Real estate for Emeralda
A different financing plan
Walking down Roy street one day I came to an empty building. It has been empty ever since the Drachan Foundation moved. You may recall Ali Fujino was the Executive Director, and Scott Skinner is the Drachan’s board president and they both own Halfwood Presses.
The building at 400 Roy Street is a one-story office building and it is, at present, a sore-eye in the neighborhood.
I started thinking about this building, wondering if it could be the home of the new factory school of printmaking. With a footprint of 5,000 square feet, and zoning to grow a higher structure, it’s the right size. It’s in the right neighborhood. The building is under-performing, as they say in real estate investing, I think.
After some thought, it occurred to me that to get investors to finance the new factory school of printmaking, perhaps their investment should be on real estate, first, and performance (the products and services—i.e., the factory school business) second.
Who would prefer a real estate investment over a factory school? Almost everyone, I believe.
Real estate that pays its way by leasing to a profitable venture is a good real estate investment. Investors in real estate who buy into the venture, knowing the mission of the lessor and believing in it, could be more assured of a good ROI.
Investing in education is the long-term plan, and investing in a product and service of good design is as good a bond as you can get today.
The new factory school of printmaking is based on learn-by-doing, and is built around several strong trends. One, specialized art equipment; two, online education; three, games. There is a fourth element—chocolate (more about that some other time). The mix is complicated and is enticing to people in the arts and education for that reason.