NODO, LLC (on behalf of White Lotus Group): NODO - Orchard & Wilhelm Warehouse

ID

324

OrgName

NODO, LLC (on behalf of White Lotus Group)

PhysicalAddress

1113 Nicholas Street Omaha, NE 68102

MailingAddress

10404 Essex Court, Suite 101 Omaha, Nebraska 68114

Website

www.whitelotusgroup.com

SocialMediaAccounts

Name

Drew Sova

Title

Executive Vice President / General Counsel

EmailAddress

dsova@whitelotusgroup.com

Phone

+1 (402) 346-5550

Team

Yes

TeamExplanation

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)

OrganizationalChart

See attached.

OtherCompletedProjects

White Lotus Group, headquartered in Omaha, with office in a QCT, has been actively developing projects in North and South Omaha throughout our history. Projects of note include, but are not 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 philanthropic 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.

ProposalTitle

NODO - Orchard & Wilhelm Warehouse

TotalBudget

7188878.0

LB1024GrantFundingRequest

2872659.0

ProposalType

Capital project

BriefProposalSummary

NODO, LLC, which is wholly owned by White Lotus Group (“WLG”), is requesting an award of funds via the Omaha Economic Recovery Grant to complete its capital stack for renovation and development of the three-story building (the “Orchard & Wilhelm Warehouse”) at 1113 Nicholas Street in North Omaha. As a part of the Millwork Commons District, the Orchard and Wilhelm Warehouse sits in a developing neighborhood ripe with investment and growth, and the renovation and revitalization of the building to create flexible office space will add another component to this neighborhood’s success story. The Orchard & Wilhelm Warehouse, originally constructed in 1893, held no regular tenant and was in a state of disrepair when WLG acquired it two years ago. The exterior façade has been overlayed with stucco, covering up deteriorated masonry, while boards cover most windows. Inside, a load-bearing wall divides the center, but the floorplates themselves remain open. Per the Nicholas Street Historic District Nomination Form, the building maintains a fair amount of integrity for its age, and its loss would create a gap in the district. WLG has conducted necessary due diligence on the site, having previously commissioned/obtained an ALTA Survey and Phase I Report. As a part of our capital stack, we have begun the process to utilize federal and state historic tax credits by confirming the building contributes to the Nicholas Street Historic District, and engaging Alley Poyner Macchietto Architects to prepare design plans that will satisfy Part 2 of the HTC Application. Additionally, we’ve confirmed with the City this building sits within the CRA, making it eligible for Tax Increment Financing. With an award of the Omaha Economic Recovery Grant, our capital stack will be fully complete, and we’d expect to commence development immediately, with a 14-month construction period finishing in the first half of 2024.

Timeline

See attached “NODO (Orchard & Wilhelm Warehouse) – Construction Timeline”, but note project will be completed by April 1, 2024.

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) Policy (i.e., develop or improve context-sensitive education, finance, health, training, zoning, etc.) 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

We plan to renovate the Orchard & Wilhelm Warehouse into flexible commercial workspace, envisioning multiple set ups based on tenancy, including three floors of flexible office space. This project will serve a variety of the North Omaha community’s needs, including (1) investment in a structure that has been underutilized (with continued vacancy risking demolition), (2) continuing the redevelopment of the Millwork Commons District, running on a similar timeline to the new Dizzy Mule development, (3) providing affordable commercial space by utilizing ARPA funds to lower the all-in cost to build, (4) development of office space along a multi-modal transportation route, with Cuming Street to the south, Route 13 of the METRO line running just west of the building on 12th street, and the new Omaha Streetcar line ending three blocks to the south, and (5) providing office space and jobs directly to the North Omaha area.

VisioningWorkshopFindingsAlignment

1. Redevelopment of a culturally significant property by preserving the “Orchard & Wilhelm Warehouse” historic building, a structure originally built in 1893. Per the Nicholas Street Historic District designation, the building is contributing property to the district. Without redevelopment, the structure is likely to remain vacant and could risk demolition. 2. Proximity to workforce, attempting to assist no-car households via location of employment, and developing along Metro bus route. 3. Bringing flexible office space directly into North Omaha to generate jobs and workspace. 4. Marketing to the community, presenting office space in North Omaha with ease of location and flexibility to adapt to needs of business owner. 5. Costs of construction, using ARPA funds to lower overall investment of development, allowing for more flexible leasing opportunities.

PrioritiesAlignment

Leveraging ARPA funds to continue development into North Omaha without displacement, eliminating blighted structure which had become a visual eyesore and anchored an entire block of stagnant development. Instead of unappealing structure or future vacant land, historic rehabilitation of building will enhance safety of the area which includes The Mastercraft, Hello Apartments and the Ashton, further spurring connectivity between downtown Omaha and the North Omaha community.

EconomicImpact

The economic impact should not be simply weighted by the redevelopment project, but the affordability of the office space created by utilizing ARPA funds to lower overall investment into the project. See below:

EconomicImpactPermanentJobsCreated

80

EconomicImpactTemporaryJobsCreated

30

EconomicImpactWageLevels

$15-$50 per hour (construction jobs) / $20-$75 per house (permanent jobs)

EconomicImpactAlignProposedJobs

We will have an open competitive bidding process, for both General Contractor and Subcontractors, allowing for minority owned and local North Omaha contractors to bid and have a direct impact on the project.

CommunityBenefit

The development of the Orchard & Wilhelm Warehouse will mark another construction project for the Millwork Commons District. The surrounding district has seen The Mastercraft, Hello Apartments and the Ashton recently developed. Additionally, new construction is taking place across 12th street (to our west), with the Dizzy Mule project. We plan to rehabilitate the interior and exterior of the building to a standard that will qualify for federal and state historic tax credits. This will require substantial rehabilitation to the exterior façade of the building, including removal of the stucco facade, and refurbishment of the masonry walls. This office space will provide entrepreneurs from North Omaha a place to work, enhance their products/employees, and ultimately use those tools to further invest in/grow the community.

CommunityBenefitSustainability

We own the lot immediately adjacent to the east of the Orchard and Wilhelm Warehouse, as well as the two lots adjacent to 12th street to the west. Ownership of all lots will allow WLG to create nearly 2 blocks of updated streetscape, lit parking, and building renovation/development.

BestPracticesInnovation

Newly designed, flexible workspace to the North Omaha area. An example of adaptive use to a previously unused structure, highlighting how investment dollars can produce results.

OutcomeMeasurement

Enhancement of building in disrepair (interior and exterior). Enhancement of block through lighting/streetscape, displacement of trash and debris. Generation of North Omaha office / mixed use space, allowing for creativity in design driven by the users themselves. By keeping workspace in North Omaha, goal would be to attract employers in the area, who then themselves look to same community to bring in employees.

OutcomeMeasurementHow

Measurement of these benefits can occur through monitoring of building lease up, how many of tenants are startups, how many employees live in the area (measured by the Omaha chamber).

OutcomeMeasurementCoinvestment

Yes, we believe this project will prove further investment in the North Omaha area is warranted, either through development of vacant/underutilized land, or investment in North Omaha businesses.

Partnerships

Yes

PartnershipsOrgs

We plan to utilize our relationships with Metro Community College, Spark CDI, Provent Ventures, Charles Drew Health and Empowerment Network. All of these organizations are ones White Lotus Group has either worked with on other projects, or started the process of engaging for lease-up in this space.

PartnershipsMOU

Displacement

No

DisplacementExplanation

PhysicalLocation

1113 Nicholas Street, Omaha, NE 68102 Location of west of 11th street, east of 12th street, between Izard and Nicholas. On southeastern edge of Millwork Commons District.

QualifiedCensusTract

Adjacent to one or more QCTs

AdditionalLocationDocuments

We've uploaded Construction Bid, Construction Timeline, Financial Summary, Flexible Workspace narrative and site photos, National Register of Historic Places Nomination Form (Nicholas Street Historic District)

PropertyZoning

Yes

ConnectedToUtilities

ConnectedToUtilitiesConnected

Yes

ConnectedToUtilitiesUpgradesNeeded

Yes

DesignEstimatingBidding

No

DesignEstimatingBiddingPackageDeveloped

Yes

DesignEstimatingBiddingCostsDetermined

GeneralContractor

No

GeneralContractorPublicCompetitiveBid

GeneralContractorPublicCompetitiveBidWhyNot

RequestRationale

Please see attached proforma to showcase the value proposition.

GrantFundsUsage

Funds will be utilized to implement the substantial renovation of a structure which has been vacant for years, and is in a state of disrepair.

ProposalFinancialSustainability

Yes

ProposalFinancialSustainabilityOperations

Depending on how the program is implemented. Owner will expend funds on the renovation and generate monthly pay applications with General Contractor. We can either fund the costs up front through revolving loan (and ask for reimbursement), or make request for direct funding of costs.

FundingSources

Funding sources showing on attached "NODO (Orchard & Wilhelm Warehouse) - Financial Summary", and are finalized.

FundingSourcesPendingDecisions

They are finalized.

FundingSourcesCannotContinue

Yes, ARPA award.

Scalability

No, project is to be completed in one phase, renovation of the entire building.

ScalabilityComponents

FinancialCommitment

Organization will be investing $416,667 on the site, through acquisition (already occurred) and initial renovation costs.

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? Organizational Chart Plans and detailed descriptions, including pictures and a map of the site location/surrounding area Pro Forma Proposal Budget/Sources and Uses Schedule