Seattle mixed use project.

[Chris Bown]

3120 Harvard Ave East (Seattle 98102) is a mixed use development project located in the Eastlake neighborhood of Seattle. There will be 2 commercial units and 15-16 residential units (Studios, 1 and 2 bed units). It is located approximately one quarter mile from the University of Washington. Currently the lot is vacant. There will be approximately 3000 square feet of commercial space and approximately 10,000 square feet of residential space.
The project had a Master Use Permit (City of Seattle) that has expired. There are 3 distinct advantages for the project to be permitted under the new zoning requirements.
1. The project is located in a “Frequent Transit” hub. This means, for the residential units, that parking is not required. This space that was used for parking will allow for 3 additional units. I will still provide parking for the commercial space as well as some for rent for the tenants.
2. The project is also in the Multifamily Tax Exempt zone (MFTE). This allows for an exemption on the Property Taxes for the residential portion of the building for 12 years.
3. The project sits in an overlay district. This means that the project will be pushed to the head of the line for permitting.
My plan is to take most of what was done during the previous MUP process and add in the new units and reconfigure some other units. However, one difference is that I would utilize a modular (factory built) construction method for the residential portion. I will use the services of Greenfab and their factory partner to facilitate that process. This will provide us some advantages:
1. Reduces the build time to 7-9 months. This allows for less disruption to the neighborhood, reduced carrying costs for the loan and a greater control of the build process.
2. This project will obtain LEED Platinum status. This will allow for a more efficient building.

[Diane Charles]

Chris,

What is the amount needed for funding?  What type of funding are you looking for? Do you have a Executive Summary and or Business Plan available?  I would like to learn more.  Please contact me at [e-mail].

Diane

 

[Chris Bown]

Diane I tried to email you and it keeps getting returned. Thoughts? Another email?

[Diane Charles]

Try [e-mail]

[Demetrius Simpson]

Hello Chris,

I hope all is well weith you.

How much capital are you seeking? What is your exit strategy?

Please feel free to correspond [e-mail] or 910-803-1869

 

[Ken Hall]

Chris,

Please send me some additional information on the project. My email is [e-mail]

I would be happy to review it and give you some feedback, quickly.

Thanks,
Ken

[jim flynn]

chris we may be able to help. how much are you asking for . how much do you have to add to project.

jim

flynn

[e-mail]

[Chris Bown]

To all of you that have replied.  I waited to reply as there was a question regarding the parking requirements.  I was at the City Department of Planning and Development today and cleared it all up. I have sent my findings to the Architect and await his reply confirming my thoughts.  Hopefully,  I will respond to each of you over the weekend.  Thanks for your interest. 

[Stephen Mitchell]

Chris

Please send me some additional information on the project.Executive Summary and or Business Plan available My email is [e-mail]

I would be happy to review it and give you some feedback, quickly

Thanks

Stephen

[Jonathan Casillas]

Will you pllease send me more info so that I may better help you. 

[Ron Coleman]

Chris were you able to get funding for your project? 

It is our goal to offer you a quick, transparent and professional experience along with the most efficient service to fund your project.  We provide 100% of borrower’s capital request in the form of debt, equity or a combination and allow all documented expense paid by the borrower to be stacked on top of the request funds.  We can offer a moratorium on payments until the project is stabilized and cash flowing if the timeline to completion is reasonable.  (Determined on a case-by-case basis)

 

To start we need a mutual NDA completed, executed and returned by all parties to the project.  Additionally, once we know the sector of the funding request i.e. Energy, Technology, Mining, Real Estate or Business we will provide a questionnaire that must be answered in detail and return which helps to access risk factors and determine our interest.   We are fully transparent and provide all the information for principal to make an intelligent decision on doing business with us.  If the project has merit with strong principal, a very good plan, the principal has liquidity to support the project until funding and are honest and cooperative we can get them through our in-house underwriting to funding.  Our rates based on the following indexes: Libor, Bond rate, 10-year Treasury or Prime depending on the project with terms of 3, 5, 7, 10 , 15 or 20 years.

 

Required Documentation: (for submission)

The following documents will be necessary to successfully underwrite and fund your project:

• Business Plan or Executive Summary with actual or proforma income statements 3 -5 years
• Balance Sheet/Financial Statement/Cash Flow/P & L with YTD less than 90 days old (if applicable)
• Copy of Appraisal or other valuation (if available)
• Expanded Resumes of all principals
• Line Item Detailed Use of Funds for short-term and long-term projections
• Proof of funds spent to date in the project and 2 month bank statements showing reserves
• Executed fee agreement

 

We will need the principal to show proof of funds invested to date in the project (if applicable), liquidity (cash in hand) to pay for third party expenses which includes a site visit, a need and necessity study (mini feasibility )along with legal and due diligence.  They will receive an expression of interest in writing from the lender along with lender contact and documentation for their due diligence.  My job is to get you through our in-house underwriting and to funding!  We believe that relationship is critical if we are to be successful with our business venture and without a good relationship we will not be a good financial partner. 

 

(The following remark is not intended to offend but stated because of so many request from those who believe that all cost can be paid from closing proceeds):

 “If there are no funds available to cover project cost and principals expects the lender to pay the necessary cost to determine if the project is lendable, close and fund the project and get their expenses from the loan proceeds then no one I know of can help you.”   I have 27 years experience in this industry and have never seen that happen with lenders in the US, Western Europe or anywhere else.

 

Ron Coleman

NEPCO, INC 

[e-mail]

nepcoinc1 -Skype

GLOBAL CONSORTIUM - FUNDING FOR PROJECTS AND ASSETS IN THE ENERGY, TECHNOLOGY, MINING, BUSINESS AND REAL ESTATE SECTORS

770-572-7765

[Arjen Smit]

Mr Chris Brown 

We actively invest and provide short, medium and long-term finance facilities to corporate and private borrowers globally who are able to clearly demonstrate viability and status. We boast extensive financial resources from our own and managed private funds and are therefore able to provide facilities specifically structured to generate far reaching financial solutions designed to stimulate business growth and maximize profitability.

Broker’s information:

If you are a  professional intermediary advisor Loan Brokers, Mortgage Brokers, Independent Financial Advisers, Insolvency Practitioners, Solicitors, Accountants, Lettings Agents, Estate Agents, Sole Traders or anyone else providing financial services and you have clients that would benefit from what our company offers we would like to hear from you.

Go to our Website B.J.Enterprises. http://www.bjenterprises.net  for Company information or e-mail [e-mail]

[D T Dewberry]

Chris have you secured your requested funding. We have a direct capital source in the Pacific NW that maybe your source of the capital you require. Please advise me as to your requirements: [e-mail]