Burlington Postal Annex (across from station)

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

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Big E
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Post by Big E »

Well, I'll ask...  is there really that much demand for high end rentals in downtown Omaha?  I hope so but I'm skeptical.

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Brad
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Post by Brad »

|expletive|!!!

I was hoping to hit the lottery first.  Its great for this great old building, but now we are going to loose a great place to take photos!

Better try to meet the owner.
StreetsOfOmaha
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Post by StreetsOfOmaha »

Great news!!! I love that it's one more anchoring project on the south end of the 10th St. Bridge.
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OmahaChef
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Post by OmahaChef »

That is a good question, Big E.  A few months ago, a one bedroom condo at the Beebe Runyan rented for $1795 a month.  That is a lot more than $1.15 a square foot at the Post Office Lofts.  My one bedroom at The Greenhouse will be $1.11 a square foot when my lease renews, up from $1.08 currently, so it seems pretty comparable.
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MTO
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Post by MTO »

This would be a good building to put some sort of a roof top terrace and take advantage of that awesome view.  
Now if the Burlington gets rolling this will make for a nice little gateway into south O.
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OmahaJaysCU
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Post by OmahaJaysCU »

Image

If it weren't for the railroad tracks, this area would make a wonderful restaurant, with plenty of outdoor seating, great views of downtown...

This project is great though, downtown needs more rental space.
Ben
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Post by Ben »

Looks like they may have started cleanup of the building in preparation of construction.  There's a dumpster now located in the driveway entrance along the 10th st bridge.  All sorts of random junk looks to have been removed from the interior (based on what you can see overflowing the dumpster).
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Post by j4nu »

This building reminds me of one in Lincoln.  It's an old water plant that was converted to apartments and the design might work here.  They turned the square footage immediately in front of the windows into a "Sun room" space and built a false exterior wall inside the building for sound proofing.  This wall has windows and french doors opening into the sun room space and makes for a neat effect.  I might have to get a picture to show what I mean.
Historic Omaha
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Post by Historic Omaha »

Can anyone contribute their thoughts on this building's potential success as high-end rental  (apartments)?  I am meeting with the owner, developer, architect and historic consultant this week regarding their plans for the building and would like some idea of the building's potential profitability.  I already realize the great view of downtown as an asset, but what about its location on the other side of the tracks?  I know that it wouldn't be a problem for me...but what about the typical condo/apartment individual?
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Brad
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Post by Brad »

Honestly I wish the post office would build a new facility by the airport and then have a hole south downtown development district, this building can be the anchor.
Ben
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Post by Ben »

Historic Omaha wrote:Can anyone contribute their thoughts on this building's potential success as high-end rental  (apartments)?  I am meeting with the owner, developer, architect and historic consultant this week regarding their plans for the building and would like some idea of the building's potential profitability.  I already realize the great view of downtown as an asset, but what about its location on the other side of the tracks?  I know that it wouldn't be a problem for me...but what about the typical condo/apartment individual?
I can see some initial hesitation at being "south of the tracks", but in the long run, this is actually a phenomenal location.  With all of the ongoing/proposed development in that area (Townhomes at Little Italy, Giovanna Rows, Burlington Station, this project), there should be a fairly significant residential population of condo owners/subletters/renters on that side of the tracks.  Plus, with the retail and dining planned for Burlington Station, plus the recently renovated Lucky 1001 (or whatever its called), this should eliminate any hesitation to the "south of the tracks" stigma and actually make this somewhat of a destination spot.  

I foresee this only being the beginning of significant development in this area.  There's very little room left in the OM, and with a significant chunk of land being swallowed up with the proposed North Downtown stadium, developers will be forced to look further south, west or north for plots to re-develop surrounding the OM/downtown area.
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Closing scheduled for 1/08

Post by IridiumFlare »

I have noticed the "for sale" sign still up on the building.  Word on the street is that the building is still under contract and is scheduled to close on 1/08 with development into luxury apartments shortly thereafter.  I would love to see that great building bustling with activity but am holding my breath - especially after watching the Burlington Station across the street just sit there with fading banners for the past several years.
Historic Omaha
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Post by Historic Omaha »

The development team is still working on their Historic Preservation Certification Application, so....... don't worry too much.
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Brad
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Post by Brad »

The Apartment project for the postal annex IS STILL ON!  Good source!
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Post by Bobcat »

Good news Brad.  The original article in the OWH said that it would be complete by Summer 2008.  What's up with developers saying one thing and not even coming close to hitting the mark?  It really puts a black mark on their reputation.  There are plenty of examples on each side around Omaha.
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Post by Ben »

Bobcat wrote:Good news Brad.  The original article in the OWH said that it would be complete by Summer 2008.  What's up with developers saying one thing and not even coming close to hitting the mark?  It really puts a black mark on their reputation.  There are plenty of examples on each side around Omaha.
It seems like anyone that has to apply for this "Historic Preservation Certification" that HistoricOmaha talks about above seems to run way behind on their schedule.  The last project that we saw this with was the PE Iler building on Howard (which still isn't done!!).
Historic Omaha
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Say it ain't so Joe...I mean Ben

Post by Historic Omaha »

Not true.

The Brandeis project (Townsend Dev.) is also utilizing tax credits and they are on schedule.

Three buildings near 13the and Leavenworth (Creighton Heath) and tax credit projects and they seem to be on schedule.

Any historic rehab. project that NuStyle was involved with in Omaha for the past 10+ years was a tax credit project (some also utliizing Low Income Housing Tax Credits).
Old Market Lofts (2 phases)
Tip Top
Drake Court
various historic schools
Ford Lofts (Dodge)
Farnam Building
and the list goes on...

Christian Christiansen has been involved in a few tax credits projects that seemed to be moving rather quickly
Joslyn Lofts
Butternut Lofts (aka The 9ines) - until it burnt down :(


Each project presents unique circumstances - some of which are not dictated by historic rehabilition tax credit program reviews.  There are always other factors at work, some not even controled by an applicant/developer, that affect the timing of projects.  Many of the rehabilitations in the Old Market HD and south (Rail and Commerce HD) were histroic tax credit projects at some point (late 1970s to present).  If anything, I don't think the general public realizes that what we have left in building stock is partly due to the tax credits.
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Post by OmahaChef »

This is good to hear.  If I get a job that pays better than the one I have now, I'd live there.  Of course, I'd have to be on the side facing the railroad tracks.  A trainwatchers dream....  Oh yeah, and the city view would be nice too.
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swiskus

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Post by swiskus »

Does anyone know if anything is in the works or has been discussed for the old Post Office Annex building south from the SoMa rowhouses on 10th Street?  It's got really cool windows and I would imagine a great view of the city...
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Brad
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Post by Brad »

Threads merged...

I talked to the architect right before the Holidays, project is back on hold.

Here is the View:
Image
swiskus

Post by swiskus »

So, the building isn't still for sale, even though there's a sign on it?
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Brad
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Post by Brad »

I don't know?  I think anything is for sale at a price.
the1wags
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Post by the1wags »

Postal Annex is still listed as for sale on the Grubb Ellis website. 77,076ft2. $2.1M.
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Brad
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Post by Brad »

the1wags wrote:Postal Annex is still listed as for sale on the Grubb Ellis website. 77,076ft2. $2.1M.
So much potential.  I really need to hit the Lottery!
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Post by windsor »

I would wager that this building starts construction in 2011.  Its a prime anchor location in need of a better economy.  I think it will go residential, however I hope its part of a larger project that includes relocation of the post office.
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Brad
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Post by Brad »

Garage door on the 10th Street Bridge was open yesterday:
Image
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Seth
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Post by Seth »

How do old buildings always end up with so much random junk piled inside?  Is there a natural law that hoarders gain access to them?
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Stargazer
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Post by Stargazer »

Is that a late 70's International Scout I see back there??  I loved those early sport utes.
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NovakOmaha
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Post by NovakOmaha »

Stargazer wrote:Is that a late 70's International Scout I see back there??  I loved those early sport utes.
I had a Scout in the mid 70's.  It was a tank but a lot of fun.  Not sure I'd call it a sport ute, as much as a very tough Jeep.
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Stargazer
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Post by Stargazer »

Eh... FJ-40... now that is a tough Jeep.

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iamjacobm
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Post by iamjacobm »

Unless I have been blind earlier this week there are new PJ Morgan For Sale signs on this building.  

http://www.loopnet.com/xNet/MainSite/Li ... mPPPP=true
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Brad
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Post by Brad »

Wow, 1.5 Million!

I would buy it if I hit the lottery!  Wayyyy to much wasted potential there!
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iamjacobm
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Post by iamjacobm »

Brad wrote:Honestly I wish the post office would build a new facility by the airport and then have a hole south downtown development district, this building can be the anchor.
That is a really cool idea.
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Brad
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Post by Brad »

Yesterday they put 6-8 dumpsters inside the building...

Anyone know anything?
ItsAllAboutMe
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Post by ItsAllAboutMe »

I can confirm an offer was made on this building.

Now this part fits in the Rumors section:
This building has been sold and will become condos.
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iamjacobm
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Post by iamjacobm »

ItsAllAboutMe wrote:I can confirm an offer was made on this building.

Now this part fits in the Rumors section:
This building has been sold and will become condos.
Oh that would be fantastic.
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Re:

Post by Garrett »

Well....

http://www.omaha.com/apps/pbcs.dll/arti ... -o.twitter
Cindy Gonzalez OWH wrote:A local developer is in the process of buying the historic and long-vacant Burlington Postal Annex just south of the Old Market at 950 S. 10th St.

Walt Peffer of P.J. Morgan Real Estate said his client does not want to be identified yet or to release too many details.

But Peffer said the hope is to create a mixed-use project in the 1927 triangle-shaped building that is listed in the National Register of Historic Places.
Pretty big thrust into the South Market. That area is going to be awesome in a few years if all of these new developments pan out.
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Seth
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Re: Burlington Postal Annex (across from station)

Post by Seth »

Another great project. It's good to see the momentum pushing out from the traditional Old Market area, as there is a lot of potential in the surrounding neighborhoods.
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Brad
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Re: Burlington Postal Annex (across from station)

Post by Brad »

Awesome News! I always hoped I would hit the lottery and buy it, but its going to be great to see it restored!
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