Doctor Fate wrote: Fri Jul 29, 2022 9:00 am
I heard from someone who talked to the developer in the past few weeks that condos may not be in the picture and that they are high on apartments. I guess we will see if there is an announcement in the next few weeks like npdodger12 has said.
Npdodger12 wrote: Wed Aug 10, 2022 12:17 pm
Update: project delayed 180-360days. Project is being re-worked. Due to market conditions, phase 1 will grow significantly. 1 retail/3 office/20+ apts. Future phases grow with additional 10+ apts/2 retail/4+ office/100+ hotel rooms.
This is what I had heard too, the developer was high on apartments.
Npdodger12 wrote: Wed Aug 10, 2022 12:17 pm
Update: project delayed 180-360days. Project is being re-worked. Due to market conditions, phase 1 will grow significantly. 1 retail/3 office/20+ apts. Future phases grow with additional 10+ apts/2 retail/4+ office/100+ hotel rooms.
Are you referring to floors? Like one building will have 1 floor retail, 3 office, 20+ apartments, so a 25 or so floor tower?
Npdodger12 wrote: Wed Aug 10, 2022 12:17 pm
Update: project delayed 180-360days. Project is being re-worked. Due to market conditions, phase 1 will grow significantly. 1 retail/3 office/20+ apts. Future phases grow with additional 10+ apts/2 retail/4+ office/100+ hotel rooms.
That's a mixed bag, but positives outweigh the negatives if it comes to fruition.
Npdodger12 wrote: Wed Aug 10, 2022 12:17 pm
Update: project delayed 180-360days. Project is being re-worked. Due to market conditions, phase 1 will grow significantly. 1 retail/3 office/20+ apts. Future phases grow with additional 10+ apts/2 retail/4+ office/100+ hotel rooms.
Are you referring to floors? Like one building will have 1 floor retail, 3 office, 20+ apartments, so a 25 or so floor tower?
Npdodger12 wrote: Wed Aug 10, 2022 12:17 pm
Update: project delayed 180-360days. Project is being re-worked. Due to market conditions, phase 1 will grow significantly. 1 retail/3 office/20+ apts. Future phases grow with additional 10+ apts/2 retail/4+ office/100+ hotel rooms.
Are you referring to floors? Like one building will have 1 floor retail, 3 office, 20+ apartments, so a 25 or so floor tower?
Yes. 24 min.
I'm skeptically excited...
Also, it's a friday so next week is the expectation?
Npdodger12 wrote: Wed Aug 10, 2022 12:17 pm
Update: project delayed 180-360days. Project is being re-worked. Due to market conditions, phase 1 will grow significantly. 1 retail/3 office/20+ apts. Future phases grow with additional 10+ apts/2 retail/4+ office/100+ hotel rooms.
Are you referring to floors? Like one building will have 1 floor retail, 3 office, 20+ apartments, so a 25 or so floor tower?
Yes. 24 min.
I'm skeptically excited...
Also, it's a friday so next week is the expectation?
Today is Thursday lol and I was told yesterday that we would have more info this week. I was told the article has already been written and is waiting to be ran.
Npdodger12 wrote: Wed Aug 10, 2022 12:17 pm
Update: project delayed 180-360days. Project is being re-worked. Due to market conditions, phase 1 will grow significantly. 1 retail/3 office/20+ apts. Future phases grow with additional 10+ apts/2 retail/4+ office/100+ hotel rooms.
Are you referring to floors? Like one building will have 1 floor retail, 3 office, 20+ apartments, so a 25 or so floor tower?
Yes. 24 min.
I'm skeptically excited...
Also, it's a friday so next week is the expectation?
Today is Thursday lol and I was told yesterday that we would have more info this week. I was told the article has already been written and is waiting to be ran.
Yes! You are right. It feels like a friday at least!
Any idea who is getting the article first? WH I assume, and not the Nebraska Examiner?
Npdodger12 wrote: Wed Aug 10, 2022 12:17 pm
Update: project delayed 180-360days. Project is being re-worked. Due to market conditions, phase 1 will grow significantly. 1 retail/3 office/20+ apts. Future phases grow with additional 10+ apts/2 retail/4+ office/100+ hotel rooms.
Are you referring to floors? Like one building will have 1 floor retail, 3 office, 20+ apartments, so a 25 or so floor tower?
Yes. 24 min.
I'm skeptically excited...
Also, it's a friday so next week is the expectation?
Today is Thursday lol and I was told yesterday that we would have more info this week. I was told the article has already been written and is waiting to be ran.
Yes! You are right. It feels like a friday at least!
Any idea who is getting the article first? WH I assume, and not the Nebraska Examiner?
LOL I wish it was Friday.
I was referring to the Nebraska Examiner but maybe the WH will have it too.
I would like to think that this article from Cindy at the Nebraska Examiner is not the one I was told about, but there is a very small bit about this potential development at the end.
Soderwall said details and timeline for the remainder of the Mercantile redevelopment (after the Brickline and T3 buildings) are flexible and will depend on market demand.
However, he anticipates that a hotel might be among the next buildings and could sprout on the southeast corner of 10th and Harney Streets.
The master plan contemplates a residential tower on the west side of the lake, but Soderwall said those dwellings most likely would be apartments rather than for-sale condos.
“The more attractive investment type has been apartments,” Soderwall said. “As you look at metros across the U.S., it’s what people want.”
Doctor Fate wrote: Wed Aug 24, 2022 9:19 am
I would like to think that this article from Cindy at the Nebraska Examiner is not the one I was told about, but there is a very small bit about this potential development at the end.
Soderwall said details and timeline for the remainder of the Mercantile redevelopment (after the Brickline and T3 buildings) are flexible and will depend on market demand.
However, he anticipates that a hotel might be among the next buildings and could sprout on the southeast corner of 10th and Harney Streets.
The master plan contemplates a residential tower on the west side of the lake, but Soderwall said those dwellings most likely would be apartments rather than for-sale condos.
“The more attractive investment type has been apartments,” Soderwall said. “As you look at metros across the U.S., it’s what people want.”
Was told that this was the article I was told about. Cindy reworked the article to mainly update about the Mercantile and its timeline since there wasn't much to concrete info from Hines to report on the condo/apartment tower.
Doctor Fate wrote: Wed Aug 24, 2022 9:19 am
I would like to think that this article from Cindy at the Nebraska Examiner is not the one I was told about, but there is a very small bit about this potential development at the end.
Soderwall said details and timeline for the remainder of the Mercantile redevelopment (after the Brickline and T3 buildings) are flexible and will depend on market demand.
However, he anticipates that a hotel might be among the next buildings and could sprout on the southeast corner of 10th and Harney Streets.
The master plan contemplates a residential tower on the west side of the lake, but Soderwall said those dwellings most likely would be apartments rather than for-sale condos.
“The more attractive investment type has been apartments,” Soderwall said. “As you look at metros across the U.S., it’s what people want.”
Was told that this was the article I was told about. Cindy reworked the article to mainly update about the Mercantile and its timeline since there wasn't much to concrete info from Hines to report on the condo/apartment tower.
This quote from the article-
“The master plan contemplates a residential tower on the west side of the lake, but Soderwall said those dwellings most likely would be apartments rather than for-sale condos.”..
Leads me to believe this development is more a wait and see. Hopefully it is something that develops beyond conceptual within the next 4-5 years…
Doctor Fate wrote: Wed Aug 24, 2022 9:19 am
I would like to think that this article from Cindy at the Nebraska Examiner is not the one I was told about, but there is a very small bit about this potential development at the end.
Soderwall said details and timeline for the remainder of the Mercantile redevelopment (after the Brickline and T3 buildings) are flexible and will depend on market demand.
However, he anticipates that a hotel might be among the next buildings and could sprout on the southeast corner of 10th and Harney Streets.
The master plan contemplates a residential tower on the west side of the lake, but Soderwall said those dwellings most likely would be apartments rather than for-sale condos.
“The more attractive investment type has been apartments,” Soderwall said. “As you look at metros across the U.S., it’s what people want.”
Was told that this was the article I was told about. Cindy reworked the article to mainly update about the Mercantile and its timeline since there wasn't much to concrete info from Hines to report on the condo/apartment tower.
This quote from the article-
“The master plan contemplates a residential tower on the west side of the lake, but Soderwall said those dwellings most likely would be apartments rather than for-sale condos.”..
Leads me to believe this development is more a wait and see. Hopefully it is something that develops beyond conceptual within the next 4-5 years…
Doctor Fate wrote: Wed Aug 24, 2022 9:19 am
I would like to think that this article from Cindy at the Nebraska Examiner is not the one I was told about, but there is a very small bit about this potential development at the end.
Soderwall said details and timeline for the remainder of the Mercantile redevelopment (after the Brickline and T3 buildings) are flexible and will depend on market demand.
However, he anticipates that a hotel might be among the next buildings and could sprout on the southeast corner of 10th and Harney Streets.
The master plan contemplates a residential tower on the west side of the lake, but Soderwall said those dwellings most likely would be apartments rather than for-sale condos.
“The more attractive investment type has been apartments,” Soderwall said. “As you look at metros across the U.S., it’s what people want.”
Was told that this was the article I was told about. Cindy reworked the article to mainly update about the Mercantile and its timeline since there wasn't much to concrete info from Hines to report on the condo/apartment tower.
This quote from the article-
“The master plan contemplates a residential tower on the west side of the lake, but Soderwall said those dwellings most likely would be apartments rather than for-sale condos.”..
Leads me to believe this development is more a wait and see. Hopefully it is something that develops beyond conceptual within the next 4-5 years…
Npdodger12 wrote: Sun Nov 27, 2022 8:15 am
Announcement is likely to come before the end of the year. Billion+ investment.
Very interesting and thanks for sharing this intel with us! Two questions: 1. How many buildings would comprise that billion dollar investment; and 2. How confident are you in the info source?
Npdodger12 wrote: Sun Nov 27, 2022 8:15 am
Announcement is likely to come before the end of the year. Billion+ investment.
Very interesting and thanks for sharing this intel with us! Two questions: 1. How many buildings would comprise that billion dollar investment; and 2. How confident are you in the info source?
Can't wait to see how this all all plays out...
Additionally, is this a $1 billion in addition to the already built brick line building? Wasn't the original projected investment estimate $500 million? With inflation and interest rates, are they going to be able to deviate much than what was originally envisioned?
Three buildings, connected. Very reliable source. Billion+ does NOT include brick line. Construction no longer in phases. Completion estimate spring of 25.
Npdodger12 wrote: Sun Nov 27, 2022 3:54 pm
Three buildings, connected. Very reliable source. Billion+ does NOT include brick line. Construction no longer in phases. Completion estimate spring of 25.
Bob from Omaha wrote: Sun Nov 27, 2022 5:33 pm
Let me be the first to give this the side eye.
$1B,
3 buildings.
A 2.5 ish year construction timetable.
Uh.....I don't know about that.
Of course I could be wrong and if so hand the plate of crow over please. However, I just can't square the details given with similar projects.
I am skeptical too.
The original investment for the Mercantile was $500 million, including the Brickline. And there were going to be like 7 or so buildings over the 4 phases. This is going to be $1+ billion (excluding the Brickline) and only 3 connected buildings with no phases?
Here's one of the causes of my suspicion. Here in Detroit Dan Gilbert is building a skyscraper, 685 or so feet tall, 1.5 million square feet, $1.45B. I know it costs more to build one supertall tower but let's do some math.
Three buildings connected. Billion+. Let's say they aren't as tall as the one in Detroit, maybe 35 stories each. Ok, take out $100M for the connector. Why not? Three $300M buildings? All of this built in a huge hurry, a little over 2 years? Clad in gold?
I'm just saying. And for what it's worth, office/retail/residential/hotel/h e l l, why not, Jimmy Johns? Who on earth is going to occupy all this space? Conagra coming back? Fiserv? Enron???
I hope my suspicions are all wet. But still. There are other parcels around downtown that would cost a lot less.
Npdodger12 wrote: Sun Nov 27, 2022 3:54 pm
Three buildings, connected. Very reliable source. Billion+ does NOT include brick line. Construction no longer in phases. Completion estimate spring of 25.
That would be an amazing project for a city of our size. Would Hines still be the developer for these three buildings? Also, what architecture firm is doing the design?
In updating the plan, Soderwall told the Nebraska Examiner that the next building after the Brickline likely will be an office structure made largely of modern mass timber, a new-to-Omaha construction product. (Noddle Cos. also proposes to build a timber office and retail structure in north downtown and said if that rises according to plan yet this year, it would be the city’s first timber commercial structure in modern times.)
Hines is seeking an anchor tenant before starting its T3 building (which stands for timber, technology and talent) that likely would rise six or seven levels and span up to 250,000 square feet, Soderwall said.
The office property likely would be east of the Brickline and Eighth Street, between Farnam and Harney Streets. Hines has built similar T3 buildings in other cities.
I'm fairly certain we talked about it on Grow Omaha too.
Then the Condo Tower and other buildings that have also been mentioned.
Npdodger12 wrote: Mon Nov 28, 2022 3:28 am
Office space expanded A LOT and already leased. Insurance Co and medical. W and number of condos expanded and apartments units + 25%..
You said a 24 floor minimum previously, is that still the case?
Anyway, NPdodger's comment about expanded office makes sense. The rendering provided in the MBJ is a couple more stories than the previous T3 rendering. Anyway, I am holding out some hope there is some truth to this rumor. It seems like an odd time to move forward with a project as described in Omaha at this time with inflated everything and still high interest rates. Local outlook, from what I have heard from real estate and development folks, is wait and see for the next year or two. But Hines is a developer on another level, so who knows.
ita wrote: Mon Nov 28, 2022 9:04 am
Thinking about it more, AIA did award the Mercantile project for an innovative (for Omaha) office design. I posted about it last week on this thread: https://eomahaforums.com/viewtopic.php? ... &start=560
Anyway, NPdodger's comment about expanded office makes sense. The rendering provided in the MBJ is a couple more stories than the previous T3 rendering. Anyway, I am holding out some hope there is some truth to this rumor. It seems like an odd time to move forward with a project as described in Omaha at this time with inflated everything and still high interest rates. Local outlook, from what I have heard from real estate and development folks, is wait and see for the next year or two. But Hines is a developer on another level, so who knows.
Thanks for the link. This is what I was referring to in my post above.
CONAGRA-01.jpg
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