|Re: Forming Group needs help||<– Date –> <– Thread –>|
|From: Ann Zabaldo (zabaldoearthlink.net)|
|Date: Thu, 5 Oct 2006 14:14:27 -0700 (PDT)|
Maggie --Are you working w/ any cohousing or other housing professionals? A marketing, sales or outreach professional?
You've posted here before about this Catch-22 situation. Without good deal more information on the financing of the project it is hard to advise you on how to proceed.
One thing I can say is that w/ so much money invested and time running out, if you haven't done so, hiring a professional to help you navigate this "bump" is crucial.
Do you need referrals? Best -- Ann Zabaldo Principal, The Cohousing Collaborative Cohousing Consultant --Takoma Village --Eastern Village --Baltimore City --Annapolis --Concord Village “The Road to Enlightenment is Long and Difficult... So Bring Cookies and a Magazine.” Wk 202 546 4654 FAX 202 291 8594 6827 4th St. NW #312 Washington, DC 20012-1945 On Oct 5, 2006, at 1:51 PM, maggiedutton wrote:
This message below is posted on behalf of a forming group in Nanaimo, a gorgeous city on Vancouver Island, British Columbia, Canada. Maggie DuttonWe Need Your Help!Without five to seven new members invested in Pacific Gardens by December21, 2006, the project risks folding.Not only will the dream of a green cohousing community in Nanaimo die but many investors and owners risk the loss of all or some of their investments, over $800,000 to date – not a good thing for us or the cohousing world ingeneral.In retrospect we could have, and probably should have, done some thingsdifferently but we’ve successfully danced our way through a maze ofrezoning, consultants, city requirements, design limitations, and more, onlyto be thwarted by a lack of committed members.We’re now ready to start building but without 17 owners, we will not be able to secure construction financing. We keep hearing from prospective membersthat they will commit when construction starts – a classic Catch-22situation. Unfortunately, the maxim “build it and they will come” is most certainly true but lenders don’t operate on the basis of that philosophy.In August we announced the birth of our “Parachute Strategy,” an approach whereby new members could join Pacific Gardens without the risk that present owners and investors have incurred. Shares and shareholder loans would be held in trust until construction financing was secured and the buildingphase guaranteed. This offered what we thought was a great, risk-freeinvitation to those teetering on the fence. Unfortunately, it hasn’t as yethad the results we’d hoped for.We offer a profitable opportunity for those who might wish to purchase a unit for investment or rental purposes complete with a list of responsiblecommunity-minded folks who would love to rent it.We are so close – but after years of effort, many owners at Pacific Gardenshave reached their saturation point, both from a financial and timecommitment. We see the emergence of for-profit green communities in Victoria– how long before our idea is turned into a for-profit building? How can you help? Maybe you know someone who’s looking for a cohousingcommunity or who wants to live on Vancouver Island. Invest in us, talk incessantly about us, send us your ideas – tell us what are we doing wrong(or right), offer solutions, feedback – anything you think might help. Thank you. Judy Delogne on behalf of Pacific Gardens Cohousing Community _________________________________________________________________ Cohousing-L mailing list -- Unsubscribe, archives and other info at: http://www.cohousing.org/cohousing-L/
- Forming Group needs help maggiedutton, October 5 2006
- Re: Forming Group needs help Mike Swettenam, October 5 2006
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