We have a Historic Real Estate Rehab Multifamily - JV opportunity in Edgefield SC. It has all approvals and tax credits eligibility. Shovel ready. We are looking for an Equity partner. .Requires about $3 million. Sources could include Workforce Housing Bonds namely JEDA Bonds.
This is a project in progress valued at about $3.1 million for the historic Mill and the 22 acres and you can purchase it AS IS shovel and construction permit ready with approvals, (After tax credits at completion of projects you will get about $650K of this in credits so it will cost net $2.3 MN)
Project consists of 22 acres including to say about 114,000 sf of historic lofts re-development (see video) - zoned for 100 unit MF- estimated cost $27.5 million project including $3.5 million in Development Fee income.
Additional 25% upshot for future ground up developments under Footprint rule: ( more analysis needed)
The future ground up phases on the land are entitled with 25% Mill credits which we can help you get. This is a major cash upshot in this development.
Call Center and other commercial uses Concept:
COMMERCIAL VENTURE OPTION
Exploring the building's potential, we're also considering a dual-purpose approach: it can serve as a call center or accommodate various other commercial uses. With its readiness for quick occupancy and existing infrastructure, the space is primed for either option. Leveraging this flexibility, we aim to cater to the demand for customer service solutions while also offering opportunities for diverse commercial ventures, appealing to a wide range of tenants and revenue streams.
CFO, Guru will be glad to explain it over a call. Please call 773-919-8075 or email(guru@dubingurugroup.com).