Laserfiche WebLink
Project <br />Developer <br />Project Site <br />Constructs <br />Total Prai,qp.l <br />Funding Souici§�.,,. <br />CDBG D: <br />fyan <br />Construction lean <br />Historic PreserV4 <br />Owner Equity* <br />Total Project Cos <br />Exhibit B <br />CDBG Economic Development Loan Fund Project Profile <br />The Nest Retail & Office Property <br />The Nk4 R&44*,10ffice Proper <br />I 1 Madison Avenue <br />e <br />eptemb <br />510 <br />2023 (18 Months) <br />*Developer will receive a City of Lakewood Storefront Renovation grant in the amount of $50, 000 in the <br />form of reimbursementfor eligible expenditures. <br />Project Summary <br />The Nest Retail & Office Project, located in at 12501 Madison Avenue in the City's historic Birdtown <br />neighborhood, will transform the vacant, approximately 18,000sf, three-story former Bi-Rite building into <br />regionally competitive retail and office space. The approximately half acre site features 24 parking spaces, a rare <br />commodity in Birdtown. The property was purchased for $750,000 in October 2019 by developer Little Jemmy, <br />LLC. <br />