Corvina (Butternut Site)

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

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Varsity
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Post by Varsity »

Agreed. Like everyone else I'm dreaming of something with more height, but anything that adds more people downtown on a permanent/nightly basis makes me a very happy camper, especially considering that the lots these 4-6 story apartment buildings are going on really never would get the attention of anything significant with more height (at least not for a LOOONNGGG time)

Overall I really like this development. Great location and unique with the courtyard and in ground pool, and the parking garage with more spaces than they need is nice too considering the building is already there.

I'd absolutely love to see the south riverfront get developed. I keep getting excited whenever I think back to the master plan or hear the tidbits about those lots up for sale but it seems like nothing concrete ever comes of it. But fingers are still crossed, and this certainly isn't going to hurt that movement.
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iamjacobm
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Post by iamjacobm »

The natural progression for urban development is rehab empty space, build new 3-6 floor buildings, build high rises buildings.  We are leaving the rehab phase and entering the second phase.  That is the natural growth for nearly every city.  At a certain point all these 5 floor buildings will become more or less the same and the only way to differentiate your project from others will be to go up.

As for this project specifically it is just another piece to solidify the Old Market.  We should have 300 apartment units u/c in 3 projects in the Old Market/Market West area.  That is a lot of people to help support Patrick's Market and the bars, restaurants and coffee shops.  This project also shows a good progress in tenant amenities which will open up downtown to even more people looking for certain type of things in their apartments.

I think this also shows how valuable the property is directly adjacent to the Old Market.  Things might start moving quickly because before long there wont be too many opportunities to invest in properties this close to the Old Market.  Companies are going to have to start grabbing property or face being left out of the area.
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RNcyanide
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Post by RNcyanide »

Looks good.
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S33
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Post by S33 »

I still think the next highrise is west of downtown, most likely MTC area. Cheaper land, turning into a great neighborhood.
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Post by MadMartin8 »

S33 wrote:I still think the next highrise is west of downtown, most likely MTC area. Cheaper land, turning into a great neighborhood.
I definitely can foresee a MTC Phase 2 with a bit of height added to it.
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Seth
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Post by Seth »

It's not a huge building, but I think it fits into the Old Market area pretty well.  It would fit in well with a few more stories, but at 4-6, it won't look out of place.  There are plenty of two and three-story commercial buildings in that area (heck, there's even single-story commercial space).

When Old Market fills up with developments like this soon, it will be fantastic for not only the MTC area, but everything in between.  There is so much potential and developable land on Harney and Farnam between 20th St. and 480 that is just begging for construction.  We are already seeing the early stages, with the new building on Park and Dewey, and more construction in the Market West area.
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Coyote
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RNcyanide
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Post by RNcyanide »

Wow it never struck me that's where it would be. I guess I wasn't old enough to remember that building while it was still standing.
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iamjacobm
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Post by iamjacobm »

Thanks for all the updates Coyote!  Greatly appreciated.

That picture makes me think the height of this building might be perfect.  Peek over some brand new apartments and see the Durham up on the hill still overlooking the Old Market.  Should make for a nice view.
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iamjacobm
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Post by iamjacobm »

Here is the development company's website.  Not much to see yet, but this quote is encouraging.

http://www.city-ventures.com/
To-date, City Ventures has over $50M in assets with $30+M in various stages of development.  Recent acquisitions have included a 58,000 SF neighborhood shopping center and the redevelopment of one of the Omaha Metro’s largest full service car wash & detail centers.  Projects currently under development include an urban, mixed-use project encompassing a full city block in Downtown Omaha, directly adjacent to the Old Market District.
Sounds like a company to keep an eye on!
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RNcyanide
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Post by RNcyanide »

Does any one specific business own the parking lot across the street to the north?
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iamjacobm
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Post by iamjacobm »

RNcyanide wrote:Does any one specific business own the parking lot across the street to the north?
The same company that owns the Embassy Suites owns that lot.  They also own the lot at 10th and Harney that is for sale.
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RNcyanide
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Post by RNcyanide »

iamjacobm wrote:
RNcyanide wrote:Does any one specific business own the parking lot across the street to the north?
The same company that owns the Embassy Suites owns that lot.  They also own the lot at 10th and Harney that is for sale.
Thanks.

Just curious. Considering this place will have its own parking on site, I thought it would be kind of strange to have a parking lot across the street from it...
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Coyote
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Post by Coyote »

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Post by almighty_tuna »

Wow, that will really be a change in the current streetscape there!
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Brad
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Post by Brad »

Too bad the elevations don't show it compared to 10th Street...
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iamjacobm
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Post by iamjacobm »

Really exciting project.  I like how our new construction near the Old Market has gone 75 to 100 to 125.  Obviously trending upwards showing a lot of demand for rentals.
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Coyote
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iamjacobm
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Post by iamjacobm »

Love it!  Where did you find the render?
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Coyote
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Post by Coyote »

Developer plans $22M residential space in Old Market
KETV, Tony Cornett wrote:Crews should break ground on the project in late winter or early spring. Cassie Seagren, with the city’s Economic Development, said the development is good for downtown.
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iamjacobm
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Post by iamjacobm »

Nice!  I still am surprised that they might be able to move up to 10K SF of commercial space here.  That is a lot off the beaten path.

This building looks really good though.  DTO kind of has the same red brick black panel look in the newer projects.  I really like the dark brick and lighter white upper floors.  Adds some diversity for us.
Last edited by iamjacobm on Tue Dec 10, 2013 10:30 pm, edited 1 time in total.
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Coyote
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Post by Coyote »

Yes, DTO follows the red brick scheme, which the butternut had, but place this next to the Durham Museum and it totally compliments this, see my previous photo of how the might blend in with an east 10 St look...
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RNcyanide
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Post by RNcyanide »

Neato!
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skinzfan23
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Post by skinzfan23 »

Glad to see that it should be completed in about 18 months.  With this and all the other apartment buildings being built right now, the downtown area is going to be much busier and look a lot different by the time of the Olympic Swimming Trials in 2016.
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Coyote
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Post by Coyote »

And the International Equestrian event  :;):
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Post by 6EQUJ5 »

And the Genesis comeback tour.  It may appear to be a little absurd for this now but I'll bet you it won't after it's done.
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iamjacobm
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Re: Butternut Site

Post by iamjacobm »

$3.335 million TIF request in this week's agenda.
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Coyote
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Re: Butternut Site

Post by Coyote »

I talked with some guts behind this project and it really sounds like everyone is excited. The third floor has private access from the viaduct, while the fourth floor will have a nice view of downtown!
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TitosBuritoBarn
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Re: Butternut Site

Post by TitosBuritoBarn »

Coyote wrote:I talked with some guts behind this project[...]
Is that how we are able to obtain the inside information that we do on this forum? We go in there armed with a level of assertiveness that regular journalists just aren't willing to do?
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Coyote
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Re: Butternut Site

Post by Coyote »

:lol: no, I still don't type well on an iPad, don't know when I'll get used to typing with one finger.
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iamjacobm
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Re: Butternut Site

Post by iamjacobm »

Good to hear! With the 4 apartment projects west of here wrapping up this summer we need to see something new rise to keep an eye on.
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iamjacobm
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Re: Butternut Site

Post by iamjacobm »

Forgot to mention yesterday but there is a construction trailer office on the site and I saw about a half dozen pickups with guys milling about the property. Probably going to start any day now.
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iamjacobm
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Re: Butternut Site

Post by iamjacobm »

Earth movers pushing dirt around today, looks like its begun!
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skinzfan23
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Re: Butternut Site

Post by skinzfan23 »

iamjacobm wrote:Earth movers pushing dirt around today, looks like its begun!
Great to hear.
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guitarguy
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Re: Butternut Site

Post by guitarguy »

Awesome! Another project to watch :mrgreen:
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Coyote
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Re: Butternut Site

Post by Coyote »

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MTO
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Re: Butternut Site

Post by MTO »

Since mark and Brad are slacking on this one.... Jk

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Re: Butternut Site

Post by MTO »

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Coyote
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Re: Butternut Site

Post by Coyote »

Yeah, I'm still waiting for footings, moving dirt is one thing.
But I do think they are full steam on this site...
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iamjacobm
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Re: Butternut Site

Post by iamjacobm »

"The Corvina"

http://thecorvina.com/

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