We purchased the Broughton Street property last May with the goal of redeveloping it into a boutique hotel featuring eight short-term rental units, totaling 40 bedrooms, along with a rooftop pool.
Up until now, our team has completed the demolition phase and finalized the associated punch list.
Looking ahead, our focus is on securing the building permit and getting ready to move into the construction and renovation stage.
As development progresses, this project is designed to generate development fees for the fund. As the fund manager and developer, we have chosen to share those fees with investors through quarterly distributions.
