WCMIF - 223 St. Limited Partnership - 11575 223 Street, Maple Ridge, BC

https://addyinvest.ca/2023/08/10/wcmifs-223-street-in-maple-ridge-bc-is-now-available/ "Issuer Requirements; Issuers must satisfy several conditions to make distributions under the start-up crowdfunding prospectus exemptions in NI 45-110: The issuer cannot be a reporting issuer or an investment fund." "In March 2023, the Issuer completed the purchase of the asset for CAD 7,350,000. To secure the deal, the Issuer obtained a Refundable Deposit of CAD 1,050,000, resulting in a final acquisition price of CAD 6,300,000. The Issuer intends to build upon the lands located at 11577 223 Street, 11587 223 Street, and 2300 River Road, Maple Ridge, BC, Canada. The Issuer expects the construction to last from 17 to 19 months beginning in November 2023 and completing in the Spring of 2025." "To fund the project, the Issuer is planning to secure a total of CAD 7,723,070 in debt financing and a Deposit Protection Insurance of CAD 5,717,677. The Deposit Protection Insurance will be provided on funds held in trust as 20% of the presales deposit. The total equity required is estimated at CAD $11,446,000." "On August 9th 223 St. passed a significant milestone: We submitted the project’s Building Permit Application at the City of Maple Ridge! The tender process for construction is scheduled for Nov/Dec 2023 with construction scheduled for Spring 2024."