This announcement comes on the heels of LoftWerks' procurement of a $20 million dollar, third-party funding arrangement for use in project development. This loan, obtained through the efforts of Consultech Construction and its Director-General Petar Vucicevich, will be used to implement various aspects of LoftWerks' overall concept of advancing the revitalized urban lifestyle.
LoftWerks Inc. recently announced its plans to begin two additional urban renovation projects in Nashville. The projects are a refurbishment of a single large office building into approximately 50 condo units and the renovation of several adjoining buildings into residential units.
Both of the projects will include retail and commercial space on the ground floors. The combined value of the two projects is estimated at $50 million. The projects follow the Ambrose Building renovation in Nashville, which is nearing completion.
"The impact of these three projects truly puts us in the forefront of the effort that is right now transforming downtown Nashville," said LoftWerks CEO Dennis Ammerman. "Our original idea is working as ever, and is creating a magnet for bringing life to the downtown area. We're creating a community where people truly desire to live, because of the lifestyle it offers."
This announcement comes on the heels of LoftWerks' procurement of a $20 million dollar, third-party funding arrangement for use in project development. This loan, obtained through the efforts of Consultech Construction and its Director-General Petar Vucicevich, will be used to implement various aspects of LoftWerks' overall concept of advancing the revitalized urban lifestyle.
"These three projects, and the use of private, third-party funding, are indicative of the approach we've foreseen for years. It is crucial to our task of increasing shareholder value," said Ammerman. "Despite recent market conditions, we are confidant that our approach to third-party financing will instill shareholder viability in the long run, and will allow us bring all of the segments of our overall urban lifestyle vision to the public |
