Which downtown condo project should I live in?

Bobcat · Post by **Bobcat** » Wed Dec 27, 2006 7:19 pm

I have been renting downtown for 6 months and am considering purchasing a condo. With so many choices it seems like great timing. I would like to open it up for the forum's input. The following are the projects I have researched:

1. Soma
2. Paxton
3. Riverfront
4. Beebe and Runyan
5. Kimball Lofts
6. Jlofts
7. Brandies
8. 1101 Jackson
9. Wall Street Tower

If you live in or have reserved a condo and are up for answering a few questions, send me a p.m. I'd love to hear some input from people that have gone through the process.

Post by **Brad** » Wed Dec 27, 2006 7:23 pm

After touring all of them, but not living downtown nor wanting to live downtown, I would pick 1101 Jackson, but that is some serious Money!

DTO Luv · Post by **DTO Luv** » Wed Dec 27, 2006 8:14 pm

I really, really liked Beebe & Runyan. They are supposed to be close to sold out. It has great views from the roof even if your unit doesn't. It's close to all of the big things to do DT like and is a very short walk away from everything.

My secondary recommendation would be Kimball. They had unique units that were a good mix of the old brick and wood with modern touches throughout.

One building I would also recommend highly is 902 Dodge. It's a blend of what I like about Beebe & Runyan and the Kimball lofts.

adam186 · Post by **adam186** » Wed Dec 27, 2006 8:28 pm

Hey bobcat,

Well, as you may already know, I am a "Condo Specialist" with NP Dodge. I'd be more than happy to help you out. I always love helping fellow forum members.

You can fill out this form I made and I will contact you soon with condos that match your requirements. I can show you those units as well. Happy hunting and hope to here from you soon.

http://www.omahaevolution.com/Condos/

Adam VanZee
Licensed in Nebraska
NP Dodge Real Estate
2424 Oak Street
Omaha, NE 68105

Cell: (402)660-1141
Office: (402)731-5008
Fax: (402)731-2089
Website: http://www.omahaevolution.com

Bobcat · Post by **Bobcat** » Wed Dec 27, 2006 9:45 pm

Thanks for the comments. I tried to submit the question as a poll, but obviously had no success. If the mods feel like changing it please feel free. I wanted to put a 15 day deadline on it. I will post my final decision by the end of January. Happy New Year everyone.

Coyote · Post by **Coyote** » Wed Dec 27, 2006 9:51 pm

It is now a poll.

redfield · Post by **redfield** » Thu Dec 28, 2006 12:38 pm

I vote for jLofts!!!!

....and yes, I am biased.

Stargazer · Post by **Stargazer** » Thu Dec 28, 2006 3:39 pm

I'm no expert, but personally I think the 16th Street condos (ie 1600 Franam and Regis) and anything close to Mutual's project hold the greatest promise for a return.

While Omaha's prices seem like a bargain compared to the rest of the country, we are still emerging from a downturn, and it doesn't seem to me that prices have retreated all that much. So I'd be very careful buying into downtown housing as a short term investment (unless it's just outside downtown in a freestanding home! where I think there are some fantastic bargains! ex: http://eomahaforums.com/phpBB/viewtopic.php?t=5725 Buy a block of homes and turn it into your own 'Towns') I think it's just a matter of time before this downtown craze spills over into the neighborhoods (beyond Little Italy. Look out 13th Street business district!).

Ben · Post by **Ben** » Thu Dec 28, 2006 4:02 pm

Bobcat, while we all have our individual preferences and opinions, its really all a matter of what you're looking for, in terms of style, price range, and availability date. Your list, while all condo projects, vary greatly in their offerings. You've got everything from new construction to redevelopments in there, high rises to townhomes to lofts to regular condos. Just have an agent show you around to all of them and see what strikes you as right (and when chosing agents, although Urban Omaha has the biggest presence around down here, I'd steer clear unless all you want is a pretty face).

That being said, I voted for Beebe & Runyan (where I live) for the following reasons:
character - old warehouse building, exposed wood beam ceilings
location - close to heartland of america park, biking/jogging trails, qwest center - none of the homeless found near 16th st
unit size/layout - I wanted a small 2 BR (1200-1300 sqft), and this was the only project that had them available. Very little wasted space (no hallways/stairs).
timeframe - Units were available when I wanted to move in - 6 mo ago (some of the projects you had listed won't be ready for several years)
construction quality- simply put, not all are created equal. Really look hard at what you're getting. I much preferred getting a base unit in a more expensive building than a unit optioned out to the max in a less expensive development, I think it shows when you look at build quality.

adam186 · Post by **adam186** » Thu Dec 28, 2006 5:43 pm

Ben wrote:Just have an agent show you around to all of them and see what strikes you as right (and when chosing agents, although Urban Omaha has the biggest presence around down here, I'd steer clear unless all you want is a pretty face).

They also represent the seller (developer) which they have fiduciary obligations to (meaning they want to get top dollar for the units). Great post by the way.

adam186 · Post by **adam186** » Tue Jan 02, 2007 11:03 pm

How's the search coming along? Have you found any you liked?

MTO · Post by **MTO** » Wed Jan 03, 2007 7:12 am

Brad, how did you tour the WST? And why didnt you get pictures from up there?

Post by **Brad** » Wed Jan 03, 2007 8:41 am

MTO wrote:Brad, how did you tour the WTO? And why didnt you get pictures from up there?

WTO???? don't know what you are talking about, whats WTO?

Here is every condo I have been in.

http://eomahaforums.com/phpBB/viewtopic.php?t=4618

Bobcat · Post by **Bobcat** » Wed Jan 03, 2007 12:56 pm

Adam186, the search is going well. Thanks for asking. My search is continuing and I still feel that it is quite the buyer's market in downtown Omaha. There is so much to choose from. Right now I am leaning toward two projects, either the Wall Street Tower or Beebe and Runyan, although Riverfront and SOMA (Lofts) are certainly in the mix. The Wall Street Tower would be fun because I would live so high off the ground and that perspective is unique. I still am having a hard time getting comfortable with the time-line and a recent tour of their Kansas City project didn't entice to me sign up.

Beebe's quality is impressive and location good too. The scene is much different there than around Brandies and Paxton. To sum everything up, the verdict is still out. I have a deadline of Jan. 24th for my decision, and I'll post it on this thread.

Thank you to everyone for voting on the poll.

DTO Luv · Post by **DTO Luv** » Wed Jan 03, 2007 5:06 pm

I like Riverfront Place (not that I've been in there or anything) but even with the view it's still a bit removed from all of the things I'd like to do DT.

adam186 · Post by **adam186** » Wed Jan 03, 2007 5:41 pm

Do you need to move in by the 24th or just make a decision?

Bobcat · Post by **Bobcat** » Wed Jan 03, 2007 6:08 pm

Adam186, the deadline is self imposed and I don't plan on moving in by then especially if I choose a project with completion that is a few years away. Personally I feel like it is a good time for me to commit. January seems like a bit of a slow month too for sales activity on the projects, before the spring buying season that is typical of most real estate (although condos may track differently).

DTO Luv, I agree with your sentiments on the location of the Riverfront condo complex. I recently walked to the Old Market from there and it took awhile. I have walked around a lot downtown and to get to the city / county building from Riverfront took me close to half an hour.

adam186 · Post by **adam186** » Wed Jan 03, 2007 6:45 pm

January seems like a bit of a slow month too for sales activity on the projects, before the spring buying season that is typical of most real estate (although condos may track differently).

You're pretty much right on the dot on that. This is one of our TrendGrafix report on condo sales I got back in Nov.

redfield · Post by **redfield** » Thu Jan 04, 2007 12:43 am

I recently walked to the Old Market from there and it took awhile.

It doesn't take long from 13th & Jackson!!!

I have walked around a lot downtown and to get to the city / county building from Riverfront took me close to half an hour.

Also not too long of a walk from 13th & Jackson, but a bit longer than the long trek across the street into the market...

Kidding aside, as the sales manager at jLofts, I'm curious what you like about the above mentioned projects more than ours?

redfield · Post by **redfield** » Thu Jan 04, 2007 12:54 am

Adam,

That graph is of the entire MLS, not just condos.

Unfortunately, Trendgraphix isn't very good for tracking the condo market because 1) it doesn't separate villas, townhomes, and duplexes from other condominiums, and 2) many of the condos on the market or recently sold are not in the MLS(ie. Riverfront Place, Soma, Wall Street Tower, most of 1101, most of Brandeis, etc...).

adam186 · Post by **adam186** » Thu Jan 04, 2007 12:59 am

^oops, posted the wrong one. I had bad internet connection at the office and was in a hurry let me put up the condo one in a little bit.

adam186 · Post by **adam186** » Thu Jan 04, 2007 1:15 am

redfield wrote:Adam,

That graph is of the entire MLS, not just condos.

Unfortunately, Trendgraphix isn't very good for tracking the condo market because 1) it doesn't separate villas, townhomes, and duplexes from other condominiums, and 2) many of the condos on the market or recently sold are not in the MLS(ie. Riverfront Place, Soma, Wall Street Tower, most of 1101, most of Brandeis, etc...).

You're absolutely correct Chris. Also, the units that are reserved are still listed as "For Sale". So hopefully this will help a little more.

Bobcat · Post by **Bobcat** » Thu Jan 04, 2007 10:16 am

Redfield, just responded to your question with a pm.

Adam186, thank you for the chart. That is really good information and extremely helpful.

Big E · Post by **Big E** » Thu Jan 04, 2007 11:22 am

Bobcat:

I sent you a PM about a SoMa unit for sale. B unit in phase one: http://www.rowsatsoma.com

Give me a ring if you're interested.

-Big E

DTO Luv · Post by **DTO Luv** » Thu Jan 04, 2007 5:15 pm

I don't think you've charmed him enough yet to where he'll give you a ring.

redfield · Post by **redfield** » Thu Jan 04, 2007 5:57 pm

Bobcat,

I replied to your PM, please let me know if you did not get it.

DTO,

Do not underestimate the power of Big E's charms.

Bobcat · Post by **Bobcat** » Thu Jan 04, 2007 7:56 pm

Big E, thanks for the pm. Hopefully you received the note I sent back to you this morning.

Redfield, really appreciate your response as well.

The poll response gets more interesting with time. Still no votes for Kimball.

Post by **Brad** » Thu Jan 04, 2007 9:50 pm

Bobcat wrote:The poll response gets more interesting with time. Still no votes for Kimball.

I really liked the Kimball, but I voted for 1101 Jackson because I loved the location and the "design your own floor plan"

adam186 · Post by **adam186** » Fri Jan 12, 2007 12:54 am

12 days and counting!!

Bobcat · Post by **Bobcat** » Fri Jan 12, 2007 12:19 pm

The countdown is certainly on ... everything seems to be falling in to place. The bank has given me the green light and most of the developers are willing to throw in a thing or two in to entice me to their project. I toured the Paxton recently and have to say that project has fallen toward the bottom of the list. The steakhouse is nice and I have eaten there twice with another reservation at the end of the month. To me that is no reason to live in the building, particularly when it will be a short walk or cab ride from any downtown residence. Regarding the condos, I just have the feeling that they are geared toward much older people and the quality was lacking. I can appreciate the restoration of the art deco, but the lobby and finishes are not to my taste. Plus there is a bit of a stigma in my head about the property because of it's use about 10 years ago ... it was a bit depressing. The fact that the developer has missed all of the dates that he announced didn't help persuade me either. I am happy to see this project getting closer to being done. I think that 100% completion won't be for some time.

Jlofts is in the mix. I appreciate the messages from Redfield and Adam 186, and I have been giving it renewed consideration.

The news about Brandies was disappointing, but I never was seriously considering that project. The announcement has made me investigate each project more thoroughly, particularly when it comes to the financial health of the developer. I would hate to be owning in a condo complex and hear such dreaded news.

Hopefully a few more people will vote in the poll. It's nice to get the opinions and feedback of other forum members.

brwnie01 · Post by **brwnie01** » Sat Jan 13, 2007 12:58 pm

I would like to cast my vote for the jLofts. However, I can't seem to figure out how to vote. Like credfield, I am also somewhat biased. However, over the last year I have repeatedly viewed all of the projects downtown with a variety of clients looking in every price range. I have heard feedback on everything and know very well the advantages and disadvantages of each that are perceived by other potential buyers.

Just so you know, I am an extremely conservative person when it comes to investing my hard earned money. I have backed my vote with a purchase of my own.

Post by **Brad** » Sat Jan 13, 2007 3:00 pm

brwnie01 wrote:I would like to cast my vote for the jLofts. However, I can't seem to figure out how to vote. Like credfield, I am also somewhat biased. However, over the last year I have repeatedly viewed all of the projects downtown with a variety of clients looking in every price range. I have heard feedback on everything and know very well the advantages and disadvantages of each that are perceived by other potential buyers.

Just so you know, I am an extremely conservative person when it comes to investing my hard earned money. I have backed my vote with a purchase of my own.

Did you already vote once.

brwnie01 · Post by **brwnie01** » Sat Jan 13, 2007 3:41 pm

No.

Where do I go to vote, the FAQ says "If you have registered and still cannot vote then you probably do not have appropriate access rights." Is this the reason or am I blind?

Post by **Admin** » Sat Jan 13, 2007 3:46 pm

I will check into this for you.

Post by **Admin** » Sat Jan 13, 2007 3:52 pm

brwnie01, I sent you a pm answering this question.

Alt(Bayern)München · Sun Jan 14, 2007 10:44 pm

It won't let me vote either???

Post by **Admin** » Mon Jan 15, 2007 7:05 pm

Alt(Bayern)München wrote:It won't let me vote either???

I just sent you a PM.

adam186 · Post by **adam186** » Thu Jan 25, 2007 4:00 pm

Bobcat, which project did you end up going with?

Bobcat · Post by **Bobcat** » Fri Jan 26, 2007 12:16 pm

About two weeks ago I narrowed my choices down to four projects: Riverfront, Jlofts, Beebe and Runyan and the Lofts at SOMA. Earlier this week I made the final decision to purchase at the Beebe and Runyan.

Features that set the project apart, for me, were the fitness center, views and the interior design. The individual condo features equally stood on their own … the space is nice and has marble countertops and backsplash, and a glass wall in the second bedroom!

I will close and start moving in at the end of March. Once I settle in I’ll be sure and post a few pictures in the photo section.

adam186 · Post by **adam186** » Fri Jan 26, 2007 1:38 pm

That's great, I hope closing is smooth for you. It's customary to throw a party and invite everyone on the forum to break it in.

The more pictures the better. And congrats to you.