The Ledger (1620 Dodge Street) former FNBO tower

[jomaha9]

Hi everyone. I have a rumor to share regarding the First National Center building (the old highrise, not the tall tower). I spoke to a key decision maker within the organization and they shared that the plan is for this building to be converted to a residential tower. TBD on the plan for the ground floors (the building has two as it fronts Dodge St and 17th Street at different elevations). Most of the FNBO employees moved to the tower and the building is mostly empty.

This rumor might take some time to come to fruition. The main barrier is that the US District Attorney's office renewed their lease during covid and they need to move them before the building is renovated. I am also not sure if there is a plan for a developer to buy the building.

[skinzfan23]

Wow, another mid-rise residential conversion. That would be great, but as for the chances of a high or mid-rise new residential tower getting built that sucks.

[Garrett]

Quite an interesting rumor! It would definitely be a nice shot in the arm for a stronger residential presence on the northern side of Downtown

[CBJason]

Wow, another mid-rise residential conversion. That would be great, but as for the chances of a high or mid-rise new residential tower getting built that sucks.

Yeah, this is worries me as well. However, if all these announced and rumored conversions are apartments, maybe that still leaves room for developers to build high rise condos, which are desperately needed it seems.

[Louie]

Solid repurposing if true. Didn't realize it was that empty currently, but going from that to a few hundred permanent residents would be great.

[Garrett]

It’s about 375,000 sqft, so I imagine they could get about 350 apartments out of that, give or take

[Athomsfere]

Wow, another mid-rise residential conversion. That would be great, but as for the chances of a high or mid-rise new residential tower getting built that sucks.

Yeah, this is worries me as well. However, if all these announced and rumored conversions are apartments, maybe that still leaves room for developers to build high rise condos, which are desperately needed it seems.

This is my thought. Apartments are great, but don't fit the same niche as condos.

When we were looking, there was barely anything for condos.

[CBJason]

This is my thought. Apartments are great, but don't fit the same niche as condos.

When we were looking, there was barely anything for condos.

Yes! A majority want to own, not rent. It seems like I always see the same kinds of units for sale in the same buildings as 10-20 years ago!

[Doctor Fate]

This is my thought. Apartments are great, but don't fit the same niche as condos.

When we were looking, there was barely anything for condos.

Yes! A majority want to own, not rent. It seems like I always see the same kinds of units for sale in the same buildings as 10-20 years ago!

This seems to be a trend nation-wide. When we lived in Salt Lake City there were no condos being built downtown, only apartments. This was despite reports saying that there was a demand for units for sale. Now that we are back in the DC area, the area we are in and some of the surrounding areas are also doing mainly apartments. There are two 20 story residential buildings being built two blocks away from us they are both apartments.

[Garrett]

Yes, condo construction is still nowhere near where it was nationwide pre recession. As I recall there are a couple regulations that make it unattractive along with a lack of incentives that single family homes receive

[Garrett]

Ah yeah, here. Condos now make up only around 5% of multifamily housing construction.

https://www.urban.org/urban-wire/housin ... her%20risk.

[CBJason]

Thanks for that wonderful info, Garrett! Lol. I guess that means Tulsa has the highest restrictions with all those parking lots and what not….

[zippy]

The elevator buttons in that building were complicated when I worked in the mailroom, circa 1984. I believe they were labeled:
G
L
M
T
5
6
etc
but the highest floor that FNBO used was 12.

That alphabet soup on the lowest floors was for Ground, Lobby, Mezzanine, and Terrace.

[almighty_tuna]

You gotta take the elevator to the mezzanine... #superbonbon

[ita]

Thanks for that wonderful info, Garrett! Lol. I guess that means Tulsa has the highest restrictions with all those parking lots and what not….

Our condo development law conversation is in this thread, if you want more locally relevant discussion. A couple years ago, statute of limitation, tolling and repose where all cut in half and theoretically would make it easier/incentivize developers to start building condos again. However, we have not seen a growth in the sector yet, but that may be attributed to the state of financing. Hopefully, with the streetcar, we will get some condo projects downtown as more people look to live in the urban core.

This particular rumor is interesting for sure. I think it would look quite snazzy with new windows and residents would have pretty nice views. Additionally, there could be a grocery store right next door at the Civic Site.

[nativeomahan]

I guess that every city is different. And perhaps it varies from nation to nation as well. Where we live in Mexico virtually 100% of multi unit construction is condos. And I would estimate the split between single family vs. condo units being built is close to 40-60 (condos being the 60).

[Cermak]

This will be a good amount of Class A office space removed from DT. Always thought this was a decent building and looks to be in good condition. I also didn’t realize it was nearly empty. Wonder how many more apartments downtown can support ?.

[nativeomahan]

Just a wild guess but I would think that the general downtown CBD area could easily support thousands more housing units built over the next 15-20 years.

[Athomsfere]

This will be a good amount of Class A office space removed from DT. Always thought this was a decent building and looks to be in good condition. I also didn’t realize it was nearly empty. Wonder how many more apartments downtown can support ?.

I mean the current goal is to get 30k people living in the core. And since no one wants the risk of condos... I'll go with a lot more to go.

[ita]

This will be a good amount of Class A office space removed from DT. Always thought this was a decent building and looks to be in good condition. I also didn’t realize it was nearly empty. Wonder how many more apartments downtown can support ?.

I mean the current goal is to get 30k people living in the core. And since no one wants the risk of condos... I'll go with a lot more to go.

Here's another way to look at it. Per the streetcar site, there were 48k jobs downtown in the 60's. Downtown had a parking boom thinking they could stop businesses moving out west. It currently has 40k+ parking spots. Currently, we have about 25k jobs downtown. I think the last reported number of residents downtown is around 7k. Number of employees doesn't necessarily equate to residents, but I think downtown has capacity and potential to support many, many more people.

[Garrett]

This will be a good amount of Class A office space removed from DT. Always thought this was a decent building and looks to be in good condition. I also didn’t realize it was nearly empty. Wonder how many more apartments downtown can support ?.

I mean the current goal is to get 30k people living in the core. And since no one wants the risk of condos... I'll go with a lot more to go.

Here's another way to look at it. Per the streetcar site, there were 48k jobs downtown in the 60's. Downtown had a parking boom thinking they could stop businesses moving out west. It currently has 40k+ parking spots. Currently, we have about 25k jobs downtown. I think the last reported number of residents downtown is around 7k. Number of employees doesn't necessarily equate to residents, but I think downtown has capacity and potential to support many, many more people.

2022 numbers put the downtown population (basically the 480 loop north of Pierce Street) at a little over 10,000 people, and the urban core (between Cuming, Saddle Creek, Leavenworth, and the river) around 27,500

[F0R_L1F3]

Civic square, revise your plans please and become denser. If there's a streetcar that'll run right next to it and the conversion of this tower, this could be a gamechanger. Really improve this stretch of downtown.

[skip]

It’s true! Building will be transitioning to apartments. Again, developed by NuStyle

[Garrett]

It’s true! Building will be transitioning to apartments. Again, developed by NuStyle

Nice, any idea on numbers? That’s a crazy amount of investment by NuStyle over these last couple years. A bit surprised they have that much capital.

[jomaha9]

It’s true! Building will be transitioning to apartments. Again, developed by NuStyle

Thats great news! I am also glad that someone could validate what I had heard a while back.

One thing that I am still wondering about is how they will use the first floor as it is massive and how this might impact the status of the DoubleTree. It would be nice to see that whole complex redesigned and reopen 16th street.

[Greg S]

Being sold and converted to 300 apartments by NuStyle:

https://omaha.com/news/local/business/d ... -top-story

First National Bank of Omaha is in the process of selling the 22-story FNBO Main Bank building at 16th and Dodge Streets to NuStyle Development, which has plans to convert the building into 300 apartments and commercial space.

The building became available for redevelopment when FNBO in recent years consolidated many of its downtown employees into the First National Tower — its current headquarters, located directly across Dodge Street from the older bank building.

[Garrett]

So between this, The Beam, and The Duo, NuStyle is actively developing around 1,200 apartments downtown. That's absolutely insane. Does anyone know off-hand the current number of residences downtown?

Reading the article, this project is budgeted at $65-70 million, so another check mark in the streetcar list?

Also, I have to laugh that they say that if you measure by floors, this is Omaha's third tallest building, but then clarify that it only ranks 6th in actual height.

[Doctor Fate]

Commercial space on the bottom two floors, market rate apartments, hoping to open fall 2026.

Heistand said they embraced this project as a way to help revitalize 16th street. With this and The Duo, that will bring a lot of residents to that corridor.

[Doctor Fate]

It’s true! Building will be transitioning to apartments. Again, developed by NuStyle

Thats great news! I am also glad that someone could validate what I had heard a while back.

One thing that I am still wondering about is how they will use the first floor as it is massive and how this might impact the status of the DoubleTree. It would be nice to see that whole complex redesigned and reopen 16th street.

Heistand said that at least part of the first and second floors would be commercial space.

[skinzfan23]

Another great conversion by NuStyle. Loving it. They have been so great for the city of Omaha.

[skip]

absolutely amazing for downtown. office conversion to residential is great for many reasons, but what I'm most happy about is we are adding hundreds of people to downtown without taking additional lots and without adding much more commercial space.

I've always felt we have too much commercial space compared to residential downtown.

[Garrett]

Answering my own housing question above, there were 5,725 housing units with 8,971 residents in 68102 (more or less between Leavenworth, 24th, Nicholas, and the river) in 2022. The 3 NuStyle projects alone represent an increase of about 21%, which would bring about 1,900 new residents. Downtown will easily be clearing 10,000 residents by 2030.

[Brad]

Great news. I'm glad the Omaha Press Club is staying, its a cool place with great views. I didn't see it in the article, but I wonder about exterior renovations, like new windows or some kind of re-skin?

[Brad]

Also, I just merged the new "FNBO Main Bank Building (not tower)" thread in to the origional thread that was posted on this form back in April! Nice intel on that rumor!

[Doctor Fate]

Answering my own housing question above, there were 5,725 housing units with 8,971 residents in 68102 (more or less between Leavenworth, 24th, Nicholas, and the river) in 2022. The 3 NuStyle projects alone represent an increase of about 21%, which would bring about 1,900 new residents. Downtown will easily be clearing 10,000 residents by 2030.

10,000 residents by 2030, and the goal is to be at 30,000 by 2040 right? So we should be seeing a lot more residential start to pop up.

[Garrett]

Answering my own housing question above, there were 5,725 housing units with 8,971 residents in 68102 (more or less between Leavenworth, 24th, Nicholas, and the river) in 2022. The 3 NuStyle projects alone represent an increase of about 21%, which would bring about 1,900 new residents. Downtown will easily be clearing 10,000 residents by 2030.

10,000 residents by 2030, and the goal is to be at 30,000 by 2040 right? So we should be seeing a lot more residential start to pop up.

Within the greater urban core which stretches west to 48th street and over the river into Council Bluffs. But this early momentum is definitely great to see.

[swinquest]

Great news. I'm glad the Omaha Press Club is staying, its a cool place with great views. I didn't see it in the article, but I wonder about exterior renovations, like new windows or some kind of re-skin?

Is there a way to read the article without having to pay? I'm interested in the read, but don't want to pay.

[OverlookedFarm]

I feel bad for whoever moves into the 11th floor. They will never sleep as the haunts of the fax machine chewing up my TPS reports 4 pages at a time will keep them stirring thru the night.


It is interesting. It is a beautiful building in great shape. The Press Club is on the top floor. The 3rd floor (or was it the 4th?) is the old office for John Lauritzen It has super high ceilings, a pond and lots of luxury fixtures and carpeting. He was afraid of heights so his office was down low. The travertine stone in the campus really made it look awesome. The bank lobby was opulent.

When the wind blew, the building would twist against the steel staircases and crack and moan.

HVAC will be a problem. It's basically a greenhouse with ancient window technology. The east, south and west windows were tinted, The thermostats would work overtime as the sun moved east to west in the summer. By the end of the day, those in the east side were frozen like ice cubes.

And, the best of all...... let me tell you about the "views"....err... immean the "shows" the double tree guests would put on in the windows.

[Linkin5]

Great news. I'm glad the Omaha Press Club is staying, its a cool place with great views. I didn't see it in the article, but I wonder about exterior renovations, like new windows or some kind of re-skin?

Is there a way to read the article without having to pay? I'm interested in the read, but don't want to pay.

I would never condone such activity, but there is a 12 foot ladder on the internet to assist with issues like this.

[remline]

Is there a way to read the article without having to pay? I'm interested in the read, but don't want to pay.

If you have a library card, you can access the Omaha World-Herald via the library's Newspapers, Magazines & Journals website.