Good covenent and credit and new facility. Development funds required for 18-24 months with AAA Tenant in hand. Housing units sold on lifelease.
Initial studies indicate total project cost of app.
Another breakdown shows cost of lifelease to be 20.8 mill with sales of 27.8 mill for 7 mill profit. Similar projects in town have done very well due to two factors, the Aging in Place concept, and affordability, This project has both. Site is app. 15 min from interim casino and has great highway exposure. Changing rooms, snack bar, patio, possible rental of space for cart and parts suppliers.