Hello Team,
I hope everyone is having a wonderful weekend. I have an important update to share with you, with a mix of good news and some challenges we need to navigate together.
Firstly, we've received confirmation from the realtor regarding potential viewing dates for the Mud Lake property. Below are the options provided:
- Monday, May 13th
- Wednesday, May 15th
- Friday, May 17th
To streamline our decision-making process, I'll be creating a poll below. Please vote for your preferred date, keeping in mind that some schedule adjustments may be necessary for us to attend. The Monday or Friday option will likely work best for our out-of-town members.
Now, onto the not-so-great news. It seems the owner has decided to reside on the property with their family for the upcoming summer. While this may impact our plans, especially our building and maintenance team, it also presents some opportunities. During their occupancy, they'll be conducting necessary upgrades, including new roofs, eavestroughs, and fascia for the existing 40,000 square feet of space. Although this decision delays our purchase until September and raises the purchase price from $4,490,000 to $5,000,000 (with an assessed value in 2024 of $5,126,000), it aligns with our original intention to upgrade the property before the rainy season.
The increased cost, particularly for the roofs, is higher than our initial estimates. However, there may be additional upgrades planned that we'll learn more about in the coming weeks. We had intended to incorporate these costs into our initial lending amount to ensure timely completion before the rainy season anyways. Previously, we also assumed an external team would need to be brought in for these upgrades which was an additional cost that we were already budgeting for.
I'll also be attaching the blueprints we've received, although some may be outdated or pre-renovation. Despite these challenges, we remain excited about the potential of this property and look forward to exploring it together.
Thank you all for your continued dedication and flexibility as we navigate these developments together,
Jessica Rawsthorne
190320_2080_Lakeview_Rd_Zoning_SD-64.pdf200106_2080_Lakeview_Road_Building_Descriptions_and_Floor_Plans.pdf230501_2080_Lakeview_Road_Listing_Brochure.pdfOriginal_site_plan.pdf
Locked
