Restaurant financing – Dorfschaenke http://dorfschaenke.net/ Tue, 15 Nov 2022 20:28:48 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://dorfschaenke.net/wp-content/uploads/2021/04/cropped-icon-32x32.png Restaurant financing – Dorfschaenke http://dorfschaenke.net/ 32 32 Finally, construction begins at CityPlace Burlington | News | Seven days https://dorfschaenke.net/finally-construction-begins-at-cityplace-burlington-news-seven-days/ Tue, 15 Nov 2022 20:28:48 +0000 https://dorfschaenke.net/finally-construction-begins-at-cityplace-burlington-news-seven-days/ Click to enlarge Courtney Lambin©️ Seven days Mayor Miro Weinberger (second from left) and the CityPlace Burlington team For the first time in five years, there is movement at the Pit. CityPlace Burlington, the long-running project […]]]>

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  • Courtney Lambin©️ Seven days
  • Mayor Miro Weinberger (second from left) and the CityPlace Burlington team

For the first time in five years, there is movement at the Pit.

CityPlace Burlington, the long-running project in the center of downtown Burlington, was an active construction site Tuesday morning. A team of helmeted workers was busy at the entrance to the site, along Bank Street. An excavator scraped mounds of dirt as dump trucks drove past, at one point prompting a group of reporters to rush in.

For Mayor Miro Weinberger, it was the sights and sounds of progress after years of delay.

“I’ve always believed in this project, he says. “This is what we need to make our downtown healthy and vibrant for decades to come.”

The business was a milestone for CityPlace, which has weathered legal battles, ownership changes and reshuffles since its first proposal in 2014. At that time, then-owner Don Sinex pledged to replace the old downtown Burlington mall with two 14-storey retail towers, apartments and a hotel. It began demolishing the mall in 2017, but little has happened to the site since, earning it the derisive nickname “the pit”.

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The CityPlace construction site - COURTNEY LAMDIN ©️ SEVEN DAYS

  • Courtney Lambin©️ Seven days
  • City Place construction site

Sinex sold its shares in the project in May to three local businessmen: Dave Farrington of Farrington Construction, Al Senecal of Omega Electric Construction and Scott Ireland of SD Ireland, all of whom joined the mayor on Tuesday morning to outline their plans.

When completed, CityPlace will consist of two approximately 10-storey buildings with 427 apartments, including affordable housing that will be managed by the Champlain Housing Trust. Plans call for ground-level retail, 422 parking spaces, a rooftop restaurant and an observation deck.

On Tuesday, crews were preparing for a new foundation, which will be poured by December 1. Construction will continue through the winter, with the goal of completing the so-called “South Building” on Bank Street in 2024.

The U-shaped “North Building” on Cherry Street, which includes the CHT units, would be completed by summer 2025. At that time, work would begin to rebuild portions of St. Paul and Pine Streets which have been separated from the city network by the old shopping centre. The developers aim to complete construction by November 2025.

Burlington City Council Approves Amended CityPlace Agreement

Burlington City Council Approves Amended CityPlace Agreement

By Rachel Hellman

New

However, the partners still do not have funding for the entire project. Farrington said the team is “committed” to funding the south building, but is discussing “with potential co-development partners” funding for the north building. Champlain Housing Trust is separately seeking funding for the affordable housing portion.

Farrington estimates a total construction cost of $200 million.

He thanked the mayor’s office and fellow partners for initiating the project.

“It’s been seven months and a lot of meetings,” Farrington said. “We get a to-do list and we break it down, and just break it down and do it. And that’s how this project is going to keep moving forward.”

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CityPlace Partner Dave Farrington and Mayor Miro Weinberger - COURTNEY LAMDIN ©️ SEVEN DAYS

  • Courtney Lambin©️ Seven days
  • CityPlace Partner Dave Farrington and Mayor Miro Weinberger

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Modi government adopts zero-tolerance policy on terrorism: MHA https://dorfschaenke.net/modi-government-adopts-zero-tolerance-policy-on-terrorism-mha/ Sat, 12 Nov 2022 07:17:38 +0000 https://dorfschaenke.net/modi-government-adopts-zero-tolerance-policy-on-terrorism-mha/ The Modi government is adopting a zero tolerance policy towards terrorism and will convey to the international community India’s resolve in its fight against the threat. The Union Home Ministry said the Indian government is organizing the 3rd No Money for Terror (NMFT) Ministerial Conference on November 18-19 in New Delhi, where representatives from 75 […]]]>

The Modi government is adopting a zero tolerance policy towards terrorism and will convey to the international community India’s resolve in its fight against the threat.

The Union Home Ministry said the Indian government is organizing the 3rd No Money for Terror (NMFT) Ministerial Conference on November 18-19 in New Delhi, where representatives from 75 countries and international bodies will attend the deliberations for two days.

The hosting of the NMFT conference shows the importance given by the Modi government to the issue of international terrorism as well as its policy of zero tolerance against the threat and discussions on this issue among the international community, according to a statement from the ministry. inside.

Union Home Minister Amit Shah will attend the conference and convey India’s resolve in its fight against terrorism as well as its support systems to succeed against it.

The conference aims to advance discussions on countering the financing of terrorism held by the international community at the two previous conferences in Paris (2018) and Melbourne (2019), the statement said.

It also intends to include discussions on the technical, legal, regulatory and cooperation aspects of all facets of terrorist financing.

It also attempts to set the tone for other high-level official and political deliberations focused on countering the financing of terrorism.

Globally, countries have been affected by terrorism and militancy for several years. The pattern of violence differs in most theaters, but is largely spawned by a tumultuous geopolitical environment, coupled with protracted sectarian armed conflict, the statement said.

These conflicts often result in poor governance, political instability, economic deprivation and vast ungoverned spaces. The involvement of a docile state often exacerbates terrorism, especially its financing.

India has suffered from several forms of terrorism and its funding for more than three decades, so it understands the pain and trauma of affected nations alike, the statement said.

To show solidarity with peace-loving nations and help build a bridge for lasting cooperation in the fight against terrorist financing, India hosted two global events in October – the Annual General Assembly of ‘Interpol in Delhi and a special session of the UN Counter-Terrorism Committee in Mumbai and Delhi. The upcoming NMFT conference will bolster India’s efforts to enhance understanding and cooperation among nations, he said.

Discussions at the 3rd No Money For Terror Conference will focus on global trends in terrorism and terrorist financing, the use of formal and informal financing channels for terrorism, emerging technologies and terrorist financing and the international cooperation needed to address related challenges, the statement said.

-With PTI input

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The bank partners with Porter House to offer more than hugs; Meet Four Latest KC Grant Recipients – Startland News https://dorfschaenke.net/the-bank-partners-with-porter-house-to-offer-more-than-hugs-meet-four-latest-kc-grant-recipients-startland-news/ Wed, 09 Nov 2022 22:27:52 +0000 https://dorfschaenke.net/the-bank-partners-with-porter-house-to-offer-more-than-hugs-meet-four-latest-kc-grant-recipients-startland-news/ VSameron Martin understands the importance of growing deeply in the community that inspired his journey and first fueled the business he built with his wife, Tameisha, he said. The co-owners of Love is Key — a waffle-centric brunch restaurant and dining concept in the former Soulcentricitea space on Troost Avenue — received a $15,000 grant […]]]>

VSameron Martin understands the importance of growing deeply in the community that inspired his journey and first fueled the business he built with his wife, Tameisha, he said.

The co-owners of Love is Key — a waffle-centric brunch restaurant and dining concept in the former Soulcentricitea space on Troost Avenue — received a $15,000 grant on Tuesday from the JPMorgan Chase Foundation in partnership with the Doorman House KC.

“We are natives of Kansas City,” explained Cameron Martin. “We grew up here. We understand the culture. We really want to be able to scale in depth and really be able to be a pillar in the community. It comes from seeds like this, so we appreciate everyone for that.

Of 80 small businesses that applied for the Scale Deep grant — no live pitches required — four were chosen by a panel of judges to share $32,000 for administrative support, cost of equipment, help with rental and general system needs.

Margaret’s Place, Woodie Goodies and Royale Blue Boy complete the list of recipients.

Charon Thompson and Dan Smith, The Porter House KC

The Porter House team – led by co-founders Dan Smith and Charon Thompson with a mission to help underserved entrepreneurs start and sustain their businesses – came up with the name for the grant after reading a harvard business review article on deep scaling.

“These researchers conducted an eight-year study in Detroit,” Smith explained. “The focus was on scaling versus deep scaling and the impact that has on the community. And so that deep piece with us just kind of resonated.

As a recipient of a grant from the JPMorgan Chase Foundation, the nonprofit was able to hire two employees, Miranda Schultz and Jahna Riley, thanks to the influx of funds.

“So we’re really grateful for what JPMorgan Chase has done for us, and without their help, we wouldn’t be able to get to where we are today,” Smith added. “Really thrilled with what JPMorgan Chase is doing for our community.”

In August, the Martins opened their love is the key restaurant at 30th Str. and Troost Ave. The Scale Deep Grant is their first major funding win, noted Tameisha Martin.

“He’s a truck driver; I am a licensed medical social worker, she said. “We live below our means and really saved money to start our restaurant. Like many of you, we also have a story. It really is my mother’s and grandmother’s dream. They always wanted a restaurant.

They plan to use the money to hire more staff and improve their mobile kitchen, she said.

Click on here to learn more about the Scale Deep grant.

Rico Con, Chase, at the Scale Deep Scholarship Announcement Event

Recipients received their grants at the grand opening celebration of Chase’s new bank branch at the corner of Troost Avenue and Armor Boulevard, not far from Love is Key. Rico Conn, the new branch manager, noted that the foundation made nearly $240,000 in charitable contributions to local Kansas City-area organizations in 2020.

“It’s amazing,” he continued. “That’s a lot of dollars. That’s what we’ve been [hearing] – especially from the perspective of blacks and browns – is: “Listen, your support is amazing”. Your handshakes are excellent. Hugs are great too. Even a Facebook like that is cool. But where is the money? I can’t really do what I really want to do without funding and funding. “

Damion Heron, Chase’s executive director for community and stakeholder engagement in the West Midwest region, said hearing the stories of these small businesses reinforces why Chase chooses to support them.

“It’s not just about banking and it’s not just about lending,” he explained. “These are people’s dreams. It is their culture, their heritage and their family dreams that they have had for decades. So to be part of making that happen is just amazing.

At Marguerite’s — $10,000

Patricia McCreary, Margaret’s Place

Patricia McCreary founded At Marguerite’s – an adult daycare, recreation and wellness center for the elderly – in honor of her grandmother, whom she cared for for seven years while suffering from dementia. Margaret’s Place, according to McCreary, provides a space for older people and people with disabilities over the age of 18 to get out and live their best life.

“I did a lot of research and all the research I did showed that the brain was a muscle and she found a place where she could go and be active and have fun,” he said. she declared. “We visited every adult day care center in Jackson County and his exact words were, ‘I’d rather stay home and rot than go to those places. So I’ve been an entrepreneur for 19 years and I saw a need, a problem in our urban core of Kansas City for people like me to find a place to go for their loved ones.

McCreary said she plans to use the grant money to repair a new building recently purchased by Margaret’s Place at 35th Street and Woodland Avenue, just down the street from the new Chase branch.

“It’s refreshing to see bigger banks investing in our community,” she added. “It gives hope. We’ve been a business for seven years now. I’ve been an entrepreneur for 19 years and you just don’t get opportunities like this. So it’s nice to be able to have an opportunity like And then just to feel the love and passion that Chase has for the community, it makes you feel warm and welcome.

Woodie candies — $5,000

Jordan Woods, Woodie Goodies

Founded in 2021 by Jordon Woods – a University of Missouri-Kansas City senior – Woodie candies is a book distribution company that gets unwanted books into the hands of new readers and keeps them out of landfills.

“We provide second-hand books to people in need, mostly through e-commerce sites like Amazon, eBay,” he explained. “Any of our leftover books, we then distribute to local businesses around Kansas City like Half Price Books, or any other children’s books that are leftover, we also donate to local elementary schools.”

Woods is grateful for the grant money and plans to use it towards the cost of a forklift, so he can stack and store more boxes of books for distribution, he said.

Royal Boy Blue — $2,000

Madden Tanner, Royal Blue Boy

Madden Tanner, 13, promotes youth literacy through his business, Royal Boy Blue.

“I write books for young boys in particular – and also for girls – to encourage them to read more because I found that young boys in my school don’t read as much as I do,” he said. he explains.

He also donates books and hosts book groups, in addition to being a DJ.

The grant money should help his business grow even further, he said.

“It means I’m seen for the quality of my business and how hard it can push other literate people,” Tanner added.

Click on here to learn more about the origins of Royale Boy Blue.

This story is possible thanks to the support of the Ewing Marion Kauffman Foundationa private, non-partisan foundation that works with communities in education and entrepreneurship to create unusual solutions and empower people to shape their future and succeed.

For more information, visit www.kauffman.org and log on to www.twitter.com/kauffmanfdn and www.facebook.com/kauffmanfdn

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The City reaches an agreement for a large multi-use project in the city center https://dorfschaenke.net/the-city-reaches-an-agreement-for-a-large-multi-use-project-in-the-city-center/ Mon, 07 Nov 2022 08:13:25 +0000 https://dorfschaenke.net/the-city-reaches-an-agreement-for-a-large-multi-use-project-in-the-city-center/ By Ken SainChief Editor Matt Orlando praises his fellow Chandler City Council members for holding on and finally getting exactly what they wanted in a major downtown development. “I’m glad we stuck together on this,” Orlando said during the Oct. 24 study session. “We actually said to the developer, ‘Look, you can do this: you […]]]>

By Ken Sain
Chief Editor

Matt Orlando praises his fellow Chandler City Council members for holding on and finally getting exactly what they wanted in a major downtown development.

“I’m glad we stuck together on this,” Orlando said during the Oct. 24 study session. “We actually said to the developer, ‘Look, you can do this: you can buy this property, but you have to give something back to the residents with a long-term perspective.'”

The development is One Chandler, which will be built around the Jack in the Box at the southeast corner of Arizona Avenue and Chandler Boulevard.

The mixed-use plan includes space for retail and office space, as well as multi-family housing. There would be 290 apartments, 13,000 square feet of offices and 16,000 square feet of retail on the ground floor. The Jack in the Box restaurant in the middle of the currently empty ground would remain.

The developer, Jackson Dearborn Partners, initially wanted to build just 126 multi-family units, with approximately 3,500 square feet for retail on their portion of that lot. The city is selling the other half of the land to the developer for an estimated value of $2.94 million.

This will allow them to build a bigger project. The developer has two years to begin construction. The project is to be completed within 54 months of finalizing the deal, which is expected to take place in February.

The whole project still has to go through the usual procedures, including review by planning staff, public hearings, review by the Planning and Zoning Board before it can get final approval from the Board. Changes to the plan may be made along the way.

The city owns the portion of the lot beginning behind the Jack in the Box south of Buffalo Street. Jackson Dearborn owns the northern half of the lot on Chandler Boulevard.

The city has the right to repurchase the property it sells if Jackson Dearborn Partners is unable to meet the agreement.

“We understand this is a very important downtown intersection,” said John Carter Owens, downtown redevelopment specialist. “Chandler Boulevard is the gateway to our downtown. We are therefore delighted to work with such great partners to deliver a project worthy of this corner.

Owens said the city has been trying for two decades to achieve full block development in this space.

“When we had the opportunity to do so in August … the Board gave us the direction to pursue development agreement negotiation with the Jackson Dearborn partners to make this almost all-black development possible.

Orlando said it took a lot of patience to get there, but in the end the city got what it wanted from the project.

“As you said, we’ve been in business for over 20 years,” Orlando said. “There have been a lot of proposals that have been made… some good, some bad. They never really had the money and the funding. I’m glad the board and staff have come together and ensured that we have a retail element and an office element. »

Adding retail businesses creates more jobs in the city, officials said, and will generate more tax dollars. Orlando said the city could have put apartments on the space years ago, but waited longer.

“What’s in it for the city,” Orlando said. “Apartments are great, multifamily is great. But the key is that we need retail to continue to pay for these police, fire and other services. And the key is that we need places where businesses can grow and expand our community.

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Marco’s Pizza® Expands Development Team by Adding VP of Construction and VP of Real Estate https://dorfschaenke.net/marcos-pizza-expands-development-team-by-adding-vp-of-construction-and-vp-of-real-estate/ Thu, 03 Nov 2022 12:02:26 +0000 https://dorfschaenke.net/marcos-pizza-expands-development-team-by-adding-vp-of-construction-and-vp-of-real-estate/ By: Marco’s Pizza® | 0 shares 17 readings The Nation’s Fastest Growing Pizza Brand* Adds Five Decades of Expertise to Development Team, Plans Next 1,000 Units November 03, 2022 // Franchising.com // TOLEDO – To support Marco’s Pizza and its unprecedented growth trajectory, the nation’s fastest growing pizza brand* announces the appointment of David Gladstone […]]]>

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The Nation’s Fastest Growing Pizza Brand* Adds Five Decades of Expertise to Development Team, Plans Next 1,000 Units

November 03, 2022 // Franchising.com // TOLEDO – To support Marco’s Pizza and its unprecedented growth trajectory, the nation’s fastest growing pizza brand* announces the appointment of David Gladstone – VP of Construction and Paul Williams – VP of Real Estate. Together they bring more than five decades of experience to the development team led by recently appointed Director of Development, Gerardo Flores. Under new leadership, Marco’s is refining its franchise development program by sophisticatedly streamlining the process and driving strategic expansion.

With over 30 years of experience in restaurant development, Gladstone has held various positions in real estate, construction and procurement for Bad Ass Coffee of Hawaii, Starbucks, Einstein Bros. Bagels, Focus Brands, Noodles & Company, Jamba Juice, and Quiznos. As he transitions into this new role, he will work hand-in-hand with his team to support franchisees through their site selection and construction process, providing early stage guidance and management. at the end of the construction process to ensure that new Marco’s Pizza stores are built efficiently and quickly.

Williams is an accomplished real estate professional with extensive experience in restaurant and retail real estate. He previously served as Director of Real Estate at Jersey Mike’s Subs, Director of Real Estate at Jack in the Box, Inc. and Director of Development at Dunkin’ Brands. Her knowledge and experience with these fast-growing franchise brands aligns with Marco’s vision for national growth as she charts her next 1,000 units.

Marco’s currently spans over 1,100 stores in 33 states, with locations in Puerto Rico and the Bahamas. Franchise expansion continues to accelerate with more than 200 stores in various stages of development and more than 350 deals signed, all while achieving record performance, exceeding $1 billion in annual system-wide sales.

“David and Paul are wonderful additions to our outstanding development team and great assets to our current and future franchisees,” said Flores. “Their extensive experience and trusted status within the franchise industry makes them an ideal partner for our sophisticated approach to franchise development. As we look to Marco’s next era of growth, we are expanding our teams at every level – sales, real estate, construction, etc. – with top talent like David and Paul From there, our internal teams will sync and create efficiencies through process protocols that deliver brilliant results.

Marco’s is on track to climb the ranks as the Nation’s Restaurant News Top 500 report shows the brand achieved the highest percentage change in sales year-over-year (+18.2%) compared to the Top 4 Pizza Brands in the Country**, making Marco’s the #5 Pizza Brand in Systemwide Sales in America. With strong growth and performance, Marco’s now aims to become the #4 brand in pizza, as it saw a 12.8% increase in average unit volume (AUV) year-over-year , and Marco’s top 50% franchised stores generated $1,198,201 AUV for 2021***.

“Not only are we performing strongly, but our franchise development pipeline remains strong and healthy,” said Tony Libardi, co-CEO and president of Marco’s Pizza. “As we continue to grow with multi-unit franchisees and expand our brand footprint, we are committed to providing a comprehensive development support system, including technology and tools to help identify the right territories for the expansion as well as expertise in finance, real estate, construction management and field operations. It all starts with the right team, and I’m confident we have the right players to propel Marco’s into its next phase. of rapid growth.

For more information about Marco’s Pizza franchise opportunities, visit https://www.marcos.com/franchising/ or call 866-731-8209 to speak with Shannon Iverson, Vice President of Franchise Sales.

About Marco’s Pizza

Marco’s Pizza is America’s most loved and trusted pizza brand, according to the 2019 Harris Poll EquiTrend® study. Based in Toledo, Ohio, Marco’s Pizza is the fastest growing pizza brand in the United States*. Marco’s was founded in 1978 by Italian Pasquale (“Pat”) Giammarco and strives to provide a high quality pizza experience, known for its homemade dough and three signature fresh cheeses. The company has grown from its roots as a beloved Ohio brand to operate more than 1,100 stores in 33 states with locations in Puerto Rico and the Bahamas. Most recently, Marco’s Pizza was ranked #2 in the Pizza category of Entrepreneur magazine’s 2022 “Franchise 500” ranking and #4 in the fastest growing category of Restaurant Business‘ 2021 “Top 10 Fastest Growing Chains” ranking. . Other recent accolades include a high ranking on Newsweek’s 2023 “America’s Best Customer Service” pizza chain list, ranked No. 40 on QSR’s Top 50, and featured five consecutive years in the prestigious “Top 500” ranking. from Nation’s Restaurant News.

*Marco’s Pizza is the fastest growing pizza brand based on year-over-year unit growth, according to the NRN Top 500 US Restaurant Ranking LSR Pizza Segment 2021.

**Nation’s Restaurant News has partnered with Datassential and its Firefly data platform to provide in-depth insight into the performance of the Top 500 restaurant chains.

***Based on the average unit volume of our top 50% franchise stores for fiscal 2021. Based on fiscal 2021, 146 of the category’s 389 franchise stores (38%) met or exceeded this average . This information is contained in point 19 of our FDD 2022 – please refer to our FDD for full financial performance information. Results may differ. There is no guarantee that a franchisee will perform as well.

SOURCE Marco’s Pizza

###

Media Contact:

Kelly McNamara
PR Fishman
847-945-1300
KmcNamara@fishmanpr.com

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The east and west frontage roads develop differently https://dorfschaenke.net/the-east-and-west-frontage-roads-develop-differently/ Sun, 30 Oct 2022 20:14:49 +0000 https://dorfschaenke.net/the-east-and-west-frontage-roads-develop-differently/ Drive along the west frontage route of I-55 from County Line Road to Northside Drive and you can stop to dine on Chinese cuisine, fried chicken, seafood and even Indian cuisine. You can buy household appliances, new or used cars, alcohol, paint, an American flag as well as flags of many other countries, and even […]]]>

Drive along the west frontage route of I-55 from County Line Road to Northside Drive and you can stop to dine on Chinese cuisine, fried chicken, seafood and even Indian cuisine.

You can buy household appliances, new or used cars, alcohol, paint, an American flag as well as flags of many other countries, and even rent storage space.

You can also choose from a mix of budget hotels that include Motel 6, Studio 7, In Town Suites, Quality Inn, Baymont Inn by Wyndham, and Best Value Inn and Suites.

Compare I-55’s west frontage route between Briarwood Drive and Northside Drive to its east side counterpart and development appears to have taken a different turn.

Philip G. Holman, senior vice president of The Mattiace Company, can’t explain why West Frontage Road and East Frontage Road have evolved the way they have, but easy access to I-55 remains. a plus for both.

The West Frontage Road lacks a major retail business like that of the East Frontage Road, which includes Maywood Mart, Jacksonian Plaza, Deville Plaza, and just off the Frontage Road, Canton Mart Square.

“There’s less appeal to some people because there’s no Kroger, no Highland Village on that side,” Nancy M. Lane, principal broker at Lane-Harkins Commercial Real Estate, told About West Frontage Road.

The west frontage road does not have as much new development in the area behind it as the east frontage road does, and this could be a contributing factor to the progress of both areas, she said.

Lane believes that the change to one-way traffic on each service road has had an impact on the evolution of the layout of each service road. For many years the two front roads had two-way traffic.

Like many commercial real estate agents, Lane views an empty building as a business opportunity. Finding a buyer to occupy a vacant building is all about finding a business that fits the space well or someone who can reinvent the space with a new purpose, she said.

Holman has the listing for the building that once housed Fuddruckers and Luby’s cafeteria at 6572 I-55 North, which is located on West Frontage Road.

A bank and a restaurant have expressed interest in the property, he said. Early next year is the earliest a deal can be struck, he said.

Unlike residential transactions, commercial real estate transactions are complex and transaction time can take anywhere from four months to a year, he said, noting that details such as appraisals and financing tend to lengthen the time frame.

Holman also represents the I-55 Office Plaza at 4915 I-55, a garden-style office complex on West Frontage Road. “The anchor is Sylvan Learning Center, which has been around for 15 to 20 years,” he said.

The tenants include a mix of professionals as well as a corporate office and even a church, he said. An office complex can be a good location for a church due to the abundance of parking, and church members use the space most often on Sundays, while office tenants typically do not. , did he declare.

The former Regions Bank Operations Center at 4855 I-55 North, which includes approximately 5.7 acres of land on the West Frontage Road, recently sold for $795,000, according to the Auction Management website. Corp. The property was last offered at $4.75 million before the bank decided to put it up for auction, according to the website Auction Management Corp.

Holman said the buyer is considering converting the property into a self-storage facility.

Large buildings, no matter where they are, quite often require a buyer with a vision, Lane said.

“Sometimes people find it hard to imagine anything new when they walk through a building that’s all office space and has 9-foot ceilings,” she said. “You have to imagine what it could be.”

Gulf Guaranty Insurance moved to Flowood in the fall of 2020 and donated its building at 4785 I-55 on Hinds County West Frontage Road.

The Hinds County Emergency Operations Center and Hinds County Sheriff’s Department Dispatch Center plan to move into the former Gulf Guaranty Insurance building by the end of the year, after that the building will have undergone approximately $1.7 million in renovations.

A unit from the Hinds County Sheriff’s Department is already working on the building, Hinds County Sheriff Tyree Jones said.

Other redeveloped buildings on West Frontage Road include one at 4795 I-55, now occupied by Midtown Public Charter School, which moved from its location in the Midtown neighborhood, and the former Bonanza Restaurant, which is located at 4791 I-55 North and occupied by the church, Iglesia Cristiana Casa De Dios.

The West Frontage Road is home to several hotels. To ensure hotels are compliant with fire and safety codes, City of Jackson officials are conducting sweeps of hotels along the I-55 corridor, said Chloe Dotson, acting director of planning for Jackson. the town of Jackson. .

“We do these sweeps randomly, she said, noting that the checks will soon expand to hotels along the US 80 corridor.

Earlier this year, the sweeps led to the closure of the Olive Tree Hotel and Banquet Hall and the OYO Hotel, both located on West Frontage Road.

City code enforcement employees and the fire marshal worked together and closed the OYO Hotel at 4641 I-55 North in mid-September after finding safety code violations ranging from l fire, sanitation and electricity.

The Olive Tree Hotel and Banquet Halls at 5075 I-55 North was closed in May for security violations, including a non-functioning elevator, a faulty and missing fire alarm panel, and inadequate smoke detectors. The owners, Las Vegas Dragon Hotel, filed for a temporary restraining order with Hinds County Chancery Court asking a judge to block it.

The Regency Hotel on Greymont Street in downtown Jackson was also closed, but not on West Frontage Road.

However, it’s not all bad news when it comes to West Side hotels.

Owners of the former Best Value Inn and Suites, located on West Frontage Road near the intersection of Canton Mart Road, began work earlier this year to gut the hotel and rebuild it. They plan to rename it to the Studio Six motel.

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Cymbal DLT secures $32 million loan for Fort Lauderdale Riverfront development https://dorfschaenke.net/cymbal-dlt-secures-32-million-loan-for-fort-lauderdale-riverfront-development/ Mon, 24 Oct 2022 20:18:42 +0000 https://dorfschaenke.net/cymbal-dlt-secures-32-million-loan-for-fort-lauderdale-riverfront-development/ asian cymbal literally takes root along Fort Lauderdale’s waterfront. DLT Cymbal Companies closed a $32 million construction loan with REIT 3650 to spin the propeller on a 6-acre waterfront project in Fort Lauderdale that spanned a decade. The project in Fort Lauderdale’s Downtown Riverwalk neighborhood will be developed in four stages, something Cymbal DLT has […]]]>

asian cymbal literally takes root along Fort Lauderdale’s waterfront.

DLT Cymbal Companies closed a $32 million construction loan with REIT 3650 to spin the propeller on a 6-acre waterfront project in Fort Lauderdale that spanned a decade.

The project in Fort Lauderdale’s Downtown Riverwalk neighborhood will be developed in four stages, something Cymbal DLT has been planning for more than a decade. The neighborhood will feature a host of proposed attractions, residential towers, a yacht club and more.

The company has even budgeted what it will cost move and replant an african leviathan rain tree away from where he plans to build the tower.

The first phase covers 1.5 acres at 408 SW Fourth Avenuecovering 200 feet of waterfront. The second phase is about the same size and located at 413 SW Third Avenue. The third and fourth phases will redevelop 3 acres of land at 400 SW Third Avenue and 300 feet of waterfront, according to Cymbal, president of Cymbal DLT Companies.

“This funding will be an important step in bringing the entire site to a start-ready state. We seek to meaningfully transform Fort Lauderdale for the better with exciting architecture and design, Cymbal said in a statement. “Once completed, our neighborhood will also connect the last remaining piece of the Riverwalk and showcase our beautifully preserved rain tree.”

The first-phase residences will be two mixed-use towers, 28 and 29 stories high, designed by the architectural firm Jo Palma + Partners. The developers will inaugurate the works in the summer of 2023.

The lender, 3650 REIT, did not immediately respond to a request for comment.

The $32 million loan is to cover the inauguration of all four phases, but additional funding will be needed to go vertical, according to Cymbal.

Cymbal is also spending about $1 million and has posted an additional $1 million bond to hire tree conservators to move Florida’s tallest African rain tree to the new site. It’s 80 years old, 100ft tall and has a 100ft canopy, according to Cymbal, and the business will have restaurant seating under the tree. “I love this tree,” the Cymbal founder told The the wall street journal in 2013. “It’s not my intention to have the soul of an 80-year-old defeated rain tree following me everywhere.”

Fangorn Ents would agree.

Cymbal DLT’s vision for the neighborhood includes rental towers, a condominium building, a hotel, members clubs, and a marina and yacht club. The neighborhood will also include offices, retail spaces and dining establishments.

Architecture is the architect behind phase two of the project, details of which will be released next year.

Marc Hallum can be contacted at mhallum@commercialobserver.com.

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Whiteland Approves $7.2 Million Bond to Fund Patch Mixed-Use Development https://dorfschaenke.net/whiteland-approves-7-2-million-bond-to-fund-patch-mixed-use-development/ Fri, 21 Oct 2022 20:18:09 +0000 https://dorfschaenke.net/whiteland-approves-7-2-million-bond-to-fund-patch-mixed-use-development/ A concept plan for the new mixed-use development on Whiteland, called Gateway at Whiteland, is presented. Westfield-based Patch Development is developing the property on 159 acres of former farmland. Whiteland City Council this week approved a $7.2 million bond to fund part of a massive mixed-use development in the works on Graham and Whiteland roads. […]]]>

A concept plan for the new mixed-use development on Whiteland, called Gateway at Whiteland, is presented. Westfield-based Patch Development is developing the property on 159 acres of former farmland.

Whiteland City Council this week approved a $7.2 million bond to fund part of a massive mixed-use development in the works on Graham and Whiteland roads.

Part of this agreement also sets in motion long-awaited plans to construct a new public safety building in the city.

Westfield-based Patch Development is building a 159-acre mixed-use development that is expected to house a light industrial development, apartments, restaurant and retail spaces, as well as mid-rise flexible commercial properties.

Dubbed Gateway at Whiteland, work has already begun on the first phase of the development, which includes a 617,316 square foot light industrial building at the rear of the property.

Part of the project agreement between the city of Whiteland and Patch includes a funding method with the city’s assistance to pay for public infrastructure improvements.

Whiteland City Council on Tuesday unanimously approved a bond of about $7.25 million to Patch Development to pay for infrastructure improvements, such as utilities and roads, for the first phase of construction. on nearly 160 acres of property.

Whiteland’s new three-member Economic Development Commission unanimously approved the bond. A public hearing was held before the commission on Tuesday, but no member of the public attended the meeting.

This bond, known as the Economic Development Revenue Bond, is a 25-year bond paid for with tax increment financing, or TIF, funds generated directly from Patch’s development land. These bond funds are loaned to Patch Development, so the debt is in the hands of the developer, not the city.

The city also earlier approved the slicing of the 160-acre Patch development land, formerly known as the Horseley property, into its own TIF district. This means that the tax revenue generated from the development itself would then be reinvested into repaying the $7.25 million bond – instead of taking the money out of the other four TIFs already existing in Whiteland.

The city is expected to collect more than enough from the TIF to cover the debt over the 25-year period, according to Adam Stone, a local government financial consultant who presented the bond information to council in August.

Proceeds from the bond could be used to fund the costs of utility improvements, including electrical, water, gas and sewer main improvements, road improvements, including upgrades of Graham Road, storm water improvements and “other related infrastructure improvements related to economic development”. project, according to city documents.

Although the council vote was unanimous, some Whiteland officials made it clear that they were not 100% in favor of using an economic development bond to fund the project.

Council member David Hawkins either abstained or voted against this form of funding from the outset. He voted in favor Tuesday, however, because he said he recognized it was the will of the council and the city to move the tie forward, despite his personal feelings.

“Everyone knows I was for the project, but against the funding,” Hawkins said. “The funding and the project have been approved by the council, so I will try to start encouraging the growth of the town with this in the hope that we will prosper and beyond.”

City Manager Jim Lowhorn also spoke out against this funding method and wanted to pull the project because of it earlier this year.

Although he still disagrees with the city funding these improvements with a TIF bond, he likes the project and thinks it will be good for Whiteland.

“It’s nothing we’ve ever done before. We never asked another developer to do this,” Lowhorn said. “But since it went through the board and approved it, it’s my job to make the most of it and try to work with the developer.”

Another big reason the city was willing to enter into this agreement with Patch Development for this project is that the city plans to construct a new public safety building on the 160-acre Patch property.

The public safety building was a big sticking point that helped convince city officials to accept bond financing, said city attorney Stephen Watson.

The Public Safety Building is still a concept and is likely still a few years away, Lowhorn said. The plan is to build a space large enough for the police and fire departments – both of which need larger spaces. It would also be funded primarily with TIF money.

“It’s definitely something with Whiteland’s expansion and new growth, it’s definitely something we need,” Lowhorn said.

He sees the Gateway at Whiteland project as a whole as a transitional piece to develop the city and move it forward.

“For us to move from industrial to light industrial to apartments, to flex space, to that kind of stuff, and to retail — those are things that Whiteland really needs,” Lowhorn said.

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Buy local, round up, create change https://dorfschaenke.net/buy-local-round-up-create-change/ Sun, 16 Oct 2022 17:02:19 +0000 https://dorfschaenke.net/buy-local-round-up-create-change/ Downtown businesses invite customers to support local this fall Now in its third year, All for Fall is a month-long promotional campaign that runs until October 31. Throughout the month, the eighteen participating businesses invite customers to “round up” their purchases to the nearest dollar in support of four local non-profit organizations. The promotion was […]]]>

Downtown businesses invite customers to support local this fall

Now in its third year, All for Fall is a month-long promotional campaign that runs until October 31. Throughout the month, the eighteen participating businesses invite customers to “round up” their purchases to the nearest dollar in support of four local non-profit organizations. The promotion was launched by the Downtown Development Authority in 2020.

Participating companies include: Akinz, Alpine Arts – The Colorado Showcase, Bloom Floral Boutique, Clothes Pony & Dandelion Toys, Dandelions & Rust, Downtown Ace Hardware, EsScentuals, FoCo Cafe, Fort Collins Tours, LLC, Hearne’s Footwear and Clothing, Juszak Realty , Kansas City Kitty, Old Firehouse Books, Peacock’s Perch, Pinot’s Palette, Rocky Mountain Olive Oil, Stuft Burger Bar, and Wagz Pet Market and Grooming.

The promotion raised over $16,000 and there is excitement for what will be raised this year. Total donations are split equally among four local nonprofit recipients. Participating companies selected the following recipients for this year’s promotion: Animal Friends Alliance, FoCo Cafe, Food Bank for Larimer County and Sexual Assault Victim Advocate (SAVA) Center.

“We are thrilled to be part of the All for Fall promotion again. We have the most remarkable partners and we are grateful that they chose us to be the recipient of this incredible event. For many, the pandemic has exacerbated the problems and challenges those facing hunger were already facing. Add to that rising food prices, gas prices, and inflation, and it becomes extremely difficult to stretch your dollars. We believe food shouldn’t be an impossible choice, so again, we’re so grateful to everyone who comes together to be part of the solution and nurture our community,” said Heather Buoncinonti, Director of Business Development at food Bank.

Animal Friends Alliance, a new recipient of All for Fall, expressed the impact it would have on her organization: “With the support of donors, we are able to help animals like Cocoa Puffs,” said Becca Averitte of ‘Animal Friends Alliance. “Cocoa Puffs was a stray living in a trailer park before coming to Animal Friends Alliance. While there, he developed a terrible ear infection that caused long-term damage to his eardrum. caused him to permanently tilt his head. We got him clean and healthy, but he was still scared of humans. With a little patience and love, he was able to find his home!

Animal Friends Alliance

Animal Friends Alliance was born in January 2020 from the union of Fort Collins Cat Rescue & Spay/Neuter Clinic and Animal House Rescue & Grooming. The two have joined forces to amplify the organization’s community impact and enable programs and services to benefit more people and animals. Animal Friends Alliance is a “Limited Admission Guaranteed Adoption Shelter” for cats and dogs. They limit the number of animals they take in due to space and financial restrictions, but guarantee that every animal they take in will stay with them until they find a good home. They offer subsidized spaying and neutering for dogs and cats, and provide preventative health care.

FoCo Coffee

FoCo Cafe’s mission is to build community by providing nutritious and delicious meals to the people of Fort Collins, regardless of their ability to pay, while using primarily local, organic and sustainably grown ingredients. FoCo Cafe is Fort Collins’ first non-profit restaurant. Cafe customers set the price for cafe cuisine in this pay-what-you-can framework. The FoCo Cafe intends to build a healthy community and has built its concept on the following values: every human being has an innate dignity and should be treated as such; every duty, voluntary or otherwise, has a value; participating in a community nourishes the soul; everyone deserves to eat nutritious food; everyone needs a helping hand at some point in their life.

Larimer County Food Bank

The Larimer County Food Bank believes no one should go hungry. Their dream is to offer health, hope and humanity to stabilize the lives of our clients and build a vibrant community. The Food Bank is a private, non-profit organization and the only Feeding America clearinghouse for food donations in our county. Each year, they provide food to approximately 37,500 people in need through community partnerships and hunger relief programs.

Advocacy Center for Victims of Sexual Assault (SAVA)

The SAVA Center provides crisis intervention, advocacy, and counseling to all those affected by sexual violence in Northern Colorado, while providing prevention programs through education and training. community education. They envision a culture change that will lead to an end to sexual violence.

Fort Collins Downtown Development Authority

Established in 1981, the Fort Collins Downtown Development Authority uses tax-raised funding to spur redevelopment of the central business district and focuses on projects that benefit the entire community. In 2020, the DDA developed a corporate marketing communications program; this program continues and evolves traditional promotions that add vibrancy and vitality to the downtown district.

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Domino’s route to 8,000 US locations hit by construction delays https://dorfschaenke.net/dominos-route-to-8000-us-locations-hit-by-construction-delays/ Fri, 14 Oct 2022 20:31:24 +0000 https://dorfschaenke.net/dominos-route-to-8000-us-locations-hit-by-construction-delays/ Domino’s unit count growth is slowing due to construction and permitting delays. / Photography: Shutterstock. Domino’s efforts to strengthen its U.S. market face a common problem: construction delays. Specifically, the company said delays in permitting and construction have slowed unit growth, a problem that is expected to persist for at least a year. “We’ve already […]]]>

Domino’s unit count growth is slowing due to construction and permitting delays. / Photography: Shutterstock.

Domino’s efforts to strengthen its U.S. market face a common problem: construction delays.

Specifically, the company said delays in permitting and construction have slowed unit growth, a problem that is expected to persist for at least a year.

“We’ve already signaled that in the United States, between the permitting and construction delays that we’re facing, we’re going to see a slowdown,” Sandeep Reddy, Domino’s chief financial officer, told investors this week. “This downturn has happened.”

“Until we see the permitting and construction timelines come down completely, it will be a headwind, he added.

Indeed, Domino’s U.S. unit growth has averaged about 60 locations per quarter between the fourth quarter of 2020 and the first quarter of this year.

Still, the company only added 22 slots in the second quarter and 24 in the third.

On a percentage basis, that means Domino’s unit count growth fell to 2.7% in the last 12 months, from 3.7% in the same period a year ago.

Domino’s, however, believes its unit growth will return soon because franchisees can generate a return by building new locations. “The demand is very strong from our franchisees,” Reddy said. “That’s why we’re really, really confident that we’re on track to hit that 8,000+ mark.”

Permitting and construction delays in recent months have affected more than a few restaurant chains and have apparently continued, although some supply chain issues appear to have eased. Companies like Noodles and Shake Shack have had issues with building new restaurants in recent months, among other things.

For Domino’s, this 8,000 location mark is a key goal. Just before the pandemic hit, the Ann Arbor, Michigan-based pizza chain made it a key strategic goal to build more locations in existing markets, dubbed “fortressing.” With 6,400 locations, that means it needs another 1,600 restaurants to reach that level.

According to the company, adding more locations per market would generate more take-out sales while improving delivery times and overall service. The company felt the move was key to making it more competitive in the face of growing competition from delivery players.

In other words, he was willing to give up some short-term same-store sales growth in exchange for overall retail sales growth.

It is not certain that the company will achieve this. Retail sales growth has slowed in recent quarters as same-store sales have struggled to emerge from the pandemic, which the company initially blamed on driver shortages but now appears to be impacted more by inflation and spending restrictions on its major consumers.

But that certainly doesn’t hurt the growth of takeout sales. Same-store delivery sales increased 20% in the third quarter, while same-store delivery sales fell 7.5%. Domino’s expects to become more competitive with more traditional fast food chains in the coming months.

Domino’s has also recently used refranchising to further stimulate its growth. The company refranchised its Michigan market, for example. And it recently sold 114 locations in Salt Lake City and Phoenix to 11 franchisees. “The refranchising strategy for us is really more of a growth strategy,” CEO Russ Weiner told investors.

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