Large investment at 10th and Harney-

[Omaha Cowboy]

The Cryptic Rumor Department, working overtime the past several days, has informed me of a significant potential development..

I have been told the surface parking lot on the NW corner of 10th and Harney St is about to have a purchase agreement signed for $5 million. No intel on the land use as of yet (so speculate away), but $5 Mill is a pretty significant land price for Omaha…

As always, stay tuned…

Ciao..LiO…Peace

[almighty_tuna]

Always great to hear a new rumor! It would be hard to screw up this corner more than just leaving it a surface lot***. Exciting stuff on the horizon (again!)


***NO, that is NOT a challenge to mock up a car wash and MegaSaver rendering for that corner!!

[Omaha Cowboy]

***NO, that is NOT a challenge to mock up a car wash and MegaSaver rendering for that corner!!

LOL. Or an e-cigarettes & vape bar …

Ciao..LiO…Peace

[Doctor Fate]

The Cryptic Rumor Department, working overtime the past several days, has informed me of a significant potential development..

I have been told the surface parking lot on the NW corner of 10th and Harney St is about to have a purchase agreement signed for $5 million. No intel on the land use as of yet (so speculate away), but $5 Mill is a pretty significant land price for Omaha…

As always, stay tuned…

Ciao..LiO…Peace

Could this be linked to the rumored 25 story residential tower? When the rumor was posted npdodger said the land purchase was in motion.

[NEDodger]

Aw, man! My surprise was ruined. I bought it in order to open up a Sugar Factory location there! You know, just to be a goof and give you all a laugh!

[Doctor Fate]

If I'm using the county assessor site correctly, the lot is currently under the mailing name of Won Z. Huang and the address is the office of Atrium Hospitality LP in Phoenix, whose portfolio includes the Embassy Suites further down 10th street. Huang is the VP of Tax for the Atrium Holding Company.

[skip]

If I'm using the county assessor site correctly, the lot is currently under the mailing name of Won Z. Huang and the address is the office of Atrium Hospitality LP in Phoenix, whose portfolio includes the Embassy Suites further down 10th street. Huang is the VP of Tax for the Atrium Holding Company.

So, it is safe to assume this will most likely be a hotel. Was hoping for residential rather than hospitality, but it's better than a surface parking lot, I guess.

[Doctor Fate]

If I'm using the county assessor site correctly, the lot is currently under the mailing name of Won Z. Huang and the address is the office of Atrium Hospitality LP in Phoenix, whose portfolio includes the Embassy Suites further down 10th street. Huang is the VP of Tax for the Atrium Holding Company.

So, it is safe to assume this will most likely be a hotel. Was hoping for residential rather than hospitality, but it's better than a surface parking lot, I guess.

Unless Atrium is the one selling, which I think is the case. It sounds like from Cowboy's post that the purchase agreement is still underway so whoever is listed on the county assessor (Atrium) is the current owner.

[Athomsfere]

If I'm using the county assessor site correctly, the lot is currently under the mailing name of Won Z. Huang and the address is the office of Atrium Hospitality LP in Phoenix, whose portfolio includes the Embassy Suites further down 10th street. Huang is the VP of Tax for the Atrium Holding Company.

So, it is safe to assume this will most likely be a hotel. Was hoping for residential rather than hospitality, but it's better than a surface parking lot, I guess.

Unless Atrium is the one selling, which I think is the case. It sounds like from Cowboy's post that the purchase agreement is still underway so whoever is listed on the county assessor (Atrium) is the current owner.

Exactly what I read too. So whoever to new owner is to be...

Maybe they have a grander design.

I suspect it's going to be a ~6 story brick something though, not a 25 story anything.

[Doctor Fate]

Exactly what I read too. So whoever to new owner is to be...

Maybe they have a grander design.

I suspect it's going to be a ~6 story brick something though, not a 25 story anything.

Does the $5 million price tag fit a mid-rise building like that? I honestly have no clue so asking sincerely.

[almighty_tuna]

The $5M is just for the lot, nothing else.

[Doctor Fate]

The $5M is just for the lot, nothing else.

Yes, but Cowboy said that was a high price for Omaha. So I'm asking if that is a common or likely thing, to pay a premium for the land to build a mid-rise?

[Athomsfere]

Exactly what I read too. So whoever to new owner is to be...

Maybe they have a grander design.

I suspect it's going to be a ~6 story brick something though, not a 25 story anything.

Does the $5 million price tag fit a mid-rise building like that? I honestly have no clue so asking sincerely.

Back of napkin math? 5 for the lot, $6+/- more for a 6 story building...

I'd say 100% doable, although likely not ideal.

[Brad]

If I'm using the county assessor site correctly, the lot is currently under the mailing name of Won Z. Huang and the address is the office of Atrium Hospitality LP in Phoenix, whose portfolio includes the Embassy Suites further down 10th street. Huang is the VP of Tax for the Atrium Holding Company.

When on the assessor page, you can see the recent purchase dates. The current owner has owed that lot since at least 2015, if not before, so they must be the seller.

[Garrett]

It’s a lot that’s going to have direct access to the streetcar, the new parks system, the Mercantile, and the Old Market. It’s probably the most valuable piece of parking lot in the city imo.

[skip]

If I'm using the county assessor site correctly, the lot is currently under the mailing name of Won Z. Huang and the address is the office of Atrium Hospitality LP in Phoenix, whose portfolio includes the Embassy Suites further down 10th street. Huang is the VP of Tax for the Atrium Holding Company.

So, it is safe to assume this will most likely be a hotel. Was hoping for residential rather than hospitality, but it's better than a surface parking lot, I guess.

Unless Atrium is the one selling, which I think is the case. It sounds like from Cowboy's post that the purchase agreement is still underway so whoever is listed on the county assessor (Atrium) is the current owner.

Exactly what I read too. So whoever to new owner is to be...

Maybe they have a grander design.

I suspect it's going to be a ~6 story brick something though, not a 25 story anything.

ahhhh makes sense! I missed the initial post stating the deal is about to happen and hasn't been finalized yet.

10-15 story residential with ground for retail would be niiiiiiiiceeeee. It is a half of a full city block, so this could create some great density on the edge of the Old Market. Right next to the streetcar and the Mercantile development

[Athomsfere]

If I'm using the county assessor site correctly, the lot is currently under the mailing name of Won Z. Huang and the address is the office of Atrium Hospitality LP in Phoenix, whose portfolio includes the Embassy Suites further down 10th street. Huang is the VP of Tax for the Atrium Holding Company.

So, it is safe to assume this will most likely be a hotel. Was hoping for residential rather than hospitality, but it's better than a surface parking lot, I guess.

Unless Atrium is the one selling, which I think is the case. It sounds like from Cowboy's post that the purchase agreement is still underway so whoever is listed on the county assessor (Atrium) is the current owner.

Exactly what I read too. So whoever to new owner is to be...

Maybe they have a grander design.

I suspect it's going to be a ~6 story brick something though, not a 25 story anything.

ahhhh makes sense! I missed the initial post stating the deal is about to happen and hasn't been finalized yet.

10-15 story residential with ground for retail would be niiiiiiiiceeeee. It is a half of a full city block, so this could create some great density on the edge of the Old Market. Right next to the streetcar and the Mercantile development

I fear if 10+ stories is the goal, we might see NIMBYism at San Francisco scales...

[skip]

Hyatt has to be close to 10 stories and it fits in well in the Old Market. NIMBYs will always be NIMBYs no matter what development plan is announced.

[Guest]

Exactly what I read too. So whoever to new owner is to be...

Maybe they have a grander design.

I suspect it's going to be a ~6 story brick something though, not a 25 story anything.

Does the $5 million price tag fit a mid-rise building like that? I honestly have no clue so asking sincerely.

Back of napkin math? 5 for the lot, $6+/- more for a 6 story building...

I'd say 100% doable, although likely not ideal.

6 million to build a generic 5 over 1? I don't know about that.

[Louie]

Exactly what I read too. So whoever to new owner is to be...

Maybe they have a grander design.

I suspect it's going to be a ~6 story brick something though, not a 25 story anything.

Does the $5 million price tag fit a mid-rise building like that? I honestly have no clue so asking sincerely.

Back of napkin math? 5 for the lot, $6+/- more for a 6 story building...

I'd say 100% doable, although likely not ideal.

6 million to build a generic 5 over 1? I don't know about that.

Yeah, idk about all that. But the lot itself could definitely be worth $5mm.

[Doctor Fate]

Exactly what I read too. So whoever to new owner is to be...

Maybe they have a grander design.

I suspect it's going to be a ~6 story brick something though, not a 25 story anything.

Does the $5 million price tag fit a mid-rise building like that? I honestly have no clue so asking sincerely.

Back of napkin math? 5 for the lot, $6+/- more for a 6 story building...

I'd say 100% doable, although likely not ideal.

6 million to build a generic 5 over 1? I don't know about that.

Yeah, idk about all that. But the lot itself could definitely be worth $5mm.

For sure, since the lot sold for $4 mil back in 2015.

[Omaha Cowboy]

The Cryptic Rumor Department, working overtime the past several days, has informed me of a significant potential development..

I have been told the surface parking lot on the NW corner of 10th and Harney St is about to have a purchase agreement signed for $5 million. No intel on the land use as of yet (so speculate away), but $5 Mill is a pretty significant land price for Omaha…

As always, stay tuned…

Ciao..LiO…Peace

Could this be linked to the rumored 25 story residential tower? When the rumor was posted npdodger said the land purchase was in motion.

Not sure, as I stated earlier, on the land use as of yet. But the location is PRIMO and $5mill just to purchase the land is a significant number..

Speculation on the Rumors Forum is half the fun …

Ciao..LiO…Peace

[StreetcarDevelopment]

10 story office building is my guess.

[nebport5]

It’s a lot that’s going to have direct access to the streetcar, the new parks system, the Mercantile, and the Old Market. It’s probably the most valuable piece of parking lot in the city imo.

Agreed. And to Cowboy's point about the 5 mil, who's to say it isn't more than an investment at this point? The streetcar is, of course, a few years out and likely more for a full Mercantile build out. The building that houses Michael's across the street is being offered at 4 mil and The National Building up the street is priced at 4.5 mil.

[Athomsfere]

Exactly what I read too. So whoever to new owner is to be...

Maybe they have a grander design.

I suspect it's going to be a ~6 story brick something though, not a 25 story anything.

Does the $5 million price tag fit a mid-rise building like that? I honestly have no clue so asking sincerely.

Back of napkin math? 5 for the lot, $6+/- more for a 6 story building...

I'd say 100% doable, although likely not ideal.

6 million to build a generic 5 over 1? I don't know about that.

I'll take that bet. 20 e-Omaha dollars?

[nativeomahan]

The Cryptic Rumor Department, working overtime the past several days, has informed me of a significant potential development..

I have been told the surface parking lot on the NW corner of 10th and Harney St is about to have a purchase agreement signed for $5 million. No intel on the land use as of yet (so speculate away), but $5 Mill is a pretty significant land price for Omaha…

As always, stay tuned…

Ciao..LiO…Peace

Years ago there was supposed to be a 19 story (if I recall correctly) combination Omni Hotel and apartment building constructed on the vacant portion of that square block. Obviously it never happened. It would be a perfect location for something like that.

[WhatItDo]

2 tenents 10 stories. Streetcar sealed the deal.

[almighty_tuna]

Solid infill if it pans out. Any word on the tenants or their industry?

[MadJack]

2 tenents 10 stories. Streetcar sealed the deal.

Wow, that would be very cool. How do you know the tenants? Are they office users?

[ita]

Ya'll, I thought we learned not to take candy from strangers.

[Athomsfere]

Ya'll, I thought we learned not to take candy from strangers.

Bwaaahaha

My thoughts exactly too.

[Garrett]

Ya'll, I thought we learned not to take candy from strangers.

But what if the candy is from Sugar Factory?

[WhatItDo]

Ya'll, I thought we learned not to take candy from strangers.

But what if these are 2 different kinds of candies in one wrapper?

[Doctor Fate]

10 story office building is my guess.

2 tenents 10 stories. Streetcar sealed the deal.

@BRoss are these both npdodger?

[Omaha Cowboy]

Friends-

I’ll come back to what I stated in an earlier post- in this Rumors Forum, most of the fun is speculating on what might be the end game..

There is a real source and a real potential plan to purchase this land for the $5 mill price tag. I think what most people are doing is spitballing ideas..as it relates to what they think will rise on the land…

Ciao..LiO…Peace

[Omaha Cowboy]

The Cryptic Rumor Department, working overtime the past several days, has informed me of a significant potential development..

I have been told the surface parking lot on the NW corner of 10th and Harney St is about to have a purchase agreement signed for $5 million. No intel on the land use as of yet (so speculate away), but $5 Mill is a pretty significant land price for Omaha…

As always, stay tuned…

Ciao..LiO…Peace

Years ago there was supposed to be a 19 story (if I recall correctly) combination Omni Hotel and apartment building constructed on the vacant portion of that square block. Obviously it never happened. It would be a perfect location for something like that.

Out of all the speculation, I think I like this one the best.. Would love to see it!…

Ciao..LiO…Peace

[Louie]

At the very least, I’m pleased with the velocity of these rumors lately. When there’s smoke, there’s fire.

[What ItDo]

There is going to be a crazy amount of investment down here that should be announced this year.

With the city taking so much heat on the Streetcar right now they need these projects that have been spurred by this to get announced.

I’ve even heard there is legitimate renewed interest in Lot B as well since the Streetcar will go right by it.

In 5 years downtown will be unrecognizable.

[ita]

There is going to be a crazy amount of investment down here that should be announced this year.

With the city taking so much heat on the Streetcar right now they need these projects that have been spurred by this to get announced.

I’ve even heard there is legitimate renewed interest in Lot B as well since the Streetcar will go right by it.

In 5 years downtown will be unrecognizable.

Not confirming any rumors, but I am confident we will see some projects enter the pipeline in a the next year or two. And I am hoping that developers clearly point out that the streetcar is either why they are developing a particular parcel or building at a higher density.

As for lot b, I would hope the city is prioritizing that spot for high density future development. It's the current eastern end of the streetcar route, will have direct access to the river front via baby bob, and has existing proximity to North Downtown, CHI and the chuck. It's a spot begging to be developed.

[BRoss]

@BRoss are these both npdodger?

I can't say that it isn't. But there's no obvious signs that it is.