407 N Walsh Dr
Casper, WY 82609

Transaction Highlights: • LAND PRICE: $1,499,000 • Size: 4.8 acres • The development will be through a third-party financing institution. • Total estimated cost of development with land: approximately $18,000,000 for an up-sized 100 unit building. • Investors will take ownership in a yet-to-be-formed new or existing corporation(s) and will own a majority of the interest in the corporation. • All management and staff will be hired in the due course. • Investors are to be the overall supervisor of the business. This offering memorandum will describe the market background, and operator qualifications and illustrate plans for the management, operations, development of sales, and marketing for this Independent Housing facility as well as the continuing management of their existing hotel operations. Executive Summary: Based on the proposed concept, the assisted living & senior independent housing project would: • Be modest in scale – 80 self-contained apartment units of 4 different sizes/unit types, plus amenity space for a total buildable area of 77,530 sq ft (GFA), however, the project could be up-sized to 100 units or approximately 92,000 sq ft. • Include basic amenity space - laundry facilities (2 pairs) and a small indoor common area for gathering/socialization, dining/ kitchen, c-store, game room, meeting room, fitness spa, library, and other common areas such as a theater and grocery store. • Accommodate senior mobility needs – providing safe, indoor access to apartment units while incorporating visibility and accessibility throughout units and common spaces. • Support basic affordability – all units would be rented and offered at or below average market rent level. Rents for the units could be lowered to an adjustable of average market rent if necessary. • Be procured as new construction – this approach would enable a four or five-story structure with a slab-on-grade building, a cost-effective double-loaded main corridor, a wood frame structure, and a standard sloped roof. • Incorporate practical sustainability features that promote energy efficiency. • Be situated on a parcel on Walsh Ave., land currently owned by JJM Group Hotels. • Be procured through a formal design/tender process (stipulated price contract). • Be financed using a conventional mortgage that is insured, as well as an additional equity contribution towards funding or non-funding options. • Be owned by a newly constituted non-profit housing corporation • Be managed by JJM Group Hotels or a future investor, management group, or a regional or national corporate operator, should they be agreeable to take on that role.