The BLAST Observatory is a proposed super-pressure balloon-borne polarimeter designed for a future ultra- long duration balloon campaign from Wanaka, New Zealand. To maximize scientific output while staying within the stringent super-pressure weight envelope, BLAST will feature new 1.8m off-axis optical system contained within a lightweight monocoque structure gondola. The payload will incorporate a 300 L 4He cryogenic receiver which will cool 8,274 microwave kinetic inductance detectors (MKIDs) to 100mK through the use of an adiabatic demagnetization refrigerator (ADR) in combination with a 3He sorption refrigerator all backed by a liquid helium pumped pot operating at 2 K. The detector readout utilizes a new Xilinx RFSOC-based system which will run the next-generation of the BLAST-TNG KIDPy software. With this instrument we aim to answer outstanding questions about dust dynamics as well as provide community access to the polarized submillimeter sky made possible by high-altitude observing unrestricted by atmospheric transmission. The BLAST Observatory is designed for a minimum 31-day flight of which 70% will be dedicated to observations for BLAST scientific goals and the remaining 30% will be open to proposals from the wider astronomical community through a shared-risk proposals program.