180
801S16, LLC
801 South 16th Street Omaha, NE 68108
10404 Essex Court, Suite 101 Omaha, NE 68114
none
none
Andrea Macias
Development Coordinator
amacias@whitelotusgroup.com
+1 (402) 408-0005
Yes
Andrea Macias, Development Coordinator - 10 years, Alex Bullington, Project Manager , 7 years, Eric Wolfe, AIA/Designer (30 years), Howard Shrier, Lund Company, 15 years, Zak Olsen Ronco Construction, Melissa Gengler, Historic Consultant (20 years), AJ Campbell, Architect HBA, 20 years
see attached.
Historic Revitalizations: Hotel Deco - 89 Room Boutique Hotel Turner Court Apts - 48 unit multifamily project 1401 Jones - Omaha Public Library Project Colonial Hotel - apartment conversion, Blackstone District Liberty Campus - Grand Island Veterans Campus
801 S. 16th
5918874.0
1500000.0
Capital project
801S16, LLC is wholly owned by DANA Partnership, LLP (dba White Lotus Group), and involves a 55,000 sf former automotive dealership building that was purchased 5 years ago. The Project, located adjacent to a QCT, is at 801 South 16th Street, or 15th and Leavenworth. Its existing use has been as a thrift store and dog daycare facility. Being located on Leavenworth, the property offers great accessibility to people interfacing with the site. Current bus routes and walkability options connect this location with the rest of the Old Market and downtown Omaha. Given its historic and existing uses, there are environmental challenges with demolition, and its neighbor's diesel engine business has caused the site to deemed a brownfield site. We are seeking the assistance of ARPA to afford to have the existing thrift store relocate to a more fitting location, allowing this project to maximize its full potential. The redevelopment would reinvigorate the top level built along the street entry and provide for 65 underground stalls which could be used by the City of OMaha for the new public library less than .25 miles from the site.
See Attached Schedule
1.0
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)
Multimodal Transportation (i.e., enable connectivity through driving, biking, taking transit, walking, and rolling)
Needs to densify major and minor arterial road opportunities enhance utilization of our multimodal transportation offerings. Taking an underutilized structure, and rehabilitating it for better use aligns with improving the qualify of life for area residents and enhancing investment in environmentally challenged areas.
Creating More business opportunities Developing more tech and creative spaces and evolving startup ecosystems in Omaha. Increasing density where possible
Upcycling 801 South 16th should increase employment in the area It will increase investment in neighboring, under utilized assets It will improve safety both from environmental challenges as well as personal
40
40
30
$20 per hour to $75 per hour
WE would implement a 5% project set aside for minority and disadvantaged subcontractors
Leavenworth serves as a connector from East and West on the south side, and increased upcycling of structures improves safety, qualify of living and investment.
The building is obsolete relative to today's standards, and making an investment to move the thrift store and bring in creative / tech office space would boost employment, jobs, and economics to the area.
We have used global Mechanical Plumbing and Electrical engineers to evaluate and upgrade historical structures to well above code required standards. Our goal would be to employ that standrad to this project.
Job Creation, Property Tax Valuations, Co-investment in the area.
Economic Development (City of Omaha) - Invested Capital, Jobs Created, Sales Tax Revenue, Property Tax Revenue.
Yes, it should encourage additional investment along Leavenworth and the south side of the old market.
No
Yes
We would move the existing thrift store; however, that move has been planned and would not negatively affect the business.
801 South 16th Street, Omaha, NE 68108 South side between 15th and 16th and Leavenworth
Adjacent to one or more QCTs
see attached
Yes
Yes
No
No
No
Comparable project being managed current with .25 miles from site (1401 Jones)
No
The cost to upgrade and improve an existing structure to better reflect the goals of the city and program can only be done through a soft souce (ie. ARPA).
The funds would be used to subsidize the design, historic consulting and rehabilitation of teh structure.
Yes
Our firm has a CPA/Controller that works with our engineering and construction management staff. Upon updating engineering with city of omaha public works approvals and bonding, a general construction contract alongside engineering and marketing fees defined, we would see to submit payment applications with associated lien waivers (approved by 3rd party engineer) for payment or reimbursement. That would continue until final pay application and payment.
We believe that federal historic tax credit equity could be used to augment. We would avoid TIF, but also utilize Valuation Incentive Program (capping property taxes for an 8 year period).
We can achieve historic tax credit approval by 1Q23. Debt/Equity are already sourced, and the VIP program can be admitted upon qualifying as a historic revitalization project.
no.
no.
We would be providing the equity in the building and securing additional debt to bridge the historic tax credit equity and capital necessary to move the existing tenant and rehabilitate the building. We estimate ownership capital risk at over 3.5MM
1.0
1.0
1.0
1.0
Additional Location Documents (see application for list) Documentation of site control (proof of ownership, option, purchase contract, or long-term lease agreement) Organizational Chart Pro Forma Proposal Budget/Sources and Uses Schedule