The Beam - Nustyle Apartments (610 Douglas St)

[CBJason]

I really liked the building until I saw this rendering that was posted on the grow Omaha post about a different developer before the children’s museum was on board. I would take this is a heartbeat, reminds me of aqua in Chicago:

Now that The Beam and Children's Museum are dead can we get whoever proposed this back involved on this site.

Ahhh, I forgot all about this. Great idea! Somebody get them on the phone!

[Erik]

Well this escalated quickly lol

[thenewguy]

37 stories in that proposal. Looks great....but would never (and i do mean never) happen

[Erik]

Ill probably get wrecked for saying this..

We have to stop giving local businesses the project who have zero track record. This is why nothing gets built.

Let's start giving these lots to outside companies with a past of success.

[Garrett]

NuStyle has an extremely successful track record, including 750 apartments under construction right down the street via The Duo. The Children's Museum falling through clearly had impacts on their project plan here. I'm betting they're step away from this investment in order to move their liquidity on to the next project in their line, like the renovation of the original First National Center, or something on one of the empty lots they own elsewhere.

[skinzfan23]

Yes, Nustyle prob has the best track record in Omaha. The only thing different on this project would’ve been. It was a new build instead of a rehab like most of their other projects. Otherwise, they are fantastic.

[Erik]

Sorry, what I meant was that they don't have a track record for speculative new builds on high-density properties.

NuStyle does good work, but these issues are predictable if we hand over such important sites based on hope rather than experience.

[OutoftheCanyon]

Don’t count this out yet. Still think it will happen.

[thenewguy]

Don’t count this out yet. Still think it will happen.

sincere question: are you involved in some way? Is there information that can be shared?

[Brad]

I still think its a viable project. After all it was the Children's museum that backed out. Why should that stop NuStyle from moving forward.

[BRoss]

I don't have any direct insight into this project, but from what I've heard, it sounds like the Beam portion could still move forward. Children's Museum backing out has certainly caused them to re-evaluate things, which makes sense. And with how much they've spent on site prep, it also makes sense to recoup that to spend on other shovel-ready projects in the mean time.

But Nustyle has a great track record and I wouldn't take things outside their control to mean they can't accomplish something here. And it wouldn't surprise me to see Children's Museum come back to the table in the next few years once they sort out their issues. Although even without them, this could still happen to a lesser extent.

It may be delayed for a few years, but don't count it out that this won't happen.

[OutoftheCanyon]

This still has a lot of life to it. I fully expect it to happen. It it was a different developer I wouldn’t be confident but with them I am. I expect a redesign.