Blackstone Development Group: Redevelopment for the subject location

ID

46

OrgName

Blackstone Development Group

PhysicalAddress

3555 Farnam / 3501 Farnam Census Tract 24 Omaha, NE 68131

MailingAddress

450 Regency Parkway Suite 200 Omaha, NE 68114

Website

blackstoneplaza.com lundco.com

SocialMediaAccounts

Name

John Lund

Title

Managing General Partner, Blackstone Development Group

EmailAddress

john.lund@lundco.com

Phone

+1 (402) 548-4011

Team

No

TeamExplanation

OrganizationalChart

OtherCompletedProjects

Please refer to lundco.com for an overview of completed projects.

ProposalTitle

Redevelopment for the subject location

TotalBudget

45000000.0

LB1024GrantFundingRequest

45000000.0

ProposalType

Combination of capital project and service/program

BriefProposalSummary

Our goal would be to continue to develop the subject properties located at 3555 Farnam and 3501 Farnam and to further energize and recharge the neighborhood by meeting the criteria of LB 1024 within the outlined timeline.

Timeline

This project will be completed within 36 months of the start date which will be 2023 thru 2026.

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) 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)

Community Needs

Multimodal Transportation (i.e., enable connectivity through driving, biking, taking transit, walking, and rolling) Other Infrastructure (i.e., develop or improve broadband, business districts, roadways, sewer, etc.) 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

TBD

VisioningWorkshopFindingsAlignment

Provides the following: jobs and resources, office space, safe connectivity, commercial and retail business

PrioritiesAlignment

TBD

EconomicImpact

TBD

EconomicImpactPermanentJobsCreated

TBD

EconomicImpactTemporaryJobsCreated

TBD

EconomicImpactWageLevels

multi-level job wages

EconomicImpactAlignProposedJobs

The development will spur job and contractor opportunities within the development.

CommunityBenefit

It will provide retail and office activity, along with housing opportunities which will improve and energize the community.

CommunityBenefitSustainability

We are creating a space where people can live, work and recreate safely.

BestPracticesInnovation

We will be on the cutting edge of our development concepts that will contribute to the community sustainability.

OutcomeMeasurement

TBD

OutcomeMeasurementHow

TBD

OutcomeMeasurementCoinvestment

We are already invested in the neighborhood, and this will compliment what we have already accomplished.

Partnerships

No

PartnershipsOrgs

PartnershipsMOU

Displacement

No

DisplacementExplanation

PhysicalLocation

3555 Farnam 3501 Farnam

QualifiedCensusTract

Within one or more QCTs

AdditionalLocationDocuments

PropertyZoning

Yes

ConnectedToUtilities

ConnectedToUtilitiesConnected

Yes

ConnectedToUtilitiesUpgradesNeeded

No

DesignEstimatingBidding

No

DesignEstimatingBiddingPackageDeveloped

No

DesignEstimatingBiddingCostsDetermined

estimated

GeneralContractor

No

GeneralContractorPublicCompetitiveBid

GeneralContractorPublicCompetitiveBidWhyNot

RequestRationale

GrantFundsUsage

It would cover the construction costs of the project.

ProposalFinancialSustainability

Yes

ProposalFinancialSustainabilityOperations

FundingSources

FundingSourcesPendingDecisions

FundingSourcesCannotContinue

No

Scalability

Yes

ScalabilityComponents

Right size the project based on funding available.

FinancialCommitment

The organization is financially committed to the proposal.

ARPAComplianceAcknowledgment

1.0

ARPAReportingMonitoringProcessAck

1.0

LB1024FundingSourcesAck

1.0

PublicInformation

1.0

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