A developer plans to raise $10 million in equity to build a BCD Clubhouse near Buckeye Airport in Phoenix. The project costs $6.75 million to construct plus $4 million for land, with a projected post-completion value exceeding $30 million. The site sits in an Opportunity Zone for tax benefits.
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We're going to raise capital for this. We're going to— so AJ didn't know I was going to tell him this, but we're going to raise $10 million to build the BCD Clubhouse. Quick question. Is this by the airport? This is the crew that's going to do it. Say it again. Is this by the airport over there? By the— like a really small airport? It's by the Buckeye Airport. Okay. So you probably drove past it if you come into Phoenix. So from Kelly. So anyway, where we're at, building a marketing plan, we're looking at a cost to build of about $6,750,000. Land's gonna cost us about $4 million. So if we raise $10 million in equity, we could raise about another $5 million in debt. The proposed value of the property after we're done is gonna be above north of $30 million. We want to do it in an opportunity zone area, of course, but these are some examples of brand new businesses that popped up and became successes overnight.