Heartwood Preserve and Broadmoor Development Co. Complete Closing for 550 Class "A" Multifamily Homes on 14 Acres, as Heartwood Exceeds 70% Sales Mark

OMAHA, Neb., Nov. 16, 2021 /PRNewswire/ -- With Heartwood Preserve's closing on the sale of 14 acres to Broadmoor Development Company this past week, Heartwood Preserve, the multifaceted, mixed-use 500-acre Omaha development, exceeds the 70% sales mark for available property either under contract or sold. Among the largest urban projects of its type under construction in the US, Heartwood Preserve has attracted much buyer interest sparked by its careful observance of environmental and aesthetic values. Heartwood has created a sought-after mix of cultivated architectural, landscape and user enhancements that have become a model for projects that combine commercial, residential and retail uses. Featuring eight miles of trails and 80 acres of green space, Heartwood Preserve has also become a destination and a point of interest for visitors from the surrounding area.

According to Steve Menzies, Chairman of Applied Underwriters – developer of award winning Heartwood Preserve – Broadmoor's presence is especially gratifying as its plans reflect the design, experiential and philosophical approaches that characterize Heartwood Preserve: "In addition to the first class living opportunities Broadmoor will provide, the personal pride of Broadmoor's owners in the outcome of this development has given us great cause for optimism as we continue our sales and construction processes. From the land we have earmarked for sale, we have now sold or placed into contract more than 70%, and have surpassed our scheduled sales goals despite the pandemic."

Mr. Menzies greeted the Broadmoor signing with great enthusiasm, observing: "We view the realization of Heartwood as an extension of Applied Underwriters' good corporate citizenship and our corporate culture of service. Through Heartwood, we articulate in design and construction Applied's sense of responsibility to our neighbors and the environment we share." He continued: "Seeing this come together with responsible entities such as Broadmoor continues to prove the concept that underlies this plan, that is to serve and to benefit our neighbors in Heartwood and, we trust, all of our fellow Omaha residents. We welcome Broadmoor and look forward to supporting their success in Heartwood Preserve."

Broadmoor, a leading developer of multifamily housing, has purchased approximately 14 acres along Blossom Avenue near 144^th Street upon which they will develop 550 units in a new, upscale Class "A" multifamily community-centered housing consistent with the vision for Heartwood Preserve, according to Tom Fellman and Howard Kooper, co-founders of Broadmoor who issued this statement: "For Broadmoor, this is a special undertaking on many levels, from balanced capacity and dimensionality to important considerations of aesthetics. Our plan calls for four levels of apartments over two levels of enclosed parking, with high-end finishes on interior and exterior environments."

Broadmoor's founders continued further and stated that they view this as their "legacy project": "We love what we do and this project is a result of the many years of hard work from our entire Broadmoor family. We are especially enthusiastic and proud to be part of Heartwood Preserve. To the broader Omaha community, our apartment homes will bring a new level of architecture, design and brilliant finishes that will prove uniquely attractive. Broadmoor's devoted service to our Omaha neighbors for more than 50 years augurs the particular knowledge, in depth awareness of the area itself and a proven commitment to the harmony of Heartwood Preserve. With our pledge of exemplary service, the one, two and three bedroom apartment homes will provide more than a place to live, they will offer a carefree, better way to live."

Mr. Bart Emanuel, National Director of Development and Construction, Applied Underwriters, noted that overall construction continues apace and that several companies are operating in Heartwood: "We have been achieving great results as we move toward 100% sales, construction and occupancy. We are working now with Broadmoor to realize the start of construction on their buildings next summer."

For further information, contact: Ryan Gerding, Public Relations, at (913) 602-8531 or at press@heartwoodomaha.com.

About Heartwood Preserve (www.heartwoodomaha.com)

Located in Omaha, NE, Heartwood Preserve is a 500-acre mixed-use urban development with roughly 80 acres devoted to green space, eight miles of bike paths and open trails and over 10,000 newly planted trees. Offering a wide variety of retail, commercial, residential and recreational facilities on an environmentally observant landscape, Heartwood Preserve is designed to become a top destination for the greater Omaha area and surrounding region.

About Broadmoor Development Company (www.broadmoor.cc)

Broadmoor is a leading developer and manager of multifamily real estate. Its mission is the same today as it was when it first opened its doors 40 years ago – to provide the best apartment living for all its residents in communities that are developed and built with the finest amenities and highest quality standards. Broadmoor, now a family of 260+ members, owns and manages over 35 apartment communities in Omaha, Lincoln, and Bellevue in Nebraska, and Council Bluffs, Des Moines, and Sioux City in Iowa.

About Applied Underwriters (www.auw.com)

Applied Underwriters^® is a global risk services firm that helps businesses and people manage uncertainty through its business services, insurance and reinsurance solutions. As a company, Applied Underwriters has been distinguished by its innovative approaches to client care and by its strong financial strength. Applied Underwriters operates widely throughout the US, UK, EU and Middle East. Its operational headquarters is located in Omaha, Nebraska.

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SOURCE Applied Underwriters