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White Lotus Group
4606 N 56 ST OMAHA NE 68104
10404 Essex Court, Suite 101 Omaha, Nebraska 68114
www.whitelotusgroup.com
Andrea Macias
Developer Coordinator
amacias@whitelotusgroup.com
+1 (402) 408-0005
Yes
Arun Agarwal (CEO), Drew Sova (EVP/General Counsel), Eric Wolfe (Architect/Construction Manager), Andrea Macias (Dev Coordiator), Darienne Pokorny (Controller/Auditor/CPA), Crystal Cantrell (REgional Prop Mgr), Shawn Johnson (SVP - Ops)
see attached
White Lotus Group, headquartered in Omaha, with offices in QCT, has been actively developing projects in North and South Omaha throughout our history. Projects that may be of note include, but limited to: 30 Metro Place, Prairie Springs, Turner Court Apartments, 1401 Jones (new public library), RTG Medical (NMTC - corp HQ in Fremont), Hotel Deco, Ames Plaza, Ames Innovation, Ames Rows, Learning Community of South Omaha, Blackstone, Baxter Auto, Nebraska Realty. Recent Awards: State of Nebraska DHHS, DMV and Veterans Campus in GI. Accomplishments include approximately $100MM of investments in north omaha with no philanthropy awards. Over 500 units of affordable housing totaling housing for nearly 2000 people. We have aided in over 1,000 jobs created or positions earned since inception within Omaha alone.
Ames Co-Working Space
2971500.0
1110000.0
Capital project
4606N56 LLC, which is wholly owned by White Lotus Group (“WLG”), is requesting an award of funds via the Omaha Economic Recovery Grant to subsidize the construction project to create a modern co-work environment in North Omaha that would foster collaboration among various small businesses, organizations, and networking events. We understand how difficult it is to start up a new business or grow it and want to provide a flexible office space option in this area of the City. The project assistance is needed to subside construction costs and be able to rent out an office for a cost-effective rate for the community, supporting the entrepreneurship and small business ecosystem. If awarded, ownership will earmark a ten (50%) goal of subcontractors that are minority-owned or disadvantaged.
If the funds are approved, the coworking can be in service by the fall of 2023.
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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)
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.)
This building was once the old Ames Bowling Alley in North Omaha(Address); it currently houses the state of Nebraska DMV express but has roughly 17,000 square feet available for the Co-working space. This area of the building has the core and shell updated and ready for the next chapter. We envision like-minded companies with similar-sized teams calling the Ames Innovation Center their ‘home base’ and sharing overhead to create a higher-paying work environment for the local community. Those small businesses could be local companies looking to expand or national businesses looking to open a new North Omaha-based operation. According to North Omaha SWOT Analysis, this project will increase the currently poor inventory of offices in QCT of North Omaha (0.8% of land use is offices in NO). It will also allow between 100-150 new employees to work from the area, contributing to this side of the city's economic development.
1). Deficiency of offices in the area 2). Proximity between workspace to housing 3). Easy access to public transportation (0.2 miles to the bus station) 4). Increase Economic Investment in the area; this was a weakness identified in the workshop. 5). This will be a space to facilitate the development of educational sessions for black business owners and networking events
Accessible workspace while creating opportunities for small and disadvantaged businesses to be part of the solution to the neighborhood. Improving the office inventory will improve service businesses in the area. Encourages additional investment in area
The economic impact should not be simply weighed by the construction project, but the access provided for those business owners and workforce within the area Lastly, the set aside of 50% for minority and disadvantaged businesses allows community members to be a part of the solution and ideally enhance their own economics. 65 permanent+ 25 temporaries during construction 90*20$/hrs average 2.6 Million in revenue approx per year generated in North Omaha
65= 5 permanent new jobs would be created for management+ potentially 60 relocated from other areas of the city working in their neighborhood
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20
We are aiming to create a set aside of 50% for minority and disadvantaged businesses
There are many community benefits. The project is located in a QCT and visible from Ames Avenue. The investment will encourage additional redevelopment projects and investment in the area and encourage more workforce to live where jobs are.
Co-working spaces are cost-effective and affordable. They give small businesses the opportunity to be in a professional independent environment, connect with other small businesses, and collaborate at a lower cost than a traditional office.
Creating more workspace for employees to work within the neighborhood in which they live.
This would be measured by available commercial space (market data is measured by city), employees living in the area (measured by the chamber of commerce)
No
No
Ames Innovation, 4606 N 56 ST OMAHA NE 68104
Within one or more QCTs
Yes
Yes
No
Yes
Yes
Yes
Funds will be utilized to implement the construction project and get the furniture necessary
Yes
Traditional Debt and Equity plus ARPA are the only funds anticipated
No
See Sources and Uses of Funds. Organization will commit $321K of equity plus guaranty $1,5M of Debt.
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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