The Bank Apartments (Former Farm Credit Building)

Downtown, Midtown, and all parts east of 72nd.

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OmahaChef
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The Bank Apartments (Former Farm Credit Building)

Post by OmahaChef »

I have it from an excellent source that the former Farm Credit Building downtown, which has been for sale for a few months now, is sold, or in the process of being settled, and will be converted to apartments by an area developer who has done a number of past downtown projects.
Always a business-oriented city hungry for growth and focused on development with laser intensity, Omaha aimed high, reached for momentum and found critical mass.
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nativeomahan
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Post by nativeomahan »

Many years ago my Dad has his law office in that building.  And for years my Mom's dentist was located there.
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iamjacobm
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Post by iamjacobm »

Tons of living options popping up downtown awesome!
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S33
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Post by S33 »

Farm Credit Building, the big red bricked building with the giant round communications antenna on top?
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Big E
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Post by Big E »

Image
Stable genius.
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OmahaJaysCU
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Post by OmahaJaysCU »

That would make a great addition to the area.  The Douglas Building across the street was renovated a few years back if I remember correctly, it would be great to see this corridor take off.
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Brad
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Post by Brad »

Southwest corner of 19th and Douglas.
Image
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OmahaJaysCU
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Post by OmahaJaysCU »

In case you're keeping track, there are currently 8 properties for sale on 19th St in downtown.  The Empire State Building, The Douglas Building, The Farm Credit Building (and garage), 1818 Dodge (goofy circular building), 1815 Capitol, the parking garage and lots on 19th and Capitol, the 1918 Dodge Parking lot, and the former Northwestern Bell Building.  

Can you say potential?
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Bosco55David
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Post by Bosco55David »

S33 wrote:Farm Credit Building, the big red bricked building with the giant round communications antenna on top?
That's the AT&T building.
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Post by Guest »

The sale also includes the very large and very awesome late Mid-Century "Brutalist" garage.  There will be plenty of parking for these tenants!
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Post by Guest »

No longer a rumor.  Nustyle Development is doing this.  Building to have around 100 apartments with a mix of 1 and 2 bedroom units.  Look for construction to start this fall or winter.
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Bosco55David
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Post by Bosco55David »

Good news. Now hopefully they don't get stupid with high rental rates.
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Post by Guest »

I have a handful of pics from the roof of this building I never posted. They are from a crappy winter day but I'll post em up here sometime. Should make for a nice option downtown.
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Post by the1wags »

Ooops, that was me.
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Post by the1wags »

Here's two pics from there.

Image

Image
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Brad
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Post by Brad »

That's second pic at night done long exposure would be cool
the1wags
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Post by the1wags »

Yeah, that's exactly what I was scouting, but never got up there again.
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Post by ShawJ »

I'm not ready for winter...

Nice shots and views though.
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Post by thenewguy »

ShawJ wrote:I'm not ready for winter...

Nice shots and views though.
i agree.
Go Cubs Go
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2Adam29
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Post by 2Adam29 »

New life for empty Farm Credit Building

the Omaha World-Herald wrote:The Farm Credit Building, one of downtown Omaha’s largest mostly vacant structures, has been sold to a longtime local developer who plans to convert it into apartments and retail space.

Todd Heistand of NuStyle Development Corp. paid $2.1 million for the office building at 206 S. 19th St. and the nearby Douglas Street Garage at 2023 Douglas St.
the Omaha World-Herald wrote:“We’re trying to get that area moving again,” Heistand said Wednesday. “Everyone’s been building condos for the last five years, and they haven’t been building apartments.”
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Big E
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Post by Big E »

2Adam29 wrote:“Everyone’s been building condos for the last five years, and they haven’t been building apartments.”
That's about as no-brainer as it gets.  The rental market is crazy underserved downtown right now.
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Farm Credit Building

Post by furryfriend »

New life for empty Farm Credit Building

the Omaha World-Herald wrote:The Farm Credit Building, one of downtown Omaha’s largest mostly vacant structures, has been sold to a longtime local developer who plans to convert it into apartments and retail space.

Todd Heistand of NuStyle Development Corp. paid $2.1 million for the office building at 206 S. 19th St. and the nearby Douglas Street Garage at 2023 Douglas St.
the Omaha World-Herald wrote:“We’re trying to get that area moving again,” Heistand said Wednesday. “Everyone’s been building condos for the last five years, and they haven’t been building apartments.”
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Post by StreetsOfOmaha »

Really great news!
"The right to have access to every building in the city by private motorcar in an age when everyone possesses such a vehicle is actually the right to destroy the city."
Lewis Mumford, The Highway and the City, 1963
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guy4omaha
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Post by guy4omaha »

Big E wrote:Image
One of my favorite buildings and streets downtown. It would be great (big understatement) to see this area gain momentum.
My son got a 27 on his ACT. No this score is not as high as what Jeff's son achieved. But one has to remember the paternal gene-pool my son has to overcome. On a PGPAB [Paternal Gene-Pool Adjusted Basis], my son's score is a 37 and Jeff's son's PGPAB ACT score is 19.
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RockHarbor
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Post by RockHarbor »

That's great.  Those will make neat downtown apartments.  Two words: Historic gem!
I can get pushed out because I'm "too much" for some. Then, an observer of me comes suddenly swooping in to "fill my shoes." People are always more accepting of the new one, because their feathers aren't truly ruffled by them. (Yawn) I can count on it every time.
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Post by Stargazer »

Wow, I was beginning to think Nustyle was out of the rehabbing business... so we're seeing an apartment renovation boom emerging.  Now we just need to see movement on the Barker Building.
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Post by the1wags »

Stargazer wrote:Wow, I was beginning to think Nustyle was out of the rehabbing business... so we're seeing an apartment renovation boom emerging.  Now we just need to see movement on the Barker Building.
Hopefully the one at 18th and Dodge can get done too.
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Post by nebport5 »

a few via iphone and a dirty window...


Image


Image


Image



rooftop pool?
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bluecollartechworker
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Lighting up downtown

Post by bluecollartechworker »

I'm not sure what building it is or what business goes on there, but the closer of the two red brick buildings stuck together on the left is normally dark at night and I thought it would be great if a percentage of the lights could be left on at night.  It may not be the most efficient, but it would look better.  Sorry for going off subject!
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Post by Ben »

nebport5 wrote: rooftop pool?
One can hope, but more than likely, its probably just new HVAC equipment or roofing materials.  

Reinforcing a roof for a pool (or even just a hot tub) is a very expensive proposition.  I know they looked into it when they rehabbed my building (Beebe Runyan), and it would have been something like $100k+ just to reinforce the roof to hold the extra weight.  Never mind the cost of the actual hot tub.

That's not saying it can't be done (Old Market Lofts), but its usually an unjustifiable expense.
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Post by nebport5 »

Ben wrote:
nebport5 wrote: rooftop pool?
One can hope, but more than likely, its probably just new HVAC equipment or roofing materials.  

Reinforcing a roof for a pool (or even just a hot tub) is a very expensive proposition.  I know they looked into it when they rehabbed my building (Beebe Runyan), and it would have been something like $100k+ just to reinforce the roof to hold the extra weight.  Never mind the cost of the actual hot tub.

That's not saying it can't be done (Old Market Lofts), but its usually an unjustifiable expense.
Yes, the Herald article indicated only a rooftop deck.  For $700-1000 rent a little more would be nice.  Recently they have been replacing structural beams up top.
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Post by Coyote »

The plan is for the rehabilitation/retrofit and conversion of the Farm Credit Building located at 206 South 19th Street into a mixed-use commercial and residential redevelopment project which includes rehabilitating/converting the office floors into 106 market-rate apartment units, renovating the commercial space, and enlarging the 11th floor to house common tenant amenities; the plan also contemplates renovating the Douglas Street Parking Garage located at 2021 Douglas Street.
It is to be completed by December 31, 2012.

Just what are "common tenant amenities"?
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Coyote
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Post by Coyote »

Wouldn't the parking be needed for the 106 apartments.
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Big E
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Post by Big E »

Coyote wrote:Just what are "common tenant amenities"?
I would have to assume workout room, laundry, et al.  Helipad maybe.
Stable genius.
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Linkin5
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Post by Linkin5 »

That parking garage looks like it belongs in a third world country.  Apparently its still structurally sound but it sure doesn't look like it.
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Coyote
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Post by Coyote »

These apartments are SMALL


Image

Image
the1wags
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Post by the1wags »

Depends on how much room you need. I've spent the last 4 and a half years living in spaces smaller than anything listed there. You get used to it pretty quickly, or at least I did.
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Globochem
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Post by Globochem »

1000sf for a two bedroom seems pretty decent to me.
ItsAllAboutMe
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Post by ItsAllAboutMe »

I hope that is a atrium that allows natural light in or those 2 bedrooms in the center of the building will be dismal with no windows.
Historic Omaha
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At home at 'The Bank'

Post by Historic Omaha »

At home at 'The Bank'

http://www.omaha.com/article/20110728/M ... t-the-bank
Steve Jordon WORLD-HERALD STAFF WRITER wrote:It was the Roaring '20s, when Al Capone got his start as a Chicago gangster, the Charleston was THE dance sensation and Bankers Reserve Life Co. built a headquarters at 19th and Douglas Streets, later the home of Farm Credit Banks of Omaha.

Now the 11-story structure, renamed The Bank, is ready for a renewed boom as home to young downtown workers, graduate students and other urban apartment dwellers who may do some roaring of their own.

The marketing plan developed by Archrival of Lincoln for the $16.5 million project latched on to the building's history, naming its seven floor plans the Babyface, the Diamond, the Charleston, the Johnny Red, the Untouchable, the Dillinger and the Capone.
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