We are seeking an initial investment of 1 million dollars for the seed round which will give the investor (s) a 20 percent interest in the venture. There will be a subsequent equity round following the completion of entitlements to secure the development financing.
The land is under contract, and the project has received approval from the planning and zoning committee for a rezone and annexation and is in the negotiation stage for the formation of a 47-million-dollar PID bond.
The project master plan is unique in that it creates a series of neighborhoods that target complementary yet different typologies that are intended to target specific market segments. They can be adjusted as the market requires. The first phase of the project is anticipated to be a cottage-style release of small homes ranging in size from 1000-1400 square feet targeted at seniors and working couples. The sponsors intend to go vertical with this component and sell completed parcels to sub-developers and builders in two phases. A boutique hotel is planned for inclusion in the second phase. This will likely be executed as a joint venture in order to maximize value creation from the sale of hotel-branded and services residences.
Development team has significant domestic & international experience in larger scale development projects.
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