quickly - a very large amount of them are Creighton students. When I graduated, your options were Opus or Davis halls - which were full - or rent an apartment at Capital Hill.

If you're a junior, senior or grad student and want to live by campus, you're relegated to apartments, the two apartment-style dorms or buying a house on the west side of 30th. With about 6,200 people that represent that population, the apartment swell in this area makes sense. I would guess with housing being the way it is in Omaha, the typical college students who used to buy houses in the area west of 30th (and rent to their friends) are now renting apartments. Just a hunch though.

In the last 5-10 years, Creighton has not really built THAT MANY dorms. I graduated in 2009 and their newest ones (Opus and Davis) were built before then.

The Medicine students will not migrate - their classes are still going to be on campus and they will still reside nearby. Just my opinion.


95% correct.

About 1/3 of the Med School class goes to Phoenix for 3rd/4th year. First and Second year classes will still be on campus.
The remaining Omaha students (~110) will do their rotations at Bergan Mercy for their 3rd and 4th year. Will some of them move out west? Probably. Still not a very big shift though.


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