Straightline Development: Novella

ID

137

OrgName

Straightline Development

PhysicalAddress

16255 Woodland Drive, Omaha, NE 68136

MailingAddress

Website

SocialMediaAccounts

Name

Jim Posey

Title

Member

EmailAddress

jimposey@cox.net

Phone

+1 (402) 660-9700

Team

Yes

TeamExplanation

Jim Posey - Member Melvin Sudbeck - Member Ryan Durant - LIHTC Consultant Jacob Starnes - Manager

OrganizationalChart

The developer/builder consists of Melvin Sudbeck and Jim Posey who have a combined experience of over 50 years in the development and construction industry. Melvin Sudbeck has been building homes and developing real estate in the Omaha metro and surrounding areas for over 25 years. Jim Posey is the owner of JDP property management and has been in property management for over 20 years

OtherCompletedProjects

Straightline Development is a new organization that strives to transform communities by providing high quality, sustainable, affordable housing. This proposal will help us provide affordable senior housing to an area that desperately needs it.

ProposalTitle

Novella

TotalBudget

36600000.0

LB1024GrantFundingRequest

9150000.0

ProposalType

Capital project

BriefProposalSummary

Novella Senior Living will be taking a vacated nursing home located at 4809 Redman Avenue in Omaha and repurposing it to new independent senior living apartments. It will be one building consisting of rehabbing the existing nursing home as well as a three-story addition for a total of 160 units on just over 5 acres. The new building will have 134,424 finished square feet. It will have a mix of 40 studios, 114 one beds and 6 two beds all at 60% AMI. All units will come with refrigerator, microwave, dishwasher, access to laundry and storm shelter. There will be a large community room with many other common areas for the residents to utilize plus three elevators. The owners will be providing all residents utilities with the rents plus free wi‐fi. This creating a very efficient and streamlined experience for the residents of Novella. The market study shows strong demand for affordable senior housing. This location has great visibility and its proximity to services including a bus stop will be very beneficial to residents.

Timeline

The project has completed engineering, architecture, mechanical, surveying, site borings, design. We are awaiting completion of our TIF application which can take up to 5 months and our permit from the city which can take up to 3 months. If awarded, we can begin construction within 6 months. The build time will take approximately 24 months.

PercentageCompletedByJuly2025

1.0

FundingGoals

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) 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)

Community Needs

Multimodal Transportation (i.e., enable connectivity through driving, biking, taking transit, walking, and rolling) Quality of Life (i.e., create or enhance natural spaces, mixed uses, parks, safety, etc.) Sustainable Community (i.e., create or enhance housing, services, education, civic uses, recreation, etc.)

OtherExplanation

ProposalDescriptionAndNeedsAlignment

Our proposal helps cater to the 55 and older community, specifically helping service lower income residents. It will help create transformational opportunities within the community as senior single residents occupying larger homes now have access to lower maintenance housing, which in turn creates more housing for younger families to backfill the currently under-utilized single family housing. Additionally, this site is located on a metro area transit bus line which provides effective transportation for our senior residents.

VisioningWorkshopFindingsAlignment

We are providing new construction housing made available to lower income senior households. Specifically located on a bus line.

PrioritiesAlignment

LB1024 places an emphasis on housing needs, assistance for small businesses, and business development within communities in Omaha's qualified census tracts. Our proposal provides much needed housing to senior residents in a QCT area while also providing short-term and long-term job creation for the area.

EconomicImpact

Temporary - 60 jobs over a 24 month time period at $33/hour Permanent - 25 jobs at $25-$28/hour

EconomicImpactPermanentJobsCreated

25

EconomicImpactTemporaryJobsCreated

60 over 24 months

EconomicImpactWageLevels

Temporary construction jobs: $33/hour Permanent jobs: $25-$28/hour

EconomicImpactAlignProposedJobs

We will be prioritizing small business partners and contractors within qualified census tracts to build long term relationships. This will create temporary and permanent jobs to further increase economic development and wealth creation within the community.

CommunityBenefit

Taking unused, vacant nursing home and it’s additional unutilized land and turning it into a productive asset in the form of livable housing that brings a vibrant new look to the area. This will provide additional tax revenue as well as 160 residential dwellings.

CommunityBenefitSustainability

Our proposal will contribute to community sustainability by being able to leverage the existing streets, sewers, & infrastructure to fully utilize the implementation of infill housing. Also able to further drive participation in metro area transit by being located directly next to the bus line.

BestPracticesInnovation

We plan to incorporate the best proven practices by building quality, energy efficient housing. This will include solar, which makes our project more environmentally sustainable. Innovative water collection for the ability to use recyclable water for community garden.

OutcomeMeasurement

We work heavily with the VA and the HUD/VASH programs in providing for safe and secure housing for a vulnerable population.

OutcomeMeasurementHow

These outcomes are measured by our staff and our productivity within the community.

OutcomeMeasurementCoinvestment

Yes, our project has the potential to create a tipping point that other developers will notice and bring the potential of millions of dollars in infill housing to the community.

Partnerships

Yes

PartnershipsOrgs

Prospective partnerships to include HUD/VASH, Omaha Housing Authority, Emmanuel Hospital and the PACE Program.

PartnershipsMOU

Displacement

No

DisplacementExplanation

PhysicalLocation

The physical address is 4809 Redman Avenue. The site consists of just over 5 acres of land with a vacant nursing home.

QualifiedCensusTract

Within one or more QCTs

AdditionalLocationDocuments

Our environmental assessment file is to large to upload (90MB). Please inform us on how to submit.

PropertyZoning

Yes

ConnectedToUtilities

ConnectedToUtilitiesConnected

Yes

ConnectedToUtilitiesUpgradesNeeded

Yes

DesignEstimatingBidding

Yes

DesignEstimatingBiddingPackageDeveloped

Yes

DesignEstimatingBiddingCostsDetermined

GeneralContractor

Yes

GeneralContractorPublicCompetitiveBid

Yes

GeneralContractorPublicCompetitiveBidWhyNot

RequestRationale

We are providing our proposal budget/sources and uses.

GrantFundsUsage

Funding Gap created by the COVID-19 pandemic & supply chain constraints. This proposal will allow our shovel ready project to begin construction.

ProposalFinancialSustainability

Yes

ProposalFinancialSustainabilityOperations

NIFA & 4% tax credits coupled with monthly rents will allow this project to achieve sustainability.

FundingSources

This project cannot continue without the LIHTC award of which we have not yet received an award.

FundingSourcesPendingDecisions

We expect to have a decision from NIFA in the first quarter of 2023.

FundingSourcesCannotContinue

This project cannot continue without the LIHTC award of which we have not yet received.

Scalability

No

ScalabilityComponents

FinancialCommitment

Our organization has purchased the site for $520,000 and the associated carrying costs of taxes and interest. Also an additional $725,000 in architecture, engineering, mechanical, surveying, site borings, design, etc.

ARPAComplianceAcknowledgment

1.0

ARPAReportingMonitoringProcessAck

1.0

LB1024FundingSourcesAck

1.0

PublicInformation

1.0

FileUploads

Additional Location Documents (see application for list) Data table of uses (breakdown of how the requested funds will be used for your proposal) Documentation of site control (proof of ownership, option, purchase contract, or long-term lease agreement) Environmental assessment of subject site. Is the property a brownfield site? Plans and detailed descriptions, including pictures and a map of the site location/surrounding area Pro Forma Proposal Budget/Sources and Uses Request Rationale Documentation