150k condos

MrWh1t3 · Post by **MrWh1t3** » Sun Oct 23, 2005 9:52 pm

Does anyone in the future see condos downtown, maybe north downtown coming up for sale where you could get 2 bedroom 1 or 2 bath 900-1000sq ft for around 150k price range?

Not like the current ones in that range like hill and St Clare. I would like something kind of like Ford Lofts or buildings like that or at least close to some action. I don't consider St Clare and Hill project downtown living.

Thank you.

eomaha · Post by **eomaha** » Mon Oct 24, 2005 12:06 am

There are some 2 bedroom, 1000 sq foot condos available in the Regis (directly north of 1600 Farnam) for ~$160,000.

futrecndvlpr · Post by **futrecndvlpr** » Mon Oct 24, 2005 3:51 am

In a related note, what the heck is going on at The Hill. It looks like there has been litte or no progress on that place the whole summer.

omahastylee459 · Post by **omahastylee459** » Mon Oct 24, 2005 10:44 am

if row19 will ever get built i bet those would be in that range, but we havent heard anything on that project for months

StreetsOfOmaha · Post by **StreetsOfOmaha** » Mon Oct 24, 2005 12:21 pm

Good call, Mike.

MrWh1t3 · Post by **MrWh1t3** » Mon Oct 24, 2005 2:54 pm

What is row19? I did a forum search and only came up with my post.

the1wags · Post by **the1wags** » Mon Oct 24, 2005 3:16 pm

http://www.eomaha.com/gallery/develop/134/

shengs75 · Post by **shengs75** » Tue Oct 25, 2005 10:39 am

Why would anyone want to live downtown and pay 200+, when you can get a house for that's the same price. I don't see a big market here in Omaha, unless average houses are 400 and up, and condos are 150 and up.

Condos cost too much here I think.

almighty_tuna · Post by **almighty_tuna** » Tue Oct 25, 2005 12:13 pm

I think that's just one of the bigger differences about Omaha housing. Living downtown is not really a necessity, its a nice-to-have. So its not as much of a competitive market compared to somewhere like NYC where if you don't live downtown you have incurred about 2hrs extra travel time. As long as living in DTO is not a have-to, pricing will likely remain at a premium - Creighton/Student housing notwithstanding.

Swift · Post by **Swift** » Tue Oct 25, 2005 12:24 pm

Even once I have kids, I'm still going to live downtown. It's just a matter of preference. Different strokes for different folks.

adam186 · Post by **adam186** » Tue Oct 25, 2005 2:52 pm

shengs75 wrote:Why would anyone want to live downtown and pay 200+, when you can get a house for that's the same price. I don't see a big market here in Omaha, unless average houses are 400 and up, and condos are 150 and up.

Condos cost too much here I think.

You're paying for the lifestyle, not the condo. Location, Location, Location. Like Swift said, some people like it, other don't. It's a lifestyle choice.

StreetsOfOmaha · Post by **StreetsOfOmaha** » Tue Oct 25, 2005 2:53 pm

Different hoagies for different fogies.

StreetsOfOmaha · Post by **StreetsOfOmaha** » Tue Oct 25, 2005 2:54 pm

shengs75 wrote:Why would anyone want to live downtown and pay 200+, when you can get a house for that's the same price. I don't see a big market here in Omaha, unless average houses are 400 and up, and condos are 150 and up.

Condos cost too much here I think.

Simple. Urban areas are better than suburban areas. ;)

shengs75 · Post by **shengs75** » Tue Oct 25, 2005 3:20 pm

That's ture. Location, location, location. I guess I wouldn't live downtown unless I work there. DTO is not like NYC, as mentioned form a previous post.

I guess my point is there shouldn't be a premium on downtown condos. I just don't see that many people anxious to move from nice houses to downtown condos. Unless, you're single with no kids, and maybe don't have a car. Otherwise, there really isn't much to offer by DTO. Where do you go for grocery shopping downtown? Everytime I go down there, it seems like everything is closed after business hours. There's not even that many people walking around. Besides the bars and restaurants. There really isn't that many places opened downtown. It would be nice to have at least some grocery stores and supermarkets downtown. Then I can see the convenience.

For those that are living downtown, do you still find yourself driving west or east to Council Bluffs to get groceries and miscellaneous stuff? I mean it's not like there's a mall down there or even a department store like in the old days.

Finn · Post by **Finn** » Tue Oct 25, 2005 3:27 pm

There's not even that many people walking around.

Loaded statement. Careful, some around here refuse to admit this!

But you bring up some good points. Downtown Omaha is coming around and the urban locaiton is different. Over the next several years, there will be more conveniences and amenities in downtown. The condo wave will help foster that development, but the millions of dollars invested over the past 5 years helped implement a critical mass that keeps growing. Those who choose to buy downtown now will be continually rewarded moving forward!

eomaha · Post by **eomaha** » Tue Oct 25, 2005 8:06 pm

I guess my point is there shouldn't be a premium on downtown condos.

Shengs... like anything else, it's market driven. If people truly don't want to pay that much money for condos downtown, they're not going to sell. As it happens however, they ARE selling. It just happens, the product doesn't appeal to YOU.

It's really no different than my having a complete disdain for expensive Hummer SUV's... yet they continue to have a following. I don't understand their appeal, yet many people seem to be buying them.

Consider a life 'triad' including work, entertainment, and shopping. For many, people downtown Omaha provides for 2 of those 3 categories. Unless your idea of entertainment is limited to going to the movie theatre (and even that can be a modest drive), most suburban areas only satisfy one of those areas. Downtown living obviously isn't for everyone, but alot of people are discovering it is for them.

DTO Luv · Post by **DTO Luv** » Tue Oct 25, 2005 9:38 pm

I can't think of any DT where there are tons of people out all the time. Even when I was in Chicago and stayed in the Congress Hotel right on Michigan Ave. across from Grant Park, there wasn't anyone out there at 1 in the morning when I was walking around.

Swift · Post by **Swift** » Wed Oct 26, 2005 1:21 am

shengs75 wrote:Besides the bars and restaurants. There really isn't that many places opened downtown. It would be nice to have at least some grocery stores and supermarkets downtown. Then I can see the convenience.

For those that are living downtown, do you still find yourself driving west or east to Council Bluffs to get groceries and miscellaneous stuff? I mean it's not like there's a mall down there or even a department store like in the old days.

People always say there is no grocery store downtown...Bucky's is a grocery store. Sure, it's also a gas station, but there is a grocery store inside. Sure, it's not a sprawl-mart grocery store, but they everything you would need (including a large wine selection).

Besides bars and resturants, what places do you want to be open??

the1wags · Post by **the1wags** » Wed Oct 26, 2005 8:33 am

True Buckys offers most everything you'd need, but often at an alarming price point. I've gone in there just for a snack and looked around at prices and thought people would have to be crazy to buy groceries there. Downtown needs some sort of actually grocery store, maybe not a "sprawlmart" but a midsize chain at least.

Swift · Post by **Swift** » Wed Oct 26, 2005 1:10 pm

THe prices aren't that alarming if you take into account that (if you work downtown, which most of the DT residents do) you spend less on gas, don't need a lawnmower...besides prices aren't really that bad at Bucky's. Still less than what I pay for my gorceries here.

MrWh1t3 · Post by **MrWh1t3** » Wed Oct 26, 2005 5:41 pm

I agree with some of the statements. I lived downtown for a year and personally, I think the prices they are asking are a little expensive for downtown Omaha. Let’s face it, $120k for 1 bed room 708 sf (Ford Lofts)? Omaha does not have "cool" of a downtown to demand those prices. I don't think at least and I have been to a lot of bigger cities. Every closes at 1am (bars) all the stores close at around 6pm or so (closed on Sunday).

It also makes me wonder why at the Ford Lofts the developer is giving $1,000 if you close by Oct 31st. usually people start giving things away when the demand slows down and they can't get rid of them at retail price. Any thoughts?

warwickland · Post by **warwickland** » Wed Oct 26, 2005 9:20 pm

"You know what, KC really honestly isn't that much more better in any way than Omaha. Like I said in a previous post, Omaha will be equal to KC in the next few years. If you haven't been to Omaha you don't know what you're talking about. For a long time Omaha was bigger than KC. You guys are way more suburban. "

- "DTO" on kcskyscrapers.com

http://www.kcskyscrapers.com/newforum/i ... 2#msg96072

kansas city:

3am bar closing time.

eomaha.com deserves a friendly jab back every once in a while.

*slips out*

Swift · Post by **Swift** » Wed Oct 26, 2005 10:07 pm

MrWh1t3 wrote:I agree with some of the statements. I lived downtown for a year and personally, I think the prices they are asking are a little expensive for downtown Omaha. Let’s face it, $120k for 1 bed room 708 sf (Ford Lofts)? Omaha does not have "cool" of a downtown to demand those prices. I don't think at least and I have been to a lot of bigger cities. Every closes at 1am (bars) all the stores close at around 6pm or so (closed on Sunday).

Well I live in San Francisco and I think you're wrong.

eomaha · Post by **eomaha** » Wed Oct 26, 2005 10:53 pm

Once again, the prices are driven by what the market will bring... not by what a few of us think is a fair price. I'm not hearing any stories emerging about these condominiums having trouble getting sold... on the contrary, there seem to be more and more developers throwing their hats in the ring... conversions, new construction, highrises, townhouses... you name it, we're seeing it.

redfield · Post by **redfield** » Thu Oct 27, 2005 6:09 pm

The national median price of a condo passed the national median price of a single family home a couple years ago. It should be no suprise to anybody that condos are selling at a premium to single family homes here. The bigger the city, the bigger the premium, and Omaha is growing fast.

As for the services, shopping, and hours downtown, the people have to come first, then you see those things follow. The downtown population is set to explode when all the condo projects on the market start getting completed and residents start to move in. Same goes for the lack of people on the streets.

I've been to a number of larger metro areas in the last two years myself, and while Omaha stacks up well to some of them, we've got a ways to go to catch others from my perspective. I'm excited to see what the future holds for our urban core.

We will hardly recognize downtown 5-10 years from now.

PS. I think the 1am closing time is lame. More than one attempt to change it for the downtown area has been made and shot down, but as more and more people move downtown, I'm sure it will come up again.

DTO Luv · Post by **DTO Luv** » Thu Oct 27, 2005 8:34 pm

I was thinking today about the DT grocery store and came up with this.

- The last I knew DTO's population was around 7,000. So 7,000 people in about 2 sq mi. is equal in density to Omaha's 3,400 per sq. mi. So you could argue that DT now has the population for a 'Bakers'. BUT if you go into the areas around DT, especially North DT to the near north side where there are hardly any people living. DT is blocked to the east by CB and the west by the interstate. If the neighborhoods around DT were more integrated into the core I don't think we'd see the retail void that we have now.

I'm still waiting for more RENTAL units to be offered DT. You need people of all economic levels to make a 'cool' DT.

Swift · Post by **Swift** » Thu Oct 27, 2005 10:54 pm

I'm waiting for South 13th St. to start taking off and become the artsy/bohemian area for young people looking to rent.

eomaha · Post by **eomaha** » Thu Oct 27, 2005 10:59 pm

http://www.eomaha.com/gallery/districts/11/

Swift · Post by **Swift** » Thu Oct 27, 2005 11:02 pm

I know, it's so gorgeous!! I can't believe that it doesn't teem with people already!

shengs75 · Post by **shengs75** » Tue Nov 01, 2005 11:42 pm

I hope you guys are right. I would love to see DTO grow, and I don't think condos is the key factor here. I think there needs to be more businesses downtown. If there are more people working downtown, more business, then that would definitely draw more people to live there. I guess it's a chicken and egg issue.

I used to work downtown by FNB tower, and I just wish there were more options for lunch. I also used to work by the World Trade Center in NYC. Boy what a difference. The streets are flooded during lunch hours. Even after work, there are people waiting for the bus, catching the subways, hailing a yellow cab. I kind of miss that in a way, and glad that Omaha isn't like that as well.

I do have a friend who lives downtown. He's single, works downtown, no kids, no car, so buying a condo downtown was an easy decision for him. I, on the other hand, have a family with a kid, and don't work downtown anymore, so I don't even find myself going there at all. I just wish there were more reasons for me to go downtown. I plan on checking out some concerts at the new Holland Concert Hall, but besides that even if I want to go to a bar or shopping, I can just go somewhere near without going downtown. I also wished there were more cultural activities downtown as well. More offerings like Taste of Omaha, Big O, Farmer's Market, etc. in the downtown area. It just seems like DTO is the fully utilized to its capabilities.

Enough of my ramblings. I love Omaha, and I hope it continues to grown.

Swift · Post by **Swift** » Wed Nov 02, 2005 3:06 am

Santa Lucia Festival, Summer Arts Festival, Jazz on the Green, Bemis...

shengs75 · Post by **shengs75** » Wed Nov 02, 2005 1:23 pm

But is it just me or are these events so small that not a lot of people even heard of or have attended them.

I went to the Santa Lucia Festival. It's nice to have something like that, but to me the size of it is a joke. Even some of the Italian festivals I've been to in Pittsburgh, PA is a lot bigger in size than this tiny festival.

Jazz on the Green is nice.

Big E · Post by **Big E** » Wed Nov 02, 2005 1:53 pm

Shengs, you seem to be quite adept at pointing out that cities with more people have more people.

(Yes, I typed that properly.)

-Big E

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150k condos

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