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Grace University to transform into apartments

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OMAHA, Ne (FOX42KPTM) - It's out with the old and in with the new. Grace University near the Old Market will soon become apartments. That news Friday now has a lot of neighbors talking.

The university still has properties off site that are in the process of being sold, but all parts of the campus that operated as a university are now spoken for. The site was scooped up by Urban Village Development, according to CBRE/MEGA Commercial Rel Estate. It was sold for more than $1 million.

Now, everything at Grace University must go. The items inside are now up for sale, which includes tables, chairs, clocks and the list goes on.

"You always hate to see that kind of institution go down," said Kevin Conrad, who lives near Grace University.

Once everything gets cleared out, renovation work will soon begin on what will become an apartment building . The plan is for the site to turn into multi-family housing. People living near the university heard the news by late Friday afternoon. In the last five years, they say development around the area has really taken off.

"And I don't see it stopping anytime soon," said Charlie Magnett, who lives near Grace University.

In the Little Italy neighborhood, it's where old meets new. Some historic buildings are still standing, but now there's the Blue Barn Theatre, a restaurant beside it and modern rowhouses have replaced where the Johnston Mortuary once stood.

"It's great to see all of the development coming down 10th Street," said Magnett.

When all is said and done, more than 100 apartments will be built at the Grace University site. First, the items inside the university must be cleared out. Anyone looking to buy them will have the opportunity to do so Saturday, June 23rd. A garage sale will happen between 8 A.M. and noon.

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