GC Properties | Application Preview
GC Properties is seeking government grants to develop an affordable senior housing community on 2.5 acres of land they own, ideally situated near grocery stores and other shops. Their business plan focuses on constructing rental units specifically designed for seniors, allowing them to age in place comfortably. In four years, the company aims to eliminate its mortgage and own five properties outright, which includes three duplexes and two homes.
The funding application highlights GC Properties' strong track record in providing quality affordable housing over the past decade. The co-owner, a licensed contractor, brings expertise in managing construction costs, while the other co-owner, an occupational therapist, is skilled in creating living spaces that support seniors' needs. This dual expertise addresses the growing issue of seniors who require assistance yet cannot afford independent living facilities or do not qualify for nursing homes. The applicant draws on successful senior housing models from Australia, emphasizing the importance of community and support services.
Currently, within a 100-mile radius, there are no local affordable senior housing projects, with the nearest option being a mobile home community 15 miles away, which does not meet Long Beach's approval standards. GC Properties believes their extensive experience in residential rentals, commitment to safe and affordable housing, and genuine care for community wellbeing will position them as a leader in addressing this pressing need for seniors.
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General Information
Business Registration Number: 611710822
Location: Long Beach, MS, United States
Length of Operation: 6-10
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
To build affordable senior housing community on two and half acres we own outright, conveniently located within walking distance to shops, including grocery store.
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Business Plan
Build and rent affordable housing designed specifically for seniors to age in place. Current mortgage will be fully paid within 4 years to own 5 investment properties outright (3 duplexes and 2 homes). Proven track record for providing quality affordable housing last 10 years. As Occupational Therapist have skills to design appropriate housing to help seniors age in place at home and co owner is licensed contractor to ensure building expenses are affordable. Many seniors struggle to live at home, yet cannot afford Independent Living facility and do not need, nor qualify for Nursing Home. As Australian born, am aware of many of Senior Housing communities in Australia that successfully promote happy & healthy ageing at home with support services available (for affordable fees) if needed by the tenants.
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Self Identified Competition
There are no local affordable senior housing projects within 100 miles. There is a retirement community with 15 miles away with mobile homes; the tenants own the mobile home and lease the land. Mobile homes with land lease would not be approved in Long Beach, where we own 2 1/2 acres perfectly located for a Senior Housing community. We are owned by Licensed Contractor with over 30 years experience and Occupational Therapist with over 30 years experience, we have co-owned and operated successful residential rental company for over 10 years. We understand the need for safe, comfortable and affordable housing and we care! We want to help improve the quality of life for our community!
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Contact Applicant
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