jLofts (13th & Jackson)

adam186 · Post by **adam186** » Thu Apr 20, 2006 10:53 pm

Here's a better picture of what will be replaced:

And the story on OWH "Theatrical set design firm building plant near Eppley":
http://www.omaha.com/index.php?u_pg=46&u_sid=2154772

Uffda · Post by **Uffda** » Fri Apr 21, 2006 12:06 am

It makes me wonder what all these people do who can afford 200,000+ condos downtown or in west O! I know it isn't within my reach.

Swift · Post by **Swift** » Fri Apr 21, 2006 12:40 am

It's called a mortgage.

redfield · Post by **redfield** » Fri Apr 21, 2006 1:08 am

Sorry Big-E, there's no chance the old facade will be saved. However, the bottom two floors (retail and parking) will be brick to tie the building in with the existing buildings around it. A great deal of attention went into the design to preserve the pedestrian scale. We are also attempting to get the city to make Jackson street 2 lanes up to 14th instead of 13th with diagonal parking to increase the available parking, to make the area even more pedestrian friendly, and also to create a natural extension of the old market.

Not much detail here, but we have an initial web-site up while the real one is under construction... http://www.jlofts.com

You can also call 658-LOFT for more info. Our showroom will be in the old witherspoon building at 12th & Jackson, and will include a full model unit and interior design center. It is slated to open in late may but we will begin giving private tours prior to then for people who register on the web-site or otherwise contact us. I would absolutely love to have an eomaha party there as soon as it is completed too.

I cannot even begin to tell you guys how hard it has been not to spill the beans on this project, but we were under strict orders not to leak anything until today.

Uffda · Post by **Uffda** » Fri Apr 21, 2006 1:17 am

It's called a mortgage.

ah swift -- i have been employed in my current occupation for the last 27 years (damn that is a long time). In that time, I have owned 4 different house -- so 4 different mortgages. My salary would not allow me to buy something anywhere near 200,000 --- the house I bought here for approx 120,000 was at the upper edge of my budget.

Not to start talking about people's finances but I have a feeling in the next couple of years there are going to be a lot of houses heading back toward the banks that allowed people to overextend themselves.

So then back to my original questions --- what do all these people do? Or are they going to be the people the 'young crowd' is fearing will move downtown -- the retiring BABY BOOMERS.

TitosBuritoBarn · Post by **TitosBuritoBarn** » Fri Apr 21, 2006 1:20 am

adam186 wrote:Here's a better picture of what will be replaced:

And the story on OWH "Theatrical set design firm building plant near Eppley":
http://www.omaha.com/index.php?u_pg=46&u_sid=2154772

Hmmm....there's a little charm to that building, but I say we go with the lofts.

redfield · Post by **redfield** » Fri Apr 21, 2006 1:23 am

So then back to my original questions --- what do all these people do? Or are they going to be the people the 'young crowd' is fearing will move downtown -- the retiring BABY BOOMERS.

Sorry to say it, but it is the baby boom generation that created the suburbs, and it's the same generation creating the national trend back towards urban areas as their kids move out and they decide they don't need a yard and 4 bedrooms anymore.

Its also, but not limited to, young professionals, empty nest couples of all ages, and divorcees.

Uffda · Post by **Uffda** » Fri Apr 21, 2006 1:32 am

and divorcees

damn i didnt know i was suppose to be wealthier after i got divorced.

adam186 · Post by **adam186** » Fri Apr 21, 2006 1:42 am

^Haha.

As redfield mentioned, I like how this will create a natural extension of the Old Market. I've noticed a trend with all the new devlopments lately and that's retail in the first floors which awesome. I love how it will have that old charm of the market and the modern steel(and other stuff) feel for the rest. One more thing, 10 to 13 feet ceilings are huge. Residential floors are usually about 8 ft, correct?

adam186 · Post by **adam186** » Fri Apr 21, 2006 1:49 am

Here's a larger rendering:

The base looks very wide and long, I wonder if it will have a courtyard down the middle or somthing.

StreetsOfOmaha · Post by **StreetsOfOmaha** » Fri Apr 21, 2006 2:15 am

This is FANTASTIC!

Was this on anybody here's radar?

I love the ground level retail and how it comes right up to Jackson St. I wonder why they didn't bring it right up to 13th Street as well.

Oh well. I say turn that little leftover chunk into a nice little urban park!

Minneapolis Boy · Post by **Minneapolis Boy** » Fri Apr 21, 2006 2:26 am

It looks like it will also abut Howard Street. If so, will that also be ground level retail? Jackson and Howard Streets would be great extensions of Old Market retail.

eomaha · Post by **eomaha** » Fri Apr 21, 2006 4:27 am

What a great project. All the warehouse conversions are nice, but once in a while it's nice to see new construction like this.

Is it possible that there is another owner of the property along 13th Street? It's a parking lot today. Maybe they're not giving it up.

midtown charlie · Post by **midtown charlie** » Fri Apr 21, 2006 4:29 am

3 things come to mind.....but streets beat to me to one of them.

1) Sad that we are tearing buildings down when the rendering shows a perfectly good parking lot across the street. And that parking lot is only 40-50 years old.

I realize there may be reasons but sad nontheless.

2) What is the city going to do with 13th street. As great as this project is and others after this...13th street is a natural barrier to stop the old market from spreading. Is there any chance of slimming 13th down a bit???

adam186 · Post by **adam186** » Fri Apr 21, 2006 4:33 am

^This kind relates to what you are saying Charlie. This was posted by redfield earlier:

We are also attempting to get the city to make Jackson street 2 lanes up to 14th instead of 13th with diagonal parking to increase the available parking, to make the area even more pedestrian friendly, and also to create a natural extension of the old market.

DTO Luv · Post by **DTO Luv** » Fri Apr 21, 2006 4:36 am

Me and Jake were down there tonight getting pics of the place. One thing I noticed is that this project will really help the bridge the gaps between 16th St. (where most of the people DT live) and the OM (where most people go DT.) I think we'll start to see this area be where retail takes off. In between two major districts. There are already too many residential buildings and projects around there to name.

midtown charlie · Post by **midtown charlie** » Fri Apr 21, 2006 4:46 am

adam that got me to thinking about 13th street. Not all of us are risk takers like...say...DTO. As one example. Cars scream down that street. I am not sure that 13th street needs to be that wide. A narrower 13th should slow the cars down and make the street seem less imposing to the pedestrians....thus allowing for a natural extension to the old market in the one direction that it can go without losing it's identity.

eomaha · Post by **eomaha** » Fri Apr 21, 2006 4:50 am

I am confident that 13th Street will be altered with time to make it more pedestrian friendly.

redfield · Post by **redfield** » Fri Apr 21, 2006 6:02 am

The base looks very wide and long, I wonder if it will have a courtyard down the middle or somthing.

Nope

It looks like it will also abut Howard Street.

Nope

Is it possible that there is another owner of the property along 13th Street? It's a parking lot today. Maybe they're not giving it up.

Yep

Sad that we are tearing buildings down when the rendering shows a perfectly good parking lot across the street.

Thats gated parking for macaroni apartments, its where most of their tenants park. It's unlikely any developers will get a chance to develop it soon, but it would be nice.

StreetsOfOmaha · Post by **StreetsOfOmaha** » Fri Apr 21, 2006 6:45 am

Actually, redfield, it would be nice if the owners of the Macaroni Apts. had the vision to build a substantial parking structure for their tenents and others downtown, with retail on the ground level, and finance parking for their tenents elsewhere downtown in the interum.

Post by **Omaha Cowboy** » Fri Apr 21, 2006 10:22 am

Nice project addition..

Adding to the DT Omaha condo BOOM..

..Ciao..LiO....Peace

the1wags · Post by **the1wags** » Fri Apr 21, 2006 1:47 pm

WOOT! Good news there, nice addition to DT. As mentioned, this will help tie in the Market to the west, with the buildings going over to and including the Kimball laundry building. You guys are right about 13th St, its going to need some work (narrowing, planters at corners, etc) to make it more ped friendly. Now we just need a big new apartment tower.

redfield · Post by **redfield** » Fri Apr 21, 2006 2:39 pm

it would be nice if the owners of the Macaroni Apts. had the vision to build a substantial parking structure for their tenents and others downtown, with retail on the ground level, and finance parking for their tenents elsewhere downtown in the interum.

I don't know if that would be financially viable, but it certainly would be better than a surface lot using up the land if they did.

Blazepaw · Post by **Blazepaw** » Fri Apr 21, 2006 3:26 pm

With this project and all the others, does anyone know what the downtown residential population is predicted to reach?

Post by **Omaha Cowboy** » Fri Apr 21, 2006 4:32 pm

Blazepaw wrote:With this project and all the others, does anyone know what the downtown residential population is predicted to reach?

My estimate is 8000 on the lower end..Possibly up the 10,000 by the 2010 census..

I'll split the difference and say 9000 by 2010..It's currently sitting close to 6000 now..

..Ciao..LiO....Peace

MTO · Post by **MTO** » Fri Apr 21, 2006 4:56 pm

all even as we lack a dt grocer

Big E · Post by **Big E** » Fri Apr 21, 2006 5:20 pm

Who needs a grocery store? When we get this smoking ban passed (:)), I can go to a different restaurant every night for 3 months.

-Big E

DTO Luv · Post by **DTO Luv** » Fri Apr 21, 2006 6:44 pm

Just to let you all know how are DT population is doing...

Cinncinnati just had a huge story in their paper on how there DT population JUST GOT to 6,000 people this year. This is a metro of over 2,000,000 with the NFL and MLB DT? They way they were going on about it it might as well have been 100,000 people down there. I think ours was closer to 7,000. Also Tulsa's DT pop. is only at 2,000. Omaha's not doing bad at all.

Since I have time today I might do a thread of all the residential buildings DT. We already have many residential buildings DT and the new ones filling in the gaps between will make for a lively, solid DT.

Hawkeye · Post by **Hawkeye** » Sat Apr 22, 2006 11:56 pm

Sometimes living in a place like the Twin Cities, it takes people talking about $200,000 being completely outside their reach to make you realize how affordable a place like the Omaha metro area really is.

And Uffda, this is in NO way a slam on you at all. It's just the realities of residential real estate in different markets. The MEDIAN home price in the Twin Cities metro is somewhere north of $250,000 and growing at around 6%. The median price in Omaha is less than $140,000 and growing at less than 3%.

So in at least this one respect, you might want to count your blessings.

StreetsOfOmaha · Post by **StreetsOfOmaha** » Sun Apr 23, 2006 12:11 am

Hawkeye wrote:Sometimes living in a place like the Twin Cities, it takes people talking about $200,000 being completely outside their reach to make you realize how affordable a place like the Omaha metro area really is.

And Uffda, this is in NO way a slam on you at all. It's just the realities of residential real estate in different markets. The MEDIAN home price in the Twin Cities metro is somewhere north of $250,000 and growing at around 6%. The median price in Omaha is less than $140,000 and growing at less than 3%.

So in at least this one respect, you might want to count your blessings.

I wonder how the median incomes compare.

Harpoon · Post by **Harpoon** » Sun Apr 23, 2006 1:34 am

Hawkeye wrote:Sometimes living in a place like the Twin Cities, it takes people talking about $200,000 being completely outside their reach to make you realize how affordable a place like the Omaha metro area really is.

And Uffda, this is in NO way a slam on you at all. It's just the realities of residential real estate in different markets. The MEDIAN home price in the Twin Cities metro is somewhere north of $250,000 and growing at around 6%. The median price in Omaha is less than $140,000 and growing at less than 3%.

So in at least this one respect, you might want to count your blessings.

Minneapolis doesn't have the extremely high property taxes like we have here, so it is actually kind of a wash with Omaha's prices. You pay less for a house here, but then they get you with the taxes.

Uffda · Post by **Uffda** » Sun Apr 23, 2006 5:52 am

And Uffda, this is in NO way a slam on you at all.

No offense taken. Actually my last house was in Casper WY. I sold it in the fall of 2000 for $98000 (property taxes somewher around $500). I went back for a visit about 2 years ago and the same house was on sale for $166,000 (property taxes were probably still less than $800). The house I have here is close to the same sq ft and probably would go on the market here for 130,000 (property tax approx $2800), so it is not always comparing large metro to large metro.

PS even on my teacher's salary in casper, which would be 8000 more than what i making here, i would have a hard time buying the old house at 166000. ;(

MTO · Post by **MTO** » Sun Apr 23, 2006 6:23 am

Big E wrote:Who needs a grocery store? When we get this smoking ban passed (:)), I can go to a different restaurant every night for 3 months.

-Big E

but not all of us can afford to do that big shot

Big E · Post by **Big E** » Sun Apr 23, 2006 3:35 pm

Heh, I can't afford it either (unless it's BK, maybe). I was exaggerating for effect... it's a literary device.

-Big Shot

MTO · Post by **MTO** » Sun Apr 23, 2006 3:43 pm

well you sure have a plethora of fast food to choose from in DT

Hawkeye · Post by **Hawkeye** » Wed Apr 26, 2006 8:56 pm

To be fair and accurate, the taxation in Nebraska v. Minnesota; or Omaha v. Minneapolis is pretty nearly dead even.

City Rankings of tax burden based on family of four, household income of $75,000/year
http://money.cnn.com/pf/features/lists/ ... index.html

State and Local Taxes as a percent of per capita income
http://money.cnn.com/pf/features/lists/ ... index.html

And median household income is pretty close as well.
(Latest stats I could find were 2003 for median household income)

State of Minnesota - $50,750
State of Nebraska - $41,984

13 County MSP MSA = $61,160
8-county Omaha MSA = $47,187

Overall tax burden (whether taken by state or by city) is within fractions of a percentage point difference. And while median incomes in the Twin Cities metro area are indeed approx. 30% higher than in Omaha/CB, the median home prices are a whopping 81% higher here. That definitely tends to eat up the additional income pretty damn quickly.

And OF COURSE Ol' Hawkeye realizes all of this is based on averages and general data, which does not account for anomalies and exceptions. And yes, it is still possible to find a house in the TCs for less than $200,000, though you have to look pretty hard or be willing to make fairly MASSIVE concessions to commute distance or general quality of neighborhood/home.

That having been said, by and large this analysis does offer a pretty solid argument for Omaha being one of the nation's real bang-for-the-buck leaders.

DTO Luv · Post by **DTO Luv** » Thu Apr 27, 2006 9:47 pm

I can't get on the OWH from work. When is this supposed to be completed?

adam186 · Post by **adam186** » Thu Apr 27, 2006 9:54 pm

Demolition will begin this summer and construction will start in late summer or early fall, with completion in 2007.

adam186 · Post by **adam186** » Thu May 25, 2006 11:39 pm

Oh man, I'm so excited about this project. They should sell very fast. They already have 20% of they units reserved and the sales center isn't even open yet.

Big E · Post by **Big E** » Fri May 26, 2006 12:09 am

Which units seem to be the most preferred? Small/large, higher/lower, 1br/2br?

-Big E