Christian Osgood's team got city approval to reopen a daycare in an Abilene, Texas building zoned for apartments. The daycare closure had cost $60,000 a year in lost income. After repairs and cleaning, reopening it will restore that revenue and fund further improvements expected to generate multi-million-dollar returns.
Chapters
I want to show you one more thing that comes with scale. That for lease sign? Today I am in Abilene because we just won in the city hall. We got approved. We get to reopen the daycare. So on top of all of the amenities here, our commercial space will reopen. We have a few tours with tenants coming out here in the next week, but we just got this whole big building back online. The current zoning told us that this entire building has to be, uh, residential. It's zoned to be multifamily. However, it's a commercial space. It has office, has the kids' playrooms. This was for 20 years. Right behind me was a daycare. So we just got the approval after 4 months from the city to allow our daycare to be a daycare. I think they made a great decision. This little thing will add about $5,000 a month to our NOI or $60,000 a year, which doesn't suck. That's a huge income stream that's just available right here in Abilene, Texas. If you come in and you just fix the little pieces of a deal that was a gross building and we ended up getting it all fixed. A pipe burst years ago, shut down the daycare, fix a few spaces, swap the tents around to clean, safe people, clean up the units, fix the problems. We're going to spend a few hundred thousand dollars to make millions upon millions upon millions of dollars on this particular project just by responsibly doing the thing.