48 dodge opportunity Zone fund

Property Highlights

In partnership with Access Commercial and Burlington Capital, Sower Commercial’s 48 Dodge Opportunity Zone Fund is a 329-unit, highly amenitized, Class A, multifamily project in the heart of Omaha. Comprising approximately 2.75 acres at 48th & Dodge, this project’s  immediate proximity to strong demand drivers makes the location irreplaceable in the Omaha market.

Situated between the popular Dundee and Blackstone neighborhoods, just blocks from the University of Nebraska Medical Center (UNMC) campus, mere steps from the proposed UNMC Administration Tower, and minutes from the Central Business District (CBD), the Project is well situated to meet the needs of residents of all types.

Committed to embracing the history of the area, the development team is proud to be preserving the historic Pittman Veterinary building as the front door of the Project. The Pittman will house the project’s leasing and management office as well as amenity space for

To serve residents of the 329 units, the project will include a fitness center with yoga and group fitness studio, dedicated work from home facilities, a large community lounge, a theater and media room, an outdoor dog run, and a resort style outdoor pool.

Investment Highlights

qualified opportunity fund structure

Project site is in a Qualified Opportunity Zone (QOZ). There are potential tax advantages when investing realized capital gains. 

  • Defer capital gains on Invested Capital to 2026
  • Upon completion Investors benefit from accelerated depreciation
  • Upon Stabilization in 2025, cash out HUD or equivalent permanent financing to provide tax free liquidity event to pay deferred tax liability
  • Any Capital Gain as the result of property sale after 10 years is avoided

GP Contribution

  • GP awarded $9.4M in Tax Increment Financing proceeds
  • GP to invest proceeds for 20% Capital Contribution
  • Excess proceeds will be withheld and paid to GP as development incentive

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