A current opportunity Residential Loft project

Returns on this Adaptive Reuse Project will be "exceptional". (54% ROI projected over 10 month project time-line.) This project has some very unique attributes which dramatically reduce renovation costs.

 Historic Ridgedale Masonic Lodge building / Chattanooga, Tn.    Circa 1924


Located at the base of the Historic Missionary Ridge in Chattanooga, TN is a building that dates back 95 years (circa 1924) and if you can believe this  . . . has been occupied by only one owner.  This beautiful building was built by and is the still the home to Free Masons Lodge 660.  


We are extremely excited about the financial returns of this project.  In the 25 years that I have been involved in Adaptive Reuse projects, I have never . . . ever had the opportunity to work with a 95 year old building that is in the extraordinary condition that we find this building.  All of the original build-out and architectural detail still remain and is in excellent condition.  Hardwood floors, stunning mahogany staircase, original office walls, doors, and trim throughout . . .  all intact and in excellent condition.


In utilizing the most appropriate use and build-out of this adaptive reuse project, we will be converting the building into seven (7) highly emotional Residential Lofts and 2-3 commercial/office spaces.  The initial plans for residential lofts will show between 1080 and 1555 sq. foot residential units.  


To honor and maintain the historic, visual, and emotional appeal of the building, it is our intention to keep the existing details and finishes of the original building intact.  Our goal and ambition is to maintain the history, all detail, and emotion of the building.  We will design each unit around the existing characteristics, assets, and detail of the original building.  Each unit will be appointed with finishes that will compliment the existing period design and assets of the original build-out.  Please take the time to view the following photos which should provide some perspective on what we are attempting to convey.



For additional information on the project, please contact Jay Silliman directly at 404-558-9854.

An exceptional investment opportunity

What makes this project so attractive from a financial and build-out perspective

 is the overall building condition, layout, upgrades, and costs.    Roofing material and structure have been upgraded and is in excellent condition. The windows have been recently replaced with energy efficient double pane glass.  Throughout, you will see that the hardwood floors are in pristine condition.  Most walls that will divide the individual units are already in place. These existing architectural assets alone will bring build-out costs down approximately $60+/sf from the typical Adaptive Reuse project.

The original design and features of the building provide for a highly attractive curb appeal.

The masonry and concrete facing coupled with the obvious historic look and feel, create a warm and aesthetically pleasing façade. The buildings setting and location serves as a front door as you begin a trek up the historic Missionary Ridge.   It's location also provides for a straight 5 minute run down East Main Street corridor to the Chattanooga city center, entertainment and sporting venues.  The loction provides extremely easy access to I-24.

The first floor of the structure will provide for the primary entrance to the residential lofts.

 This entrance (which is separate from the commercial spaces) opens to a large foyer area. The original mahogany staircase is warm and welcoming.  The first-floor commercial spaces have their own individual entrance doors. The original stamped metal ceilings add to the historic and rustic appeal that is sought after in the authentic loft market. There will also be one residential unit located on this ground floor with private entrance and planned private courtyard.  

The 2nd & 3rd floors have original offices and meeting spaces as well as two large assembly rooms.

The existing walls are accented with solid wood framing and frosted windows.  Two large open rooms finish out the square footage.  A dividing wall will be built down the middle to separate these large spaces into four loft units. All  lofts are designed to provide  a  maximum number of windows which provide an abundance of natural light.  The front 3rd floor unit offers large Palladian windows that run the full width of the building.  

So why the fluffy descriptive about this property for those who are looking at this project from a purely financial / investment perspective?

 Because in the 25+ years that I have been involved in Residential Loft Adaptive Reuse projects, I have never seen a more intact, emotional building that is so naturally laid out for authentic loft spaces and living. These factors translate into a serious reduction in construction and buildout costs.  They present us with the opportunity to push the top of the market when pricing the lofts.

     

  



For the serious and qualified investor . . . we are excited to show you the numbers.

 

Please fill out the form below for confidential access to the the project numbers / proforma.


 Low purchase cost    /    Low build-out cost    /   High sale prices    /   Short build-out and sales cycle.  

lOOK AT THE NUMBERS

For a look at the financial opportunity and ROI for this project, please call Jay Silliman at 404-558-9854

Files coming soon.

Access to project confidential information is by Invitation Only. Please register below. We will send a login and password to provide access. Minimum participation in this project - $100,000

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

BackStreet Capital, LLC

Marietta, Georgia, United States

(404) 558-9854