Lutheran Family Services

[mistergutierrez]

This sale signed appeared today in the Lutheran Family Services in 24th and Dodge. Great lot for development. Also because there are two surfaces parking lots, and all of them deserve to be annihilated.

[Athomsfere]

I've actually been eying this property on sale for a couple months, as in if I had the cash I'd buy it and it's neighbors for sale (the apartments next door are also for sale).

It would be a great spot IMO for a downtown grocer, with offices up top.

[ita]

This sale signed appeared today in the Lutheran Family Services in 24th and Dodge. Great lot for development. Also because there are two surfaces parking lots, and all of them deserve to be annihilated.

Agreed, this sale has the potential to eliminate two surface parking lots. Crossing my fingers a good developer purchases this property with decent vision. You have proximity to BRT, Creighton, Central High, Joslyn. Really good location. I really want some tall buildings in that area to help fill out the skyline with the Highline and Westbrook tower. Would a couple 10 story mixed used buildings be too much to ask?

[LetsBeReal22]

Where is Lutheran Family Services moving to?

[Athomsfere]

Where is Lutheran Family Services moving to?

The property is for sale, but advertises (official listings) that it's leased currently. I don't believe Lutheran Services moving is any sort of requirement.

https://www.crexi.com/properties/499564 ... evelopment

Parcel B is the second parking lot.

Parcel A is the Lutheran Services building 1st lot.

Located on Omaha Metro rapid transit route with stops at 24th & Dodge (Joslyn) and 24th & Douglas; & 1 block north from proposed Omaha Streetcar line

Seller relocating business and is willing to continue to occupy the Danklau building (Parcel A) through 12/31/2022 via lease-back for $5.00 PSF, NNN; Seller will pay all occupancy costs for this building

31 unit apartment building with two surface parking options; studio, one- and two-bedroom mix - Contact agent for apartments details

A mention of the streetcar too!

But it reads like, anyone could do whatever they wanted, but what happens with existing stuff is the buyers choice.

Parcel C even appears to pay it's own financing...

[ita]

Where is Lutheran Family Services moving to?

The property is for sale, but advertises (official listings) that it's leased currently. I don't believe Lutheran Services moving is any sort of requirement.

https://www.crexi.com/properties/499564 ... evelopment

Parcel B is the second parking lot.

Parcel A is the Lutheran Services building 1st lot.

Located on Omaha Metro rapid transit route with stops at 24th & Dodge (Joslyn) and 24th & Douglas; & 1 block north from proposed Omaha Streetcar line

Seller relocating business and is willing to continue to occupy the Danklau building (Parcel A) through 12/31/2022 via lease-back for $5.00 PSF, NNN; Seller will pay all occupancy costs for this building

31 unit apartment building with two surface parking options; studio, one- and two-bedroom mix - Contact agent for apartments details

A mention of the streetcar too!

But it reads like, anyone could do whatever they wanted, but what happens with existing stuff is the buyers choice.

Parcel C even appears to pay it's own financing...

Did someone say streetcar!?

Thanks for sharing the for sale posting. I couldn't find it during my brief google search. They are trying to sell this one; they are hitting all the hot points about this site, opportunity zone, transit, proximity to key destinations. I am really hoping something real good gets built here.

[Athomsfere]

Did someone say streetcar!?

Thanks for sharing the for sale posting. I couldn't find it during my brief google search. They are trying to sell this one; they are hitting all the hot points about this site, opportunity zone, transit, proximity to key destinations. I am really hoping something real good gets built here.

I actually would be curious why someone like NuStyle wouldn't want to pickup lot B. Add some near site parking for The Wire, The Highline / Highline 2, and build new residential.

Maybe the core is hitting capacity, for "luxury apartments"?

[mistergutierrez]

I read or heard somewhere that NuStyle is not trying to develop more in the near future because of risk of market saturation. They also own, and they are holding, the lot on the NW corner of Farnam and 20th, isn't it?

What I miss downtown is "family urban living". I know it is not the norm, but, I don't like houses, I prefer apartments; however, there are not affordable 3 bedroom apartments in the downtown/midtown area. Three bedrooms apartments are marketed for "three paying customers", either college students or young professionals sharing a home, not for a family of four with two incomes.

[ita]

I read or heard somewhere that NuStyle is not trying to develop more in the near future because of risk of market saturation. They also own, and they are holding, the lot on the NW corner of Farnam and 20th, isn't it?

What I miss downtown is "family urban living". I know it is not the norm, but, I don't like houses, I prefer apartments; however, there are not affordable 3 bedroom apartments in the downtown/midtown area. Three bedrooms apartments are marketed for "three paying customers", either college students or young professionals sharing a home, not for a family of four with two incomes.

You're right, I think there is some saturation for a specific type of housing unit, the one person apartment. The Bank actually has some two and three bedroom units and the Garage Lofts of 24th has affordable housing options with 3-4 bedroom units. Outside of those though, I don't know many new projects with housing geared for families.

[iamjacobm]

Looks like this was bought by a firm called Schafer Richardson out of MSP. Quick glance looks like they have some nice infill work both market rate and income restricted. Will be interesting to see what they have planned eventually.

https://sr-re.com/projects/?

[Athomsfere]

Looks like this was bought by a firm called Schafer Richardson out of MSP. Quick glance looks like they have some nice infill work both market rate and income restricted. Will be interesting to see what they have planned eventually.

https://sr-re.com/projects/?

Yes. It looks like some of that work is exactly what needs to go there. And they worked on the Orpheum apparently. So not even new to the market which could be good.

[ita]

Looks like this was bought by a firm called Schafer Richardson out of MSP. Quick glance looks like they have some nice infill work both market rate and income restricted. Will be interesting to see what they have planned eventually.

https://sr-re.com/projects/?

Yes. It looks like some of that work is exactly what needs to go there. And they worked on the Orpheum apparently. So not even new to the market which could be good.

Looking at the assessor's site, the sale to SR occurred in the beginning of March, a year after it was listed, but a mere month and some change after the City announced the streetcar. They ended up getting it for $2.3M when the listing price was $4.5M. Are there any interesting properties that have been bought up near the streetcar corridor since the announcement? Anyway, this should be site to watch since it's at the crossroads of 24th and Dodge with ORBT access and a couple couple blocks from the streetcar. From Schafer's portfolio, I would like to see something like the 720 or 730 lofts of, even better, Phoenix on the River, at the LFS site.

[iamjacobm]

This lot is on NIFA's preapplication list for 4% LIHTC funds and private activity bonds. The summary says 114 all LIHTC units meaning all affordable and income restricted, just under $40 million project. Can't tell if NIFA posts application material on their site or not, but the name of the building appears to be "Holt"

[labguy]

Where is Lutheran Family Services moving to?

In the past week, signs for LFS have gone up on the former Marco/Better Business Equipment building at 80th and Center.

[ita]

This lot is on NIFA's preapplication list for 4% LIHTC funds and private activity bonds. The summary says 114 all LIHTC units meaning all affordable and income restricted, just under $40 million project. Can't tell if NIFA posts application material on their site or not, but the name of the building appears to be "Holt"

Nice find! So, probably a 4+1 stick building? I am trying not to be disappointed because its low income housing on the ORBT and future streetcar route. Looking forward to renderings a layout. I wonder how much of the parcel the building takes.

[BIGO88]

Where is Lutheran Family Services moving to?

In the past week, signs for LFS have gone up on the former Marco/Better Business Equipment building at 80th and Center.

NP dodge tweeted that they signed a lease and will be moving to the Cedarnole Shopping Center off of 72nd and dodge.

[Athomsfere]

This lot is on NIFA's preapplication list for 4% LIHTC funds and private activity bonds. The summary says 114 all LIHTC units meaning all affordable and income restricted, just under $40 million project. Can't tell if NIFA posts application material on their site or not, but the name of the building appears to be "Holt"

Nice find! So, probably a 4+1 stick building? I am trying not to be disappointed because its low income housing on the ORBT and future streetcar route. Looking forward to renderings a layout. I wonder how much of the parcel the building takes.

They don't say number of units, right?

But it's double the budget of the square apartments, with probably not as high end materials. If they bought all 3 or 4 parcels, definitely 5 over 1 IMO. If they bought 1 or two, it could be something more interesting.

[ita]

This lot is on NIFA's preapplication list for 4% LIHTC funds and private activity bonds. The summary says 114 all LIHTC units meaning all affordable and income restricted, just under $40 million project. Can't tell if NIFA posts application material on their site or not, but the name of the building appears to be "Holt"

Nice find! So, probably a 4+1 stick building? I am trying not to be disappointed because its low income housing on the ORBT and future streetcar route. Looking forward to renderings a layout. I wonder how much of the parcel the building takes.

They don't say number of units, right?

But it's double the budget of the square apartments, with probably not as high end materials. If they bought all 3 or 4 parcels, definitely 5 over 1 IMO. If they bought 1 or two, it could be something more interesting.

I checked the GIS site. The developer in question owns the portion highlighted in Yellow. The portion in Red is owned by another party:

[Athomsfere]

This lot is on NIFA's preapplication list for 4% LIHTC funds and private activity bonds. The summary says 114 all LIHTC units meaning all affordable and income restricted, just under $40 million project. Can't tell if NIFA posts application material on their site or not, but the name of the building appears to be "Holt"

Nice find! So, probably a 4+1 stick building? I am trying not to be disappointed because its low income housing on the ORBT and future streetcar route. Looking forward to renderings a layout. I wonder how much of the parcel the building takes.

They don't say number of units, right?

But it's double the budget of the square apartments, with probably not as high end materials. If they bought all 3 or 4 parcels, definitely 5 over 1 IMO. If they bought 1 or two, it could be something more interesting.

I checked the GIS site. The developer in question owns the portion highlighted in Yellow. The portion in Red is owned by another party:

So about half a block, 6 stories and 5 over 1 would probably be it then, I'd wager. ~200-300 units?

[iamjacobm]

114 units.

[skip]

114 units.

Assuming Lutheran Family Services moving out west was to free up space for this affordable housing project?

[Coyote]

Lutheran Family Services moves headquarters to central Omaha

Omaha, Neb. (KPTM) — Lutheran Family Services (LFS) announced on Friday morning that it has moved its headquarters for the first time in decades. Beginning this Monday, March 27, the 130-year-old not-for-profit will begin key operations from its new location at 7929 West Center Road. LFS will continue its downtown presence with its existing office at Kountze Commons, 27th and Douglas, and locations at 30th and Lake, 120th and Q, Bellevue, and elsewhere across the state. A second location, in the old Literacy Center at 324 South 72nd Street opens later this year.

[iamjacobm]

https://bvh.com/project/holt/

"HOLT is a 112 unit multifamily building located at 24th & Dodge in Omaha, NE that introduces sustainable high quality affordable housing along Omaha’s newly appointed Transit Oriented Development (TOD). The development offers extensive residential amenities including on-site parking, indoor bike parking, informal social spaces, exercise rooms, kid play areas, catering event spaces, and an outdoor space with playgrounds."

[F0R_L1F3]

Looks awesome! I know I saw a plan from a while ago about a "Joslyn District" and "Federal District" and while it might not happen or not be on par with the intentions, I think it would be awesome if they started more infil development around this area. A lot of underused parking lots.