Anchor Pointe is a 110-unit, Class A multifamily rental project in Bennington, Nebraska, a rapidly growing suburban community northwest of Omaha with a premium school district. The 8.94-acre site is strategically positioned in a walkable location to the Anchor Pointe Elementary School and Flanagan Lake Park. The project is an excellent opportunity to deliver a proven product to the Omaha market with a rental community combining apartments, townhomes, and a full suite of amenities.
property
Anchor Pointe
address
NW Corner of Ida Street & N 168th Street
city, state
Bennington, NE
county
Douglas County
product type
Market-Rate, Multifamily
construction type
Wood Frame
site size
8.94 acres
construction start
Q3 - 2024
completion
Q2 - 2026
developer
Hubbell Development, 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 (4-Year Hold Period)
Equity Multiple with Sale Year 4
From Highway 64
property
Anchor Pointe
address
NW Corner of Ida Street & N 168th Street
city, state
Bennington, NE
county
Douglas County
product type
Market-Rate, Multifamily
construction type
Wood Frame
units
110
residential nra
127,270 SF
average unit size
1,157 SF
site size
8.94 acres
no. of stories
3
parking
220 total parking spaces
construction start
Q3 - 2024
completion
Q2 - 2026
developer
Hubbell Development, LLC
general contractor
Hubbell Construction Services
management
Indigo Living
East of Flanagan Lake
Northwest of University of Nebraska Omaha
Northwest of Downtown Omaha
Cash-on-Cash (7-Year Stabilized Avg.)
IRR (10-Year Hold Period)
Equity Multiple with Sale Year 10
IRR (4-Year Hold Period)
Equity Multiple with Sale Year 4
From Highway 64
Costar Analytics reported that “rapidly rising interest rates and recession fears have not stopped Omaha, Nebraska’s multifamily market from posting a historic performance this year, leading all major U.S. markets in annual rent growth each quarter for the first time on record.”
In response to rapid growth in the area, the Bennington School District has proposed the construction of a new $119-million high school. The bond issue vote is scheduled in March. The new school would be located just over 2 miles north of the Anchor Pointe site.
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.