The national love affair with the multifamily sector may be starting to cool, but the Omaha market is just coming of age and heating up. “Overall, it was a strong third quarter, which was a nice surprise,”said Michael Cohen, CoStar Group director of advisory services, during his State of the Multifamily Market Third Quarter Review and Outlook on Nov. 1. “We’re still in the golden age for multifamily, but we’re seeing signs of a gradual slowdown in the apartment market.” Trendy new apartment towers and historic building conversions in downtown Omaha are all the rage — like most markets — but under the radar the entire Omaha metro is experiencing a significant boom in apartment development and sales. And why not? What’s not to like about Omaha? We are the non-threatening little brother of the Midwest that everyone likes, but never thought of in that way. But something has changed and Omaha is catching the attention of players that would have traditionally overlooked our strong fundamentals. Omaha has a diversified and stable economy fortified by nine Fortune 1000 companies, including Berkshire Hathaway, Union Pacific Railroad, Mutual of Omaha and TD Ameritrade, as well as a burgeoning innovation scene and a …
