USA Today - Many downtown luxury apartments sit empty. Omaha next?
http://www.usatoday.com/story/money/201 ... /88621454/
Luxury building
Moderators: Coyote, nebugeater, Brad, Omaha Cowboy, BRoss
Re: Luxury building
I really hope not. I do think forever given wage stagnation that it is possible there will be too many luxury apartments downtown. I would really like to see more mid-range priced apartments downtown like $500-$700 for a one bedroom apartment.
Re: Luxury building
I guess I haven't really seen apartments rated like that before, but I really doubt much if any of what we are building DT(or anywhere in Omaha) would be considered 4-5 star "luxury" apartments in the markets that they are talking about.
- nativeomahan
- County Board
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- Joined: Fri Nov 12, 2004 2:46 pm
- Location: Omaha and Puerto Vallarta
Re: Luxury building
We don't have too many apartments renting for over $6,000 per month, so I see no similar problems on Omaha's housing scene.
Re: Luxury building
Downtown LA seemingly has a crane on every block, plus the market is being flooded with Chinese construction money. Very different situation than Omaha. I do think we will see a higher percentage of condos being built though.
Re: Luxury building
I agree with other sentiments here. Omaha has not been building at quite the scale of hyper expensive developments that I've seen elsewhere, including here in Chicago. One development here recently, in Uptown, which is not necessarily known for being the most in demand neighborhood, has studio's that can essentially only fit a twin bed renting for $1025.
OMA-->CHI-->NYC