A very interesting organization called CoolTown Studios is offering access to $40 million for CoolTown real estate development projects - seems some projects in Cleveland and environs would fit their criteria - and their concept may be a good model for the Community Development Venture Capital Fund [1] we are developing for NEO. See the criteria at the CoolTown website [2] and posted below...Â
$40 million equity fund for CoolTowns
Got a cool project? CoolTown Studios is helping $40 million in real estate funds invest in model urban infill developments, $2-$7 million each. This typically translates to $10-$20 million developments. The underlying philosophy of the fund sources? They want to set a new standard for quality and innovation in real estate development. The fund is ideal for developing a model example for the surrounding neighborhood.
Here is the basic CoolTown project criteria
Here are the basics of the financial criteria:
In addition, invested projects will have an advanced technology infrastructure, an added expertise of the fund's management team. It will also have the potential of tapping into a 'beta community' of qualified residential and business tenants well before construction.
Links:
[1] http://neoexcellence.realinks.us/NEO-CDVC-Fund
[2] http://www.cooltownstudios.com/mt/archives/000453.html
[3] http://smtp.realneo.us/neo-excellence-roundtable-0
[4] http://smtp.realneo.us/events/05-24-05-neo-excellence-roundtable-invitation-may-2005