108
TERENCE CRAWFORD
3169 LARIMORE AVE. OMAHA, NEBRASKA 68111
2934 1/2 BEVERLY GLEN CIR #398 LOS ANGELES, CA 90077
WISEOWLPROPERTIES.COM
@TBUDCRAWFORD
MARK HABIBI
ADVISOR
MARKHABIBI@YAHOO.COM
+1 (310) 420-2896
Yes
TERENCE CRAWFORD (INVESTOR) MARK HABIBI (ADVISOR) DAVID JOHNSON (ARCHITECT) DICON COSTRUCTION (CONTRACTOR) LAMP RYNEARSON (CIVIL ENGINEER) ACCESS BANK (LENDER)
TERENCE CRAWFORD – RANKED #1 POUND FOR POUND BOXER IN THE WORLD. OWNS HUNDREDS OF SINGLE FAMILY AND MULTI-FAMILY UNITS IN THE OMAHA AND KC AREA. MARK HABIBI – LICENSED REAL ESTATE BROKER AND LICENSED GENERAL CONTRACTOR. OWNS AND OPERATES THOUSANDS OF SINGLE AND MULTI FAMILY UNITS ACROSS CALIFORNIA, KANSAS, MISSOURI AND NEBRASKA. HAS BUILT SEVERAL GROUND-UP AND MAJOR RENOVATIONS OF SINGLE AND MULTI-FAMILY HOUSING PROJECTS, INCLUDING SEVERAL CURRENT CONSTRUCTION PROJECTS IN OMAHA. STUDIO 951 (DAVID JOHNSON) – STUDIO 951 IS A RECOGNIZED LEADER IN MULTI-FAMILY AND MIXED-USE PROJECTS. THEY HAVE DESIGNED OVER 20,000 UNITS WITH CONSTRUCTION VALUE OF OVER 2.5 BILLION TO DATE. STUDIO 951’S OFFICES ARE BASED IN OMAHA AND LINCOLN, NEBRASKA. DICON CONSTRUCTION (PATRICK ) Dicon Corporation is a General Contracting and Construction Management firm headquarter in Omaha, Nebraska with extensive experience in the multi-family housing category. Since our founding in 1975, we have successfully constructed more than 2,000 multi-family housing units in Omaha and throughout the Midwest. LAMP RYNEARSON Lamp Rynearson is a client-centric firm that serves clients across the Midwest and Front Range with comprehensive engineering, surveying, landscape architect, planning, and aquatic design services.
PROJECTS IN OMAHA TERENCE CRAWFORD/MARK HABIBI CURRENTLY HAVE UNDER CONSTRUCTION; 3104-3110 STATE STREET (17 UNIT REMODEL) 617 S. 35TH STREET (24 UNIT REMODEL) 305 S. 16TH STREET (SECURITIES BUILDING - 35 UNITS/MIXED USE REMODEL) 3569 DAVENPORT AVE (23 UNIT REMODEL) 4813 UNDERWOOD AVE (24 UNIT REMODEL)
OOIC PROJECT
42000000.0
18000000.0
Combination of capital project and service/program I do not know
DEMOLISH EXISTING OOIC BUILDING AND BUILD A NEW MIXED USE PROJECT THAT THE RESIDENTS OF NORTH OMAHA CAN BE PROUD OF. PROJECT WILL CONSIST OF APPROXIMATELY 160 RESIDENTIAL UNITS WITH 9,000 SQUARE FEET GROUND FLOOR RETAIL/COMMERCIAL SPACES. CONSTRUCTION IS PROPOSED TO START 2/2024 AND BE COMPLETED 4/2026.
SEE TIMELINE AT END OF APPLICATION.
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Fundamental Change (i.e., a proposal that will continue to elevate North or South Omaha's presence and perception within the region, significantly improving the lives of area residents through physical development) Long-Lasting Economic Growth (i.e., a proposal that will foster gainful employment opportunities and financial investment in the area, leading to the creation of generational wealth and widespread economic vitality in North and South Omaha) Transformational (i.e., a proposal that will help energize, recharge, or spur significant and favorable advancements in North or South Omaha's function or appearance)
Multimodal Transportation (i.e., enable connectivity through driving, biking, taking transit, walking, and rolling) Sustainable Community (i.e., create or enhance housing, services, education, civic uses, recreation, etc.)
This project will take a nuisance to the community-an underutilized and long vacant OOIC building which will be demolished and transform the city block to 160 apartment units, 12 townhomes and 9,000 square feet of ground level retail which will create jobs for individuals that live within the qualified census tract. The project site is located along historic North 24th street and expands upon recent momentum and development along the corridor such as 24th and Lake, 24th and Cuming and the North 24th Street Business Improvement District’s Streetscape Master Plan. During the community workshops, a need was expressed to highlight and honor North Omaha heroes. This transformational project on a highly visible corridor owned by Terence “Bud” Crawford will be an additional jewel for the area. The proposal expands the number of black owned companies that will attract additional investment in North Omaha and supports recent quality development in proximity to the project site area.
This project meets several opportunities and needs identified in the Visioning Workshop for North Omaha . Alignment areas include leveraging vacant parcels, community ownership, replenishing aging inventory, and investments in workforce housing stock.
This project aligns with several priorities identified within LB1024 for North Omaha, including: - Responding to deepened existing disparities resulting from the disproportional effects of COVID-19 within low- and moderate-income and minority communities - Targeting resources within Qualified Census tracts geographically situated in North and South Omaha - Emphasis on targeting a portion of resources toward housing needs and wealth-building among minority populations effected by historical practices such as redlining
We anticipate permanent jobs to be created with respect to the management and maintenance of the new proposed structure. In addition, we anticipate hundreds of temporary jobs to be created through the course of construction by various contractors and sub contractors working to build the project.
25
200
We will pay regional competitive wages for all contractors and design professionals
It is a priority of this project to hire contractors located within the communities where these units will be constructed. Specifically, when building in North Omaha, we will seek North Omaha-based contractors.
The direct community benefit of this project will be threefold. First, the project will produce 160 below-market rate opportunities. The 12 townhomes will increase the diversity of housing typology along the corridor. Second, the ground level retail will expand economic opportunity for small and emerging business and create new economic activity for the North 24th street district. Being located on Line 24 of Metro Transit, this route is the systems most used route and has 15 minute frequencies-which will provide residents with easy access to jobs, human services, and educational needs.
In addition to the benefits listed above, this project will address the need for leveraging vacant properties, as identified in the Visioning Workshops. Revitalizing vacant properties results in increased tax basis for communities, stronger property values for neighboring homes, neighborhood beautification in the removal of unkempt lots, and oftentimes reduced crime activity Furthermore, investments in housing are correlated with increases in regional economic growth, as well as an increase in overall community health and well-being. As noted in the Affordable Housing Study: - $8 million in local income and 122 jobs are generated from every 100 units of affordable housing. - Families in affordable housing are able to spend five times more on healthcare, 30% more on quality food, and two times more on retirement savings.
High wage jobs could be created if a portion of the ground floor retail were to be positioned as office space, attracting high wage professionals.
those outcomes could be measured through income taxes paid to the city.
NO
No
No
Former OOIC building 2415 Corby Street
Within one or more QCTs
PLEASE SEE END OF DOCUMENT FOR PLANS, ETC
Yes
Yes
Yes
No
No
HIRED ANALYST
No
The $18M request allows for a developer profit of 20%, which is in line with the standard market rate.
LB1024 grant funds will specifically be used for development of 160 units at 60% of AMI, 12 townhomes and 9K square feet of ground floor retail. LB 1024 grant funds will specifically be used for development of 100 units (1-3 bedroom) at 60% AMI
Yes
Yes. After this initial investment, the revenue generated from renting the units will cover all expenses and debt payments.
SEE BUDGET ATTACHED
NONE TO DATE
NO
NO
MR CRAWFORD IS COMMITTED TO COMPLETING THIS PROJECT USING HIS OWN PERSONAL FUNDS ALONG WITH FUNDS FROM THIS GRANT AND OTHER SOURCES (SEE BUDGET). MR CRAWFORD HAS A DEEP PERSONAL CONNECTION WITH NORTH OMAHA AND IS DEDICATED TO IT'S SUCCESS.
1.0
1.0
1.0
1.0
Plans and detailed descriptions, including pictures and a map of the site location/surrounding area Proposal Budget/Sources and Uses Schedule