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Project Former St. James School Rehabilitation <br />Developer STJS Holdings, LLC <br />DBA, Oster Services, LLC and Oster Services Commercial, LLC <br />1387 Mathews Avenue <br />Lakewood, Ohio 44107 <br />Alexis Oster or Sean Nugent <br />Project Site 17514 Detroit Avenue <br />Construction Period September 2021— July 2022 <br />Total Project Costs $391051851 <br />Funding Sources Non-CDBG EDF Lo <br />*Private Equity & FJ <br />Total Project Costs.. <br />*Developer, will receive a <br />grant in then count of $So, <br />eligible exp i.ur-es <br />Project Summary: <br />The rehabilitation of the former James Scholl located at 1754 Detroit Avenue, will transform the <br />vacant, three-story former :catholic school buildin . x to 000 square feet of leasable, build to suit office <br />space, helping fulfill a slgairicant office need in the city In addition to becoming the new, expanded home <br />of Oster Services, the remainipg spaces are in the process of being leased, including the third floor to a <br />growing techn "'I ... ogy -company <br />Oster Services was ounded by Jess .and Alexis Oster and opened its office in Lakewood in 2012. The <br />company is known ' regionally for -high quality high end residential remodels and new construction. In <br />addition to the St. James Prc j ect Oster Services is active in Lakewood as the builder with Liberty <br />Development for the Marlowe: Park Townhomes. Currently, that same team is building the Bay Creek <br />Townhomes in Bay Village. <br />Jess and Alexis, since 2012, are also the owners of Grey Dog Diner on Detroit across from St. Edward's. <br />Oster Commercial is headed by Sean Nugent as a partnership with Jess and Alexis Oster. Founded in 2019 <br />this branch of the firm approaches commercial and institutional projects with the same commitment to high <br />quality and high finish. Two recent examples of OSC's success highlighted on the following page. <br />Preserving and converting this historic site from a vacant and abandoned building is a priority for the city. <br />The property is currently not producing any revenue for the City and is falling into disrepair. The building <br />requires approximately $3,105,851 in rehabilitation costs to adaptively repurpose the historic designated <br />Page 18 of 30 <br />