Tel: + 678 - 666 - 0188 Manson’s Mill Rental Home Project
The Mason Mill Rental Home Project
The Mason Mill Rental Home Project is a proposed real estate development which will include construction and operation of a 398 single family housing development to accommodate low income families. This program also provide lease to purchase program for family who have lost credit to lease purchase a homes to fulfill their American dream. Project Location The Project is located within DeKalb at 7807 Union Grove Road, Lithonia, Georgia 30058. Use of Funds Total project costs are summarized as follows: Acquisition costs $ 7.60 million Hard construction costs 58.17 million FF&E 0.98 million Soft construction costs 8.15 million Initial Operations 1.30 million Total Development Costs $ 76.20 million Source of Funds The total capitalization requirements for the Project are expected to be met through a combination of the following: EB-5 Loan $50.00 million from 100 foreign investors Private Equity 26.20 million from Owner/Developer Total Capitalization $76.20 million Development Schedule The development timeline will be driven by access to EB5 investment dollars. Total construction time is estimated to take thirty months; The Mason Mill Rental Home Project will conduct approximately twenty-three months of business operations at the same time as continuing construction activities. Financial Projections According to financial projections, gross revenue from business operating activities will total $4,094,970 at the end of the 30-month EB-5 Timeline with an EBITDA of $2,569,573. With the lease to purchase program, the 60 months sales revenue could reach $60,000,000