Performance Center: June 2023

Multifamily Developers,

MCRE presents an exceptional opportunity for a multi-family housing development project at a distinctive location: our Performance Center, which is currently owned and operated by Great Life.

The Performance Center is available for purchase at a sales price of $2.6 million. The site is composed of five assembled properties that span approximately 2.74 acres. The main building, boasting a significant footprint of 56,907 square feet, forms a considerable part of this property. We believe this particular location offers a prime opportunity for the creation of loft-style living, complete with a host of amenities that could be repurposed to enhance the living experience.

Our vision includes retaining unique aspects of the current facility, such as the pool, spa, and walking track. These features would distinguish the development and contribute to an appealing, modern living environment for future residents.

We have engaged Bryan Falk, a renowned architect, to create initial floor plans for potential developments. Preliminary layouts suggest the capacity to comfortably accommodate 40 to 50 apartment units within the existing building. Furthermore, Kenny Blair from Cook Flat and Strobel has conducted a comprehensive structural survey of the property and found it to be solid and structurally sound, reinforcing our belief in the viability of this project.

Beyond the existing structure, the size of the site leaves ample room for potential expansion, allowing for additional units to be developed, effectively enhancing the scope and profitability of the project.

While our preference would be a direct sale, we understand the dynamics of such projects and are therefore open to discussing various formats of development agreements. If you find this opportunity aligns with your company's interests and vision, we would be more than willing to explore different avenues to realize this project.

We invite you to inspect the site, review the proposed plans, and explore the exciting potential this development offers. We're confident that this is a unique opportunity for a multifamily developer to convert the existing building and possibly extend it, creating a remarkable residential offering in our community.

Please feel free to contact us at your earliest convenience to discuss this opportunity further or arrange a site visit.

We look forward to the sale or the possibility of partnering with you on this exciting project.

Henry McClure