Affordable Housing Solution

[Ryan Cadwell]

Investment Info:

Small multi-family (2-4 units) other investment in Martins Ferry.

Current Construction Co. and Resolute RDM have acquired this development project in Lebanon, MO. In agreement with the City of Lebanon, we will redevelop ~35 acres into 242 lots for ranch-floorplan duplexes and SFRs, available for purchase by retail and investment buyers.

What made you interested in investing in this type of deal?

We have been working in the affordable housing space for some time, and this allowed us to partner with the local community and provide a housing solution they need as their city continues to expand with new jobs they are successfully bringing to town.

How did you find this deal and how did you negotiate it?

Worked with previous partnerships that have been cultivated over the years.

How did you finance this deal?

Local lenders and partnerships.

How did you add value to the deal?

Appraisal

Lessons learned? Challenges?

These kinds of deals take time to develop. Continually communicate clearly with all parties involved to make sure that expectations are as close to realistic timelines as possible.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, Evan Conner has been an excellent source for us in the Ozarks area of Missouri.