| NAME | CHALON AT THE GLEN (“CATG”) |
| PROPERTY | For-sale senior homes to be located proximate to The Glen at Lake Oconee. |
| LOCATION | Greensboro, Georgia at Reynolds Lake Oconee. 1070 Old Salem Road, Green-sboro, GA 30642 at Old Salem Road and Linger Longer Road. |
| PROJECT | Thirty for-sale senior homes of approximately 2,000 to 2,150 square feet with starting base purchase prices of $429,000 to $479,000. In the high-end, Lake Oconee retirement market, customized purchaser upgrades are anticipated. |
| EB5 INVESTMENT | $800,000.00 as the project is in TEA zone |
| PROJECT TEAM | Sugar Valley Capital Partners and Beckham Capital Group. Eric Floyd, managing partner of Sugar Valley Capital Partners, is also affiliated with the Not-For-Profit owner of The Glen at Lake Oconee (Phase One). EB5 Advisory International. Adel Elmankabady, EB5 Advisory International CEO and Managing Owner, is also the Owner and QualifyingBroker of The Vici International Real Estate Brokerage. |
| UNIQUE FEATURES | |
| LOCATION | The site is located in the middle of the greater Lake Oconee retirement communi-ty. Located at the entrance to Reynolds Lake Oconee with frontage on Linger Longer Road, the phase one and two land was purchased from MetLife, the owner of Reynolds Lake Oconee. In addition to Reynolds Lake Oconee, there are other high-end retirement communities surrounding Lake Oconee including Cuscowilla on Lake Oconee, Creek Club at Reynolds Plantation, Harbor Club, and Dell Webb. |
| AGE-IN-PLACE | The Glen is a 114 unit, senior rental community offering independent, assisted and memory care apartments. The Glen is currently 80% occupied .Phase One was designed in anticipation of a Phase Two that would connect to the Phase One and offer for-sale senior homes for the younger, more active seniors [ See follow-ing Site Plan ] . The goal of Phase Two is to offer a “campus” of senior living that allows the seniors to age-in-place from their for-sale homes (for younger, more active seniors) to the higher level of services offered in IL, AL and MC, as needed. |
| SALES NETWORK | Reynolds Lake Oconee is more than thirty years old. With vacant home lots ranging from a few hundred thousand dollars to more than $1.5mm, Reynolds has a national marketing draw to its country club – golf and tennis – boating based retirement community that offers five and a half golf courses and multiple country clubs. Reynolds has a minimal size limit of construction that prohibits homes smaller than 2,500 square feet. The Reynolds leadership and sales team supports (and wishes to market) the smaller CATG smaller homes for two reasons: (1) CATG gives the Reynolds sales network a smaller, entry level product to sell, and (2) CATG offers downsizing opportunities by existing Reynolds residents and the Reynolds sales network the opportunity to resell those home. |
| CC MEMBERSHIPS | Reynolds Lake Oconee offers a unique country club structure where when a lot is purchased, if the purchaser does not purchase a minimal country club membership, any future purchaser of that lot or home is forbidden from purchasing a country club membership. Lot investors and homeowners have almost always purchased a minimal membership to protect the value of their asset. Once existing homeowners wish to downsize, they want desire to retain their membership and the friends that they have made. For CATG purchasers only, Reynolds will allow them to retain their CC memberships.For first timebuyers, Reynolds is also creating a special membership for just CATG purchasers that allows access to two golf courses and a few select country clubs. Only CATG will receive this CC Membership options. |
| CROSS SERVICES | The Glen (Phase One) will offer cross services for interested residents of CATG. These are anticipated to include select private dining and invitation to special events such as Super Bowl parties, holiday celebrations, etc. Access to the well-ness center and related physical therapy, home health services and concierge ser-vices offered at The Glen. |
| MARKET DEMAND | Dell Webb is the primary competing for-sale product in the area. The final phase of Dell Webb is about to be completed. Additionally, in the past year, some ag-ing seniors are relocating to Presbyterian Village in Athens, Georgia, a CCRC (Continuing Care Retirement Community) that requires a $350,000 upfront ad-mission deposit plus monthly rental and service fees. The attraction of the CCRC is the higher level of services. By moving into CATG, the resident can purchase a home for $429,000 base price; own it; and then purchase services from The Glen ala carte while not having to relocate away from established doctors, friends, family and church based group. If the CATG residents needs higher levels of care in future years from The Glen (Phase One), they may simply relocate to The Glen while keeping their same networks of friends and support services. |
| For more information contact: Adel Elmankabady 678-640-9810 adelelman@gmail.com |
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