The Rye at Harrison (Phase I) is a 99-unit, Class A multifamily project located in a western suburban submarket of Omaha, a region that has experienced robust rent growth and nation-leading economic growth in recent years. The 6.04-acre site is a 10-minute drive from both I-80 and a proposed 1,000-acre retail, sports, and entertainment expansion to the Nebraska Crossing shopping center. Hubbell brings to the market a proven multifamily product design with a healthy balance of apartments, townhomes, and a full suite of resident amenities. The project is the first phase of an overall 286-unit community.
property
The Rye at Harrison
address
NW Corner of S 213th St & Harrison St
city, state
Omaha, NE
county
Douglas County
product type
Market-Rate, Multifamily
construction type
Wood Frame
site size
6.04 acres
construction start
Q3 - 2025
completion
Q4 - 2026
developer
Hubbell Development Services, LLC
general contractor
Hubbell Construction Services
management
Indigo Living
Cash-on-Cash (7-Year Stabilized Avg.)
IRR (10-Year Hold Period)
Equity Multiple with Sale Year 10
IRR (5-Year Hold Period)
Equity Multiple with Sale Year 5
From Highway 6
property
The Rye at Harrison
address
NW Corner of S 213th St & Harrison St
city, state
Omaha, NE
county
Douglas County
product type
Market-Rate, Multifamily
construction type
Wood Frame
units
99
Residential NRA
102,594
average unit size
1,036 SF
site size
6.04 acres
no. of stories
3
parking
230 total parking spaces
construction start
Q3 - 2025
completion
Q4 - 2026
developer
Hubbell Development Services, LLC
general contractor
Hubbell Construction Services
management
Indigo Living
North of Nebraska Crossing outlet mall
Northwest of Werner Park
West of Downtown Omaha
Cash-on-Cash (7-Year Stabilized Avg.)
IRR (10-Year Hold Period)
Equity Multiple with Sale Year 10
IRR (5-Year Hold Period)
Equity Multiple with Sale Year 5
From Highway 6
In March 2025, Costar Analytics reported that the Omaha metro leads the nation in year-over-year rent growth, with an average annual increase of 4.6% over the past three years — more than double the U.S. average of 2.1%. Costar projects that demand and supply-side factors will “likely keep rent growth historically strong across all quality segments and locations.”
Nebraska Crossing, an outlet mall located 6.4 miles south of The Rye’s location, has proposed a 1,000-acre retail, sports, and entertainment expansion that is expected to create a regional destination and attract “as many as 20 million annual visitors,” according to the Nebraska Examiner. The reported expansion would generate an estimated 40,000 new jobs for the area.
Thank you for your interest in partnering with Hubbell Realty Company. To learn more about Hubbell Realty Company, please fill out the information and we will be in touch with you.
*Project details are subject to change. All data current as of 12/31/24. This information does not constitute an offer to sell or a solicitation of an offer to buy securities. This information is not intended to be complete and final. The information on this website should not be relied on by anyone reading it as a basis for an investment decision and does not take into account the objectives, financial situation or needs of any potential investors. Investment opportunities offered by Hubbell Realty Company and any of its affiliates are limited to individuals who qualify as accredited investors as defined by U.S. Securities and Exchange Commission regulations. Any offer or sale of securities will be made only through a definitive agreement.
