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Eastham Capital, a Florida-based, private equity real estate firm that transforms undervalued multifamily real estate, has announced the acquisition of The Colonial, a 258-unit apartment complex near 97th & Maple Street in Omaha. The sale price was $19.1 million.  Eastham Capital has obtained a majority ownership interest in the deal through its current fund, Eastham Capital Fund VI, LP. Bender Companies, which has co-invested and partnered with Eastham Capital on multiple projects, will oversee the day-to-day management. The apartment property is currently 95 percent occupied with average rents of just over $961 per month. The acquisition includes a renovation budget of $1.9 million, which will include interior unit renovations and exterior upgrades, including roof replacements, balcony repairs and parking lot enhancements. “We are thrilled to be making our first acquisition in Nebraska with The Colonial,” said Matthew Rosenthal, founder and managing partner of Eastham Capital....

Four reservoirs currently under construction or in planning stages have been officially named by the Papio Missouri River Natural Resources District. Two of the projects include detention basins in the Gretna area that will be completed later this year. Detention basin WP-4, named Forest City Recreation Area, will be the first to be completed late this summer. It is located west of 204th & Schram Road and will have a 15-acre lake with 81 acres of parkland. Detention basin WP-2, southeast of 180th & Giles Road, was named the Mad Bear Recreation Area in honor of the first Native American awarded with the Congressional Medal of Honor. The recreation area will consist of a 17-acre lake and 84 acres of parkland. It is slated to be completed this fall. Regional detention basin, formerly referred to as WP-1, was named the Marlin Petermann Recreation Area, after a well-known nature conservationist. Located north of the Indian Pointe subdivision southwest of 180th & Fort Street,...

For the first time ever, U.S. News & World Report has named the Omaha metropolitan area as the hottest housing market in America, according to an article released this week. Based on data from January 2025, U.S. News’ analysis of the hottest housing markets incorporates a wide array of data points and provides a simple-yet-comprehensive way to rank the covered metropolitan statistical areas (MSAs) from “frigid to balmy” on a scale of 1-100. To earn its number-one ranking the Omaha MSA received a score of 76.2. In general, the hottest housing markets this year are not the major population centers that dominated in the past. The state of Colorado had four MSAs make the list, while South Carolina and Texas each had three. According to the article, this year’s hottest housing markets “seem to share big-city amenities without the high housing costs of MSAs closer to the megacities along the West and East coasts.” Here are the top 10 hottest markets and their Housing Market Index...

Omaha’s Henry Doorly Zoo and Aquarium has been named the #1 best zoo in America for the third year in a row in the 2025 USA Today’s 10Best Reader’s Choice Awards. The zoo was acknowledged in four separate categories, which were voted on by USA Today readers. Omaha’s honors included Best Zoo, Best Safari Park, Best Zoo Exhibit (Desert Dome) and Best Zoo Membership in the nation. USA Today praised Omaha’s zoo for the world’s largest indoor desert and the Scott African Grasslands exhibit, which offers 28 acres of habitat for iconic African animals. A panel of experts nominated candidates for the best-zoos competition, based animal care and enrichment and meaningful interaction between visitors and the animals. The list then went before the voters, who weighed in with their opinions over the past month. Here are USA Today’s top 10 zoos for 2025: 1. Omaha’s Henry Doorly Zoo and Aquarium (Omaha, Nebraska)2. Cheyenne Mountain Zoo (Colorado Springs, Colorado)3. Columbus Zoo and Aquarium...

Douglas County, home to the City of Omaha, is Nebraska’s most urbanized county, but it has more agriculture-related jobs than any other of the state’s 93 counties. The Greater Omaha Chamber celebrated National Agriculture Day yesterday, hosting a news conference with the Nebraska Farm Bureau, Conagra Brands and the Nebraska Department of Agriculture. The purpose was to emphasize the role agriculture plays in the state’s economy. Nebraska’s agricultural sector supports more than 244,000 jobs statewide and contributes $97.4 billion in sales output. The industry also generates over $6 billion in tax revenue, further cementing agriculture as a vital economic driver for the state. “Nebraska’s agricultural industry continues to be a cornerstone of our economy, providing jobs, economic growth, and tax revenue for our communities,” said Mark McHargue, president of the Nebraska Farm Bureau Foundation board of directors. “From small family farms to large agri-businesses, agriculture is...

The Omaha metropolitan area finally surpassed the 1 million population mark, a long-anticipated milestone. The official population is now 1,001,010 people. The U.S. Census Bureau last week released population estimates – as of July 1, 2024 – for every county in the nation. Once you know each county’s population, you subsequently know metro area populations. That’s because each Metropolitan Statistical Area is comprised of counties as determined by the Census Bureau. Altogether, the United States has several hundred metro areas. The Omaha Metropolitan Statistical Area is a two-state region consisting of five counties in Nebraska (Douglas, Sarpy, Washington, Cass and Saunders) and three in Iowa (Pottawattamie, Harrison and Mills). Omaha’s 2024 population of 1,001,010 is an increase of 12,144 from the previous year’s official estimate of 988,866. That’s a growth rate of 1.23 percent, which is certainly respectable. Since the 2020 census, the Omaha metro area has grown by 3.45 percent....

Milan Laser Corporate, LLC, an Omaha-based chain of laser hair removal salons, has entered into an 11-year lease for 43,494 sq. ft. of office space at 18020 Burt Street, according to Marty Patzner, Marc Siemers, and JJ Boulay of Cushman & Wakefield/The Lund Company, who represented the landlord, SIR Omaha, LLC. The space is part of a two-building complex that was formerly the CSG campus. The company is relocating its headquarters from 17645 Wright Street. Founded in Omaha in 2012, Milan has more than 390 locations in 37 states. “This new lease further strengthens the revitalization of the former CSG campus, which is becoming home to a growing number of innovative companies,” Patzner said. The two buildings are now 75 percent leased. Prime Healthcare is the other primary tenant in the complex. "We are thrilled to welcome Milan Laser as a tenant and to see the building’s continued transformation into a dynamic hub for businesses," Patzner said. "The location offers modern amenities...

GreenSlate Development announced today that it will build a $45 million, 5-story building on the site of the former WOWT-TV building at 35th & Farnam Street along the future streetcar line. Plans call for a multi-family building with 180 apartment units. Floor plans will include studio, one- and two-bedroom units with monthly rents ranging from $1,200 to $2,800 per month. Amenities will include a resort-style pool, grilling areas, fire pits, dog-wash station and a dog park. The project will necessitate the demolition of the old WOWT building. The television station left that building when it moved next door into the 15-story Blackstone Plaza building next door. “We are very excited to continue to build on the 10-plus-year momentum of the Blackstone District with this new project,” said GreenSlate principal Jay Lund. “Repopulating Omaha’s urban core with density is what creates walkability and placemaking that make our city unique and special. These projects also help us attract...

Sower Investment Partners, ACCESS Commercial and Burlington Capital announced this week that “The Arthur” is the name of their 329-unit, class-A apartment complex currently under construction on the southeast corner of 48th & Dodge Street. The name honors Dr. Arthur Pittman, Omaha’s first African-American veterinarian and a prominent civic leader. His single-story office building is being preserved and incorporated into the project. His practice operated there from 1948 until his passing in 1990. The Pittman building will serve as the front entrance to The Arthur. Designed in the Art Moderne architectural style by the renowned John Latenser and Sons, the Pittman building will house The Arthur’s leasing and management office. The 5-story building will be open for move-ins beginning Fall 2025, with pre-leasing beginning this summer. The building sits between the Dundee area and the Blackstone District. The University of Nebraska Medical Center campus is just to the southeast. The...

A hulking relic of Omaha’s ag-industrial past is about to undergo a massive change. Lite Development, a local developer, plans to transform the long-abandoned grain elevator silos on the north side of Interstate 80 near 35th Street into a multifamily development. Located between the I-480 interchange and the 42nd Street exit, the silos are a local landmark. The north side of the elevator property abuts Vinton Street. The Omaha Planning Board this week is reviewing an amendment to the city’s master plan to change the zoning from industrial to high-density residential, a preliminary plat and a planned unit redevelopment overlay district. Plans show a multifamily complex that utilizes the entire 4.88-acre parcel, including reusing some of the existing silos. There will be eight townhomes along 34th Street on the east side of the lot and a 144-unit apartment building on the southwest corner of 24th & Vinton. Several of the middle silos will be partially demolished. According to the...

Council Bluffs continues to move forward on a major development project on the northeast corner of Lake Manawa. The city has been working on subdividing and developing plans to create 500 to 600 new housing units. Last week, the city council approved an agreement with the Iowa Economic Development Authority for a $6.87 million award to help pay for infrastructure, construction of new homes, and to provide down payment assistance of up to $35,000 per buyer. In addition to the IEDA award, the project will be funded by a local match of nearly $9 million, which is sourced from Community Development Block Grant Entitlement funds, an Economic Development Initiative - Community Project Funding grant and the city’s own Housing Development Program. The major infrastructure project will be a connector between Mohawk Road to the west and East Manawa Drive to the east. Last Fall, the city approved plans for Phase 1 of the development from local developer Turn the Paige Homes to build 40...

An independent review of the City of Omaha’s Tax Increment Financing (TIF) program concluded that the city is compliant with state law. The review was completed by Forvis Mazars, an outside CPA and advisory firm. The City hired Forvis Mazars following State Auditor Mike Foley’s September 2024 letter to the Nebraska Legislature on the use of TIF in Nebraska, and the suggestion from then-Senator Mike McDonnell that the City of Omaha should pause its use of TIF. The report provided no justification for pausing TIF, an effective economic development tool. The city’s use of TIF has become an issue in the current mayoral race, which is now heating up. The primary is April 1st. The top two finishers will then compete in the general election on May 13th. McDonnell is one of several candidates challenging incumbent Jean Stothert. Despite the campaign rhetoric, all indications are that TIF is being used properly and is boosting the city’s economic growth and development. Forvis Mazars reviewed...