The Gary Indiana Revitalization Project involves the redevelopment of Gary’s Downtown Business District and the connecting neighborhoods. It is intended to benefit development initiatives and open the doors for new businesses and patrons in the area.
The first development project, Broadway Project One, LLC involves the redevelopment of 624 Broadway with approximately 6,250 square foot retail development space. The project is located on Gary’s main downtown street, Broadway, and is walking distance from City Hall, the Metra Train Station, US Steel, and the city’s minor league baseball stadium. The project site is on the west side of Broadway Street, midblock, near the Centier Bank Building.
The project site is one of two buildings on the west side of broadway that is not being redeveloped by the city of Gary, as it is privately owned.
The commercial project includes 6,250 square feet of retail space that includes office spaces in the basement. It is expected to be renovated, operational, and leased by 2019.
624 Broadway is a historic building that was constructed during the turn of the 19th century. Broadway Street and Fifth Avenue were designated as the two principal thoroughfares. Running from the south end of town northward toward the main gate of the steel mill, Broadway Street served as the main commercial strip.*
The city of Gary is presently concentrating its efforts on renovating the Downtown Business District. In August of 2018, US Steel pledged $750 Million towards the renovation of its plant and the beautification of the surrounding downtown areas. Downtown Gary is also home to a public art development funded by former New York City Mayor, Michael Bloomberg.
More Gold Investor’s Co- Founder Francine Anderson
Francine Anderson is the youngest in a family of 5. er father migrated to Chicago from Greenwood, Mississippi. Her mother migrated to Chicago from Brookhaven, Mississippi. Both were fleeing the racism, violence, and lack of opportunity that plagued the south.
Her parents understood the value of hard work and the acquisition of land. Before they were married, they individually built portfolios of real estate and businesses. They merged their portfolios after they married and continued to buy more real estate on Chicago’s south side and in Mississippi.
Throughout her life, Francine watched her parents buy properties, fix them up, and rent them out. That's how she got bitten by the real estate investing bug.
Francine worked in corporate finance as a financial analyst after completing her BA in Finance at Clark Atlanta University. She later worked as an Illinois Realtor while investing in properties in Chicago’s Englewood and Washington Park neighborhoods.
Francine, her husband, and children recently settled in the Horace Mann area of Gary, minutes from the Downtown Business District. She and her husband were attracted to the city for its vibrant entrepreneurial potential.
Francine is currently an active member of Northwest Indiana Creative Investors Association, the co-host of the real estate podcast More Gold Investors Podcast, and an investor in Gary Indiana.
More Gold Investor’s Co- Founder Lakichay Nadirah Muhammaad
Lakichay Nadirah Muhmmad affectionately known as “The Queen of Self Improvement” and “The Wellness Angel” has an extensive background in the healing arts.
This international bestselling author, speaker, earth steward and community leader is committed to the awakening and refinement of the indigenous family.
As a Wholistic Health Practitioner, Lakichay Nadirah has spent the majority of her life helping her community to experience healing and wellness in their lives both mentally, physically, spiritually, and emotionally.
In understanding and accepting the full meaning of “Wholistic” Lakichay Nadirah understands that in order for any community and individual to experience complete wholeness they need to be fulfilled in all aspects of their lives.
While pursuing her graduate degree at the University Of Illinois Jane Addams College Of Social Work, Lakichay Nadirah decided to increase her knowledge by earning a concentration in the area of Community Health and Urban Development. This specialized training led Lakichay Nadirah to discover the concept of building CDC’s (Community Development Corporations). Learning more about CDC’S and how they are designed to focus on the revitalization of specific neighborhoods and encourage community involvement and ownership, Lakichay Nadirah realized that her skill set as a Wholistic Health Practitioner provided her with an extraordinary edge that could support her desire to transform the lives of communities using the Wholistic Health model.
With an extensive background and training in the world of Real Estate Investing, Philanthropy, and Community Building this wife and mother is able to effectively marry her skills to aid in the transformative rebirth for individuals, families and communities.
As the founder and Chief Inspirational Officer of The Center for Self Improvement Wholistic Wellness and Transformation, a “one stop shop” wellness center, Lakichay Nadirah prides herself on knowing that she is able to help her clients in their desire to obtain optimal health and wellness.
Wholistic wellness encompasses it ALL say’s Lakichay Nadirah, “treating the WHOLE person and not just half allows you to look deeper into every aspect of a person’s life which includes their financial, social, and community wellbeing.
As the Co-Founder of More Gold Investors Lakichay Nadirah desire is to serve her community through providing resources and trainings that result in community revitalization and development which will ultimately lead to a more sustainable and enriched community.
What will Broadway Project One, LLC do with the space?
The property is 6,250 square feet. After the rahab It will house 3 retail establishments. Broadway Project One, LLC will lease the property to businesses coming into the downtown area. There will be one upscale restaurant, one tech center, and one work share space average from $1,200 to $1,400 per month with projected to annual rent / net operating income of $46,800 per year. We estimate expenses to be about $18,720 per year. Net Income $28,080.00
Based on these modest projections, we can offer 10% per investment of $100.
|Use of Funds|
|Funding||Minimum Raise||Maximum Raise|
|Rehab $68.36 per sq. ft.||0%||67%|
Minimum Raise: $35,000
Maximum Raise: $107,000
Number of Shares: 1400
Price per share/unit: $25
Minimum Investment: $100
Property Estimated Value: $70,000
|Price Per Share||$25.00||Property Use Type||Investment|
|Building Size||6,240 SF||No. Stories||1 /3 Units|
|Property Type||Office||Building Class||C|
|Property Sub-type||Office Building||Tenancy||Multiple|
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