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Solica℥, LLC & Julius Davis Investments
2611 Florence Blvd Omaha, NE 68110
Nadra L. Davis
Owner & VP
nldavis@daviscontractingllc.org
+1 (402) 913-8658
Yes
Julius Davis – Owner of Julius Davis Investments and commercial and residential General contractor. Julius Davis Investments has a commercial/multifamily real estate portfolio with a net worth of 2.5million. Julius navigated all aspects of finding income properties and calculating NOI, CAP rates, and PRO Forma. Julius also owns and operates a general contracting business where he has overseen multiple remodels, additions, and new builds. His company is currently building a single-family home for 75North located at 2907 Parker Street. Nadra Davis – Owner of Solica℥ and Vice President of Julius Davis Investments. Nadra Davis has developed and manages a multifamily and commercial real estate portfolio worth 2.5million for Julius Davis Investments. Nadra is a key player in the development process and portfolio management, increasing cash flow of the current assets by 52 percent. Her background in finance and compliance is key for staying in compliance with grant funding guidelines, quarterly and annual reporting submission and tracking and submitting financial to the finance and accounting team and lenders.
Our team has successfully acquired and developed several multifamily properties within the last two years, we have over 10 years’ experience with development and construction. We are in progress of building a low-income single-family home for Seventy-Five North Revitalization Corp. and have completed multiple home additions and remodels for clients in multiple Nebraska and Iowa counties.
19th & Corby Revitalization Development
8500000.0
7500000.0
Capital project
Our proposal is to create sustainable safe affordable middle- and low-income housing in the Sherwoods and Pruyn’s Subdivision. The development project will align with existing homes and multifamily units in the area connecting already established multi-unit communities Shannon Height Senior Town Homes, Habitat for Humanity Single family homes, and Holly Name single family homes that are currently under construction. There is a growing need for safe affordable housing in the designated development area. Our development is in an Extremely Blighted Community Redevelopment Area, which will greatly improve the designation status. The development will utilize Section 3 contractors and create over 50 construction positions ranging from laborers to superintendents. The new housing development will bring displaced middle- and low-income home buyers and renters back to the community, development will consist of three (2bedroom, 1.5bath) duplexes, two (2bedroom, 2bath) duplexes, and three (3bedroom, 2.5bath) triplexes for a total of 19 single family residences. Each unit will be available for sale as town homes or for rent. This development will also improve green space areas by way of shared courtyard, and small garden area across the street revamping another empty lot. The development will be in the QCTs outlined by LB1024 and is projected to be completed within the outlined timeframe. Adherence to all federal, state and city regulations and process can be met and have been considered. The likelihood of success is 100% probable with requested funding. The development will create at minimum 50 temporary trades jobs with wages ranging from $19 to $29 dollars an hour. The overall economic impact of this development will be beautification of the area by revitalizing an area that is currently a known eyesores due to constant dumping of garbage, furniture, and abandoned cars this site is typically overgrown and unkept. This project will create a flourishing landscape free of debris. The recent Public Engagement Survey for the North Omaha Community identified Housing as a need that must happen to see real transformational change and long-term economic success. The Survey identifies “Uses” Sustainable Community at 40%, this proposal aligns with what the community wants and needs.
The timeline for the development for the buildings to be in service is 2years; this estimate is considering potential delays due to weather or material procurement issues; the estimated completion date is April 2025. However, the development schedule proposed is laid out as follows: land acquisition has started, with an estimated 6-7months time frame for land to be purchased from the city; mid-April 2023. We will then start the land development phase which will take approximately 3months; July 2023. Site work will begin, and foundation will be poured July 2023 as well. Building construction will commence in August and continue for at least 9months; mid-May 2024. All final work trim, appliance and fixtures and landscaping are estimated to be complete by September 2024.
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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)
Sustainable Community (i.e., create or enhance housing, services, education, civic uses, recreation, etc.)
Our goals with this development are to improve a neighborhood that has had continuous issues with illegal dumping and gathering of individuals who congregate on the vacant lots to use drugs and alcohol. The new single-family homes will greatly improve the area and increase the appeal for mixed income renters and homebuyers to purchase in the area. We are vested in the community and want to make a positive impact by addressing a block that is currently an eyesore and dumping problem to the community and turn it into thriving sustainable neighborhood with new housing plans to refresh the area and enhance the housing market in the area.
Our proposal is to create sustainable safe affordable middle- and low-income housing in the Sherwoods and Pruyn’s Subdivision. The recent Public Engagement Survey for the North Omaha Community identified Housing as a need that must happen to see real transformational change and long-term economic success. The Survey identifies “Uses” Sustainable Community at 40%, this proposal aligns with what the community wants and needs. (Appendix 0.A)
This proposal aligns with LB1024 strategic priorities, by creating new housing for middle income homebuyers and low-income renters in an area that has experienced generations of social and economic challenges due to racial segregation and redlining. The area to be developed is located in a QCT.
The development will create at minimum 50 temporary trades jobs with wages ranging from $19 to $29 dollars an hour.
0
50
$19.00 to $29.00 an hour
The development project will utilize section 3 contractors to complete the required site work and construction of the housing units.
Our goals with this development are to improve a neighborhood that has had continuous issues with illegal dumping and gathering of individuals who congregate on the vacant lots to use drugs and alcohol. The new single-family homes will greatly improve the area and increase the appeal for mixed income renters and homebuyers to purchase in the area. We are vested in the community and want to make a positive impact by addressing a block that is currently an eyesore and dumping problem to the community and turn it into thriving sustainable neighborhood with new housing plans to refresh the area and enhance the housing market in the area.
This development will improve the quality of life for families that would be displaced due to not having affordable housing to rent in the area. It will also have a generational impact for the middle-income home buyers that will be able to purchase newly built homes in a sustainable community.
The build will bring new Triplex and Duplex (town home styles) to the area.
The development areas green space will be a positive change in the neighborhood. Bringing more families with children to the area.
Contact neighborhood associations for the area and going to the association meetings to get feedback from the local residents
Yes
We will be partnering with Spark to utilize their Spark Capital, and Middle-Income Workforce Housing funding. Along with applying for city and government grants (TIF, LIHTC, and AHTC), we will be applying for HUD/HTF (Housing Trust Fund), and Front Porch.
LOI submitted for QCT Affordable Housing Program
No
The physical location for this development will be the Eastern block of Sherwoods and Pruyn’s Subdivision Addresses 1902 Ohio St., 1904 Ohio St., 1908 Ohio St., 1910 Ohio Street, 2607 N. 19th Ave., 2611 N. 19th Ave. 2615 N. 19th Ave., 2619 N. 19th Ave., 2623 N. 19th Ave, 2624 N.19th St. 2612 N. 19th St. (Appendix A)
Within one or more QCTs
All will be submitted at end of form (Appendix A-E)
Yes
Yes
No
Yes
Yes
Yes
No
The general contractor selected is a registered Section 3 Business and will be using other Section 3 Business as sub-contractors on this project
Budget is attached for request rational. (Appendix E)
LB1024 grant funds will be utilized to pay for construction costs, professional fees, soft cost, and a portion of the development reserves.
Yes
The development team operates on a fiscal calendar year starting January 1st and ending December 31st. All finances will be tracked in our accounting software (QuickBooks Online) and reviewed by our accounting firm at years end. We are prepared to have an auditor review this projects finances as needed and/or required, along with all grants required reporting as well.
We will be partnering with Spark to utilize their Spark Capital, and Middle-Income Workforce Housing funding. Along with applying for city and government grants and credits (TIF, LIHTC, and AHTC), we will be applying for HUD/HTF (Housing Trust Fund), and Front Porch. We will also be applying for the Metropolitan QCT Affordable Housing Program grant. Our team will be utilizing private funding from the developer and investor along with bank financing via construction loan.
The funds requested in this proposal have been reviewed and meticulously thought out, all funds are needed to complete this development project.
Our team will be utilizing private funding from the developer and investor along with bank financing via construction loan to purchase the land and assist with the budget.
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1.0
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1.0
Additional Location Documents (see application for list) Documentation of site control (proof of ownership, option, purchase contract, or long-term lease agreement) 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 Schedule