25 story apartment high rise

[Upintheair]

This comes from a source in the corporate real estate leasing business. An Austin-based developer is going to propose a 25 story apartment high rise in Omaha. It would contain 300+ apartments and seven floors of heated parking. An exact location was not given to my source, but it will be along the street car route. The purchase of real estate is already in motion. Pre-leasing tentatively would start in 2025.

[Npdodger12]

60-90 days. LOL

[Louie]

now hear me out, what if this is someone purchasing part of the mutual property? not sure the timing is right, though

[Doctor Fate]

now hear me out, what if this is someone purchasing part of the mutual property? not sure the timing is right, though

A previous rumor about the Mutual site in Midtown said that there was a preliminary plan for at least one 20+ story residential high rise.

[NEDodger]

now hear me out, what if this is someone purchasing part of the mutual property? not sure the timing is right, though

Nah. I don’t think that can be touched until Mutual vacates.

[jomaha9]

I wonder if this type of development would be built closer to 10th street. I think there might have been a proposed highrise development on 10th between Harney and Farnam that fell through before the pandemic. There are lots of surface parking lots that could be developed quickly to meet the 2025 pre-lease date.

[Louie]

I wonder if this type of development would be built closer to 10th street. I think there might have been a proposed highrise development on 10th between Harney and Farnam that fell through before the pandemic. There are lots of surface parking lots that could be developed quickly to meet the 2025 pre-lease date.

How long before a buildings completion does pre-leasing typically start?

[Garrett]

If even half of these rumors pan out this decade is going to see more construction than the last 50 years combined. Assuming purchases are indeed happening I suppose that’s easy enough info to verify if we keep track of parcels along the route.

[Kminustwo]

If even half of these rumors pan out this decade is going to see more construction than the last 50 years combined. Assuming purchases are indeed happening I suppose that’s easy enough info to verify if we keep track of parcels along the route.

AGREED! You get the feeling that there's a lot of momentum just brewing for Omaha under the surface. From all of these rumors there seems to be alot of behind the door meetings going on to feed these rumors and this one is no doubt one of the juiciest. So will it be 10th and Harney finally?!

[iamjacobm]

Not that it means anything, but there is a firm out of Austin whose Founder/CEO is a UNO grad. They have done mostly student housing, but appear to be doing ~25 story multi in Austin and Phoenix right now. Again there are probably dozens of developers in ATX w/ high rise capability, but a potential local connection.

[OmahaJaysCU]

I was also going to point out Hines is based out of Texas I’m pretty sure

[Doctor Fate]

Not that it means anything, but there is a firm out of Austin whose Founder/CEO is a UNO grad. They have done mostly student housing, but appear to be doing ~25 story multi in Austin and Phoenix right now. Again there are probably dozens of developers in ATX w/ high rise capability, but a potential local connection.

You're referring to Lincoln Ventures (LV) right? They are also currently doing Paseo in Austin, 48 stories and 567 ft. Paseo at 80 Rainey

[Garrett]

I was also going to point out Hines is based out of Texas I’m pretty sure

Hines is Houston based though.

[Doctor Fate]

25 stories, with 7 of them being a garage, would put this at about 300 feet.

[OmahaJaysCU]

I was also going to point out Hines is based out of Texas I’m pretty sure

Hines is Houston based though.

Maybe I should have finished my thought! I was more thinking that they’d certainly have connections in Austin if they wanted to tap another developer which wouldn’t be unheard of

[Garrett]

I was also going to point out Hines is based out of Texas I’m pretty sure

Hines is Houston based though.

Maybe I should have finished my thought! I was more thinking that they’d certainly have connections in Austin if they wanted to tap another developer which wouldn’t be unheard of

You committed one of the classic blunders

[iamjacobm]

Not that it means anything, but there is a firm out of Austin whose Founder/CEO is a UNO grad. They have done mostly student housing, but appear to be doing ~25 story multi in Austin and Phoenix right now. Again there are probably dozens of developers in ATX w/ high rise capability, but a potential local connection.

You're referring to Lincoln Ventures (LV) right? They are also currently doing Paseo in Austin, 48 stories and 567 ft. Paseo at 80 Rainey

Dang, that's a bigger project than I remembered, it looks like their Phoenix deal is more the scale I was thinking of.

[Doctor Fate]

Not that it means anything, but there is a firm out of Austin whose Founder/CEO is a UNO grad. They have done mostly student housing, but appear to be doing ~25 story multi in Austin and Phoenix right now. Again there are probably dozens of developers in ATX w/ high rise capability, but a potential local connection.

You're referring to Lincoln Ventures (LV) right? They are also currently doing Paseo in Austin, 48 stories and 567 ft. Paseo at 80 Rainey

Dang, that's a bigger project than I remembered, it looks like their Phoenix deal is more the scale I was thinking of.

That one looks like it is 25 stories and 250ft tall, with 350+ units and 6 floors of parking. They tried to get the height to 275 but a law prevented them.

[Linkin5]

Wouldn’t be the worst thing to have those incredibly ugly surface lots in west downtown developed.

[Louie]

Wouldn’t be the worst thing to have those incredibly ugly surface lots in west downtown developed.

So much opportunity there!

[Guest]

I've also heard a rumor about a 25 story apartment building coming downtown from a reputable source in the commercial real estate space last fall. Must be in the early stages. Hope it goes forward and we get some public information soon.

[MadJack]

60-90 days. LOL

Looks like someone is taking a page from your book.

[OmahaJaysCU]

This is from a source I’m not 100% on, but I’ve been told the focus of the UP lot has shifted to mixed use. Lanaha was who was adamant about the site being Office. Now that it isn’t his, sounds like housing is the focus. Wondering if this is the case?

Trying to think of a way for there to be two residential high rise rumors to be true. Con Agra condos and UP site??

[Doctor Fate]

This is from a source I’m not 100% on, but I’ve been told the focus of the UP lot has shifted to mixed use. Lanaha was who was adamant about the site being Office. Now that it isn’t his, sounds like housing is the focus. Wondering if this is the case?

Trying to think of a way for there to be two residential high rise rumors to be true. Con Agra condos and UP site??

The mayor did say on Grow Omaha a couple weeks ago that there were developers who wanted to do a mixed use tower on the old UP site that would be a high end hotel, office, residential, and retail....

[NEDodger]

This is from a source I’m not 100% on, but I’ve been told the focus of the UP lot has shifted to mixed use. Lanaha was who was adamant about the site being Office. Now that it isn’t his, sounds like housing is the focus. Wondering if this is the case?

Trying to think of a way for there to be two residential high rise rumors to be true. Con Agra condos and UP site??

This makes sense. I just don’t know how anyone post-Covid can demand that a high rise be 100% office unless it’s wholly owned like Mutual.

[nebport5]

This is from a source I’m not 100% on, but I’ve been told the focus of the UP lot has shifted to mixed use. Lanaha was who was adamant about the site being Office. Now that it isn’t his, sounds like housing is the focus. Wondering if this is the case?

Trying to think of a way for there to be two residential high rise rumors to be true. Con Agra condos and UP site??

Well Hines has already stated apartments over condos to be more likely, yet 25 stories seems unlikely there...and yet if it's the old U.P. site, 25 stories seems like the minimum if were counting on hospitality, residential, office and retail. But then maybe I'm just a delusional member of the H.O.C.

[Gromaha24]

I work for an investment group that owns several apartment complexes around Omaha. Since the reopening of the park downtown, we’ve seen a big uptick in requests for downtown apartments, but since the announcement of Mutual’s tower and the street car approval, demand has exploded. We are currently exploring the possibility of adding up to 900 apartments units in the downtown area. I’m not going into details, but there will be some pretty good height involved with the projects we’re exploring and there will be several mixed use elements sprinkled in. We are aware of the soon to be proposed 25 story tower, as it will be built on a neighboring property.

[stormchaser]

I work for an investment group that owns several apartment complexes around Omaha. Since the reopening of the park downtown, we’ve seen a big uptick in requests for downtown apartments, but since the announcement of Mutual’s tower and the street car approval, demand has exploded. We are currently exploring the possibility of adding up to 900 apartments units in the downtown area. I’m not going into details, but there will be some pretty good height involved with the projects we’re exploring and there will be several mixed use elements sprinkled in. We are aware of the soon to be proposed 25 story tower, as it will be built on a neighboring property.

Exciting stuff (assuming all true) - hopefully everything comes together for everything

[Doctor Fate]

I work for an investment group that owns several apartment complexes around Omaha. Since the reopening of the park downtown, we’ve seen a big uptick in requests for downtown apartments, but since the announcement of Mutual’s tower and the street car approval, demand has exploded. We are currently exploring the possibility of adding up to 900 apartments units in the downtown area. I’m not going into details, but there will be some pretty good height involved with the projects we’re exploring and there will be several mixed use elements sprinkled in. We are aware of the soon to be proposed 25 story tower, as it will be built on a neighboring property.

This is awesome! Excited to see how things play out!

[ita]

Late to the party, but Gromaha24, 900 units you say? That's like three or four high rise towers, or 6 city blocks of 4+1's. Please say it's the former.

[stormchaser]

I think these comments increase the odds that at least some of the other recent residential tower rumors are probably true. Only time will tell…

[skinzfan23]

Can’t wait to see some proposals hopefully later this year!

[Garrett]

I work for an investment group that owns several apartment complexes around Omaha. Since the reopening of the park downtown, we’ve seen a big uptick in requests for downtown apartments, but since the announcement of Mutual’s tower and the street car approval, demand has exploded. We are currently exploring the possibility of adding up to 900 apartments units in the downtown area. I’m not going into details, but there will be some pretty good height involved with the projects we’re exploring and there will be several mixed use elements sprinkled in. We are aware of the soon to be proposed 25 story tower, as it will be built on a neighboring property.

Neighboring property potentially sets off bells for me that the 25 story is for Lanoha, and you may be speaking from the perspective of someone developing that Civic site? Otherwise maybe 10th/Harney since there are the two surface lots there. Any other guesses on what neighboring properties these could be?

[Omaha Cowboy]

This is from a source I’m not 100% on, but I’ve been told the focus of the UP lot has shifted to mixed use. Lanaha was who was adamant about the site being Office. Now that it isn’t his, sounds like housing is the focus. Wondering if this is the case?

Trying to think of a way for there to be two residential high rise rumors to be true. Con Agra condos and UP site??

We have been speculating for months-now that the city has regained ownership of the 1416 Dodge parcel (UP site)-whatever development goes there would likely be mixed use- residential, hospitality and retail/office. I still believe whatever lands on this property will contain at least 2-3 of those elements..

What we do know, is that the city has ALWAYS wanted a significant, tall, skyline enhancing development on this parcel. My understanding is that RFP’s were submitted several weeks back; so I’m excited to see what these proposals look like, and the elements contained with them…

Ciao..LiO…Peace

[MadJack]

I work for an investment group that owns several apartment complexes around Omaha. Since the reopening of the park downtown, we’ve seen a big uptick in requests for downtown apartments, but since the announcement of Mutual’s tower and the street car approval, demand has exploded. We are currently exploring the possibility of adding up to 900 apartments units in the downtown area. I’m not going into details, but there will be some pretty good height involved with the projects we’re exploring and there will be several mixed use elements sprinkled in. We are aware of the soon to be proposed 25 story tower, as it will be built on a neighboring property.

Neighboring property potentially sets off bells for me that the 25 story is for Lanoha, and you may be speaking from the perspective of someone developing that Civic site? Otherwise maybe 10th/Harney since there are the two surface lots there. Any other guesses on what neighboring properties these could be?

Could also be Turner Park East area. That's not downtown proper but is on the streetcar route.

[Doctor Fate]

I work for an investment group that owns several apartment complexes around Omaha. Since the reopening of the park downtown, we’ve seen a big uptick in requests for downtown apartments, but since the announcement of Mutual’s tower and the street car approval, demand has exploded. We are currently exploring the possibility of adding up to 900 apartments units in the downtown area. I’m not going into details, but there will be some pretty good height involved with the projects we’re exploring and there will be several mixed use elements sprinkled in. We are aware of the soon to be proposed 25 story tower, as it will be built on a neighboring property.

Are you a local investment group? Do you guys own any apartments downtown already?

[ita]

I work for an investment group that owns several apartment complexes around Omaha. Since the reopening of the park downtown, we’ve seen a big uptick in requests for downtown apartments, but since the announcement of Mutual’s tower and the street car approval, demand has exploded. We are currently exploring the possibility of adding up to 900 apartments units in the downtown area. I’m not going into details, but there will be some pretty good height involved with the projects we’re exploring and there will be several mixed use elements sprinkled in. We are aware of the soon to be proposed 25 story tower, as it will be built on a neighboring property.

Neighboring property potentially sets off bells for me that the 25 story is for Lanoha, and you may be speaking from the perspective of someone developing that Civic site? Otherwise maybe 10th/Harney since there are the two surface lots there. Any other guesses on what neighboring properties these could be?

We could narrow down the spot better is we knew whether the 900 units are in one spot or throughout downtown. 900 units is a heck of a lot, particularly if it's clustered together. The Capitol District Apartments is about 22 units per floor, so for 900 units that's about 40 stories. Realistically, that's likely 3-4 buildings if they have similar footprints as CDA's. There's not a lot of properties that can take on that much development.

Here's my wild guess on this unverified rumor. Physician's Mutual is moving to the Mercantile (the unknown insurance company). They sell the property to this unknown investment group wanting to build 900 units. It's not right on the streetcar route but still within the 3 block radius and is right on the ORBT route. The 25 story tower is going across the street at the Lutheran Family Services property that was bought by Schafer Richardson.

[Omaha Cowboy]

I would be highly surprised if 900 units were contained at one spot..

Far more likely spread between 2 and (IMO) 3 locations. And one of those 3 could certainly be in the Turner East area…

Ciao..LiO…Peace

[Kminustwo]

I can't wait to see how all of this plays out! Man this is going to be good!

[CBJason]

Just saw an article about Austin where a property east of the Capitol is getting 1000 apartments in 2 37 story buildings. Unfortunately, I doubt that's what we'd be getting here.