156 Waterloo, LLC | Application Preview
156 Waterloo, LLC is seeking government grants to fund structural repairs and complete the interior build-out of a property to meet tenant requirements and comply with local building codes. This family-owned business specializes in purchasing and rehabilitating distressed properties, contributing to neighborhood revitalization. Over the next five years, they plan to continue this mission and aim to engage with the local community for the redevelopment of adjacent land they own, further enhancing the area's growth.
The request for funding is grounded in their commitment to improving low-income neighborhoods and creating new opportunities for local residents. They view their efforts as foundational work that can help attract investment and development to areas typically overlooked by larger developers.
In terms of competition, 156 Waterloo, LLC does not regard other similar operations as rivals but as partners in neighborhood improvement. They have successfully transformed neighborhoods, making them appealing to larger developers, thus contributing to broader economic growth. Their competitive advantage lies in their grassroots approach and dedication to fostering community-driven redevelopment.
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General Information
Business Registration Number: 156 Waterloo, LLC
Location: cleveland, OH, United States
Length of Operation: 1-5
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
We plan on using the funding to complete structural repairs and build out the interior space to fullfil the tenat's requirements as well as satisfy all local building codes and regulations.
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Business Plan
We are a small family business that has a track record of buying distressed properties and rehabing them and successfully renting them out so that they bring new life and opportunities to the neighborhood. In the next five years, we plan on continuing this effort. We own the land next to the building that is in the final stage of restoration (the building for which we are requesting funds to complete). Ideally, we will work with the local community to determine the best use for this land and to come up with a plan for its redevelopment, thus continuing the renewal of the neighborhood. We are very commited to improving low income neighborhoods and to providing opportunies for growth and contiuned development in these communities. We are a small part of the backbone of struggling communities that have been overlooked by the mainstream developers. We feel that the rehibilitation of disregarded neighboorhoods starts with one small step, such as our building rehab. This lends a foundation for other development and brings much needed opportunites to the residents of overlooked neighborhoods.
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Self Identified Competition
We do not consider the people who do what we do, on the scale that we do it, to be competitors but rather allies. Some the neighborhoods in which we have completed rehabs have gone on to become very desirable. At that point, the large developers come in. We are obviously not competing with them as much as laying the foundation for them. See above
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