Omaha Forums

OmahaChef wrote:I was out around 76th & Dodge yesterday, and there seemed to be a big yellow spinning crane up at this project.  Unless there is something else being built right near it.

Chef, I hate to burst your bubble, but I'm pretty sure that's the crane for the Children's Hospital expansion, not 80 Dodge.  Wrong side of the street.  Children's is south side of Dodge, 80 Dodge will be on the north side.  Just goes to show you the density that will be in this area once it is all complete.

Yeah, I'm sure this part of town is as foreign to Chef... as western Nebraska is to me.

LOL!  Yeah, I definitely felt out of my element.  Thanks for the correction.  From where I was standing it looked like it was on the north side, but now that you mention the CH expansion, I can see where it would have been there.  Dodge does make that curve up that way.

80 Dodge is truly a monumental development for Crossroads area.  I can not wait to see the condos rise from behind the newly remodeled shopping center.  I think that this development will do wonders for the baby boomers who are ready to move past the house and are not thrilled with the idea of living in a truly urban core.

80th and Dodge isn't QUITE in the urban core, but this project is a step in the right direction for turning Dodge Street into an urban core-adore (pun).

I said for people who wanted to live in a condo that is not in the urban core.

Woops, I missed the "not".  :)  I see you're already addicted.

I am not sure addicted is the right word after seeing the number of posts by some people on here.  I would call it enjoying.

From what I have heard this project is dead.  Can't get enough office tenants signed and they have been talking instead to a local hotel about moving in.  Bad timing with the present economy...

Local hotel?

This project is not dead.  Sales center is still open and we are still reserving units.  Let me make that clear.

adam186 wrote:This project is not dead.  Sales center is still open and we are still reserving units.  Let me make that clear.

Adam,
Where are you guys sitting with percentage of reserved units?

Close to 30%

adam186 wrote:Close to 30%

Is there a certain price range in which those are reserved and is there a common demographic reserving these units?

Oh yeah, what is the reservation goal to get this project up and going?

Best of luck but we shall see.  People don't look for other completely different options just for fun.  Don't get me wrong, the area is far better off if this one really flies.

cdub, I've sent you a PM that I hope explains things.

Expect demolition of the existing old Vaterott building (where the 80 Dodge Condominium building will sit) after the $2 million renovation of Beverly Hills Plaza wraps up later this year or very early next year.

S33 wrote:

adam186 wrote:Close to 30%

Is there a certain price range in which those are reserved and is there a common demographic reserving these units?

Oh yeah, what is the reservation goal to get this project up and going?

The lower floors reserved the quickest and now we are getting a ton of interest in combining larger units near the top.  So I would say the reserved units went for around $200,000 and $500,000 with interest in the +$750,000 range.

The goal is typically 40% to 60%, but depends which units sell and a number of other factors.  If we sold the top floor or a few very large units near the top, I'd say we'd be ready to go.  The lead developer has a very good track record with the banks.

adam186 wrote:

S33 wrote:

adam186 wrote:Close to 30%

Is there a certain price range in which those are reserved and is there a common demographic reserving these units?

Oh yeah, what is the reservation goal to get this project up and going?

The lower floors reserved the quickest and now we are getting a ton of interest in combining larger units near the top.  So I would say the reserved units went for around $200,000 and $500,000 with interest in the +$750,000 range.

The goal is typically 40% to 60%, but depends which units sell and a number of other factors.  If we sold the top floor or a few very large units near the top, I'd say we'd be ready to go.  The lead developer has a very good track record with the banks.

I can only assume you (npdodge) are keeping records of previous prospects right? I can explain later.

"The lead developer has a very good track record with the banks"    Yes, I've heard that.

S33 wrote:I can only assume you (npdodge) are keeping records of previous prospects right? I can explain later.

We sure do.  We have over 500 prospects in our database that have either registered on the website, checked out the sales center, or called our phone.

Not to upset Adam but now there is an actual plan drawn up for something else- single story retail and the extended stay.  It still looks to me like this project is dead.  It is very unfortunate for the city and the area because the new plans are certainly not as good.

I certainly hope this is not stalled.  The strip mall remodel is very different than the shake roof that use to dominate the building.

Photo Update:

LOL...  was driving by this afternoon as one of those missing sections of siding on the right end took off into the air like Dororthy's house...

Omaha condos face more scrutiny

http://www.omaha.com/index.php?u_page=1 ... d=10471347

CHRISTINE LAUE WORLD-HERALD STAFF WRITER wrote:A few Omaha condo projects could break ground later than originally planned, because lenders may require a higher percentage of pre-sales and potential homebuyers may hesitate to commit.

Still, experts say the strength of the local economy and the fact that the condo market is in its early stages set the city apart from other markets.

CHRISTINE LAUE WORLD-HERALD STAFF WRITER wrote:The two projects facing higher pre-sale requirements are 80Dodge, a 12-story condominium project at 80th Street and West Dodge Road, and Riverfront Place, a project north of downtown with one tower completed and nearly sold out and sales under way for the second tower.

Both are expected to break ground in 2009, but the uncertain economy makes it hard to determine when NP Dodge will hit the pre-sale requirements to start building, he said.

Of 80Dodge's 56 units, 14 are reserved. The project is about 25 percent pre-sold, but Redfield expects it would need to pre-sell about 60 percent in order to close a construction loan.

Those numbers look a little more bleak.  This will be a phenomenal project if it can get going.

The preliminary December Planning Board agenda shows a new plat on this property to accommodate the aforementioned retail and hotel.

This headline from Omaha.com says it all

"80Dodge condo project is called off"  

All I can say is this is just another piece of bad news for Omaha, along with the announcement of no swim trials in 2012 and the Royals moving out of Omaha proper... not a good day news wise, even though this may not be surprising.  

At least the developers are planning on having the a four-story extended hotel (which was mentioned earlier in this thread by cdub) going into the space this was planned for, but still this was such a great plan\idea that this is just sad for this area. A hotel will not have the same effect development wise as the Condo tower would, plus it almost 6 stories shorter....

Here's the link to this story about 80Dodge becoming another "proposed, but didn't happen developments"....

http://www.omaha.com/index.php?u_page=1 ... d=10504738

80Dodge condo project is called off

CHRISTINE LAUE WORLD-HERALD STAFF WRITER wrote:Developers who had planned a high-rise condominium project at 80th Street and West Dodge Road instead plan to build a four-story, extended-stay hotel and two single-story retail buildings. The hotel's demographic studies showed a need for an extended-stay hotel in the Dodge Street corridor from 72nd to 102nd Street to accommodate nearby employers and hospitals, Slusky said. The new plans call for two single-story retail buildings west of the existing strip center and planned hotel. Slusky said they would be an extension of the plaza with multiple tenants, not stand-alone single-tenant retailers. The new plans call for slightly more retail space at 19,000 square feet, compared with the original plans of 16,000 square feet.

I'm not too upset about this.  Hopefully this will benefit Wallstreet Tower.

Looks like cdub was right all along.

10thstgoober wrote:I'm not too upset about this.  Hopefully this will benefit Wallstreet Tower.

I don't think this will be much of benefit to the Wallstreet Tower project. The area around 80th and Dodge is much more suburban area with shopping, restaurants, medical facilities and easy access via West Dodge Rd\Dodge St versus Downtown, where there is a current lack of shopping and dining options (outside of the Old Market) and is in much more of an "urban" area. I have a feeling many people that signed on for 80Dodge were looking for the urban-style of living, while not actually living in Downtown Omaha, and probably were people who worked along the Dodge St corridor or further west along the West Dodge Expressway. In the future this area may be the home for a condo project much like 80Dodge (there is a lot of promise here), but for the time being it looks like we have to live with a four-story hotel and even more boring single-story retail buildings.... which doesn't do much for me (there are already plenty of single-story retail building (a.k.a strip malls) on Dodge).

I agree... no benefit to Wallstreet.  These people never wanted to live downtown.

Oh good, another hotel. Let's saturate that market too much like we did the restaraunt market in west Omaha and apparently the condo market as well.

TitosBuritoBarn wrote:Oh good, another hotel. Let's saturate that market too much like we did the restaraunt market in west Omaha and apparently the condo market as well.

In fairness, the condo market was never saturated.  It just looks that way when no one has any money to lend.

Can't really say that this is a surprise.  Kudos to the developer for having the sack to announce the project is off.  Maybe Townsend can learn something.

Big E wrote:

TitosBuritoBarn wrote:Oh good, another hotel. Let's saturate that market too much like we did the restaraunt market in west Omaha and apparently the condo market as well.

In fairness, the condo market was never saturated.  It just looks that way when no one has any money to lend.

With the Omaha Children's Hospital expanding and being as successful as it is, an extended stay hotel in that location probably isn't a bad decision.  

Despite the disappointment of not having a 12 story highrise, what will be built is infinitely better than another strip mall with "helicopter pad" architecture, as OmahaChef puts it.

This sucks!  I was looking forward to something with more substance than a strip mall...

Sorry guys

adam186 wrote:Sorry guys

It was a big project and a risky one, given that it had to compete with Aksarben and the Mutual project, as well as the current economy.  It was a cool idea tho.   It would have been nice to see it be a catalyst for more mid rise buildings in that area.