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Property Overview

232 State St is a highly visible project in downtown Traverse City, Michigan along the coastline of Lake Michigan. The units will be held by the investment and development group, and they have flexibility as rental residences as both part-time and resort-style (Airbnb) rentals with limited restrictions. Traverse City is the largest resort town in Michigan and offers bike paths, parks, picnic areas, boating, golf, and winter skiing. The adjacent central business district offers a variety of retail shops, restaurants, urban parks, and waterfront recreation areas.

Plan Overview

This plan is part of the support for the investment in the development of the 80-unit Short Term Rentals (with over 7,000 sq ft of retail and rooftop deck) on State St in Traverse City MI.  C4C Development, LLC has led the development and the design of the project. Socks Construction will execute the construction management, utilizing their component construction systems technology with CCS to expedite build timelines and maximize quality and return. Process completed to date: 

• Site plan design / Building plan design

• Engineering/Environmental 

• Property entitlements - Approved

• Adjacent utilities - Quality access and visibility

Benefits and terms of investor: 

• Investor will have the ability to invest in subsequent projects. 

• Developer will offer an 8% interest return during the build-out period to be paid or applied at the completion of the project.

• Investor will earn a 25% waterfall in participation of net development profits (Equity Recapture projecting 3-5 years from start).

• Security will be in the land and improved units until repayment is made.

• Investors can either cash out their investment at equity recapture or continue to own shares in the corporation that will generate an estimated yield.