Warehouse Redevelopment

The property - 43,000 sq. ft. on 2.5 acres - is positioned within one mile of Main St, in the Poe Mill neighborhood between Pete Hollis Blvd and Rutherford St / Poinsett Hwy. There are nearly a dozen ongoing or planned projects in the immediate surrounding area along the Poinsett Corridor, Pete Hollis corridor, and Swamp Rabbit Trail.

Business Model

Chapel is not meant to follow a conventional office and retail model. We are curating an experience through partnerships, rather than hoping there is interest from businesses looking for a lease. We believe this approach will reduce vacancy risk, capture more of the profits, ensure a strong community of tenants, and attract businesses from across the region.

A Poe Mill Partnership

Showroom Space

Chapel will host a retail space showcasing the amazing woodworking products created by those who Soteria serves. This will help generate more awareness of the program, more revenue to Soteria, and expand the professional opportunities for those going through the program.

Job Creation + Placement

Direct jobs within Chapel will include construction, commission of furniture for the space, restaurant operations, property management, and internship opportunities with tenants. The network of Chapel partners and tenants will also work to find new opportunities for Soteria members throughout the city.

Financial Education + Training

We will work together to provide financial education to those who are learning new skills through Soteria. On both a personal and professional level, this is a crucial aspect to long term progress and wealth-building.

Wealth-Building Opportunities for Our Neighbors

Chapel will help provide access to capital for business ventures, innovative rent-to-own products for office and residential space, and aim to share our success with our neighborhood.

History

The Poe Mill community is one of the few close-in neighborhoods with very little previous investment or growth opportunities.

Present-day, there is crime, homelessness, poverty, etc. but there is also a strong spirit of resilience to tap into. The Poe Mill community is a predominantly Black and Latino under-resourced community in Greenville County. The Poe Mill village community began with a promising spirit in 1895, around a mill built by Francis William Poe.

The community began to decline after the mill closed in 1977, and eventually burned down in 2003. Now nearly 80% of the homes in the area are investor-owned as Poe Mill is one of the last neighborhoods to feel the burn of gentrication.

This building has been vacant since Taylors Windows moved out in 2017 and the previous owner failed to lease it as industrial space. Originally a bakery for the village, the redevelopment and revitalization of this central location has the potential to increase the quality of life in the Poe Mill community.

Timeline

Current Property Photos 

Renderings & Plans

The Site

• This offering is for an equity stake in CHPL Real Estate, LLC.
• The minimum investment is $500 with a share price of $100 each.
• The targeted return is 10% annually on your invested amount, paid out quarterly.
  (Dependent on the available cash flow after all expenses)     
• As an equity holder, any future sale of the property may result in an appreciation or depreciation of your original invested amount. (Note, you cannot lose more than your invested amount)

•     The Goal raise is $100,000 - $250,000

Use of Next $100k of Funds

1. Final design/architecture: $45,000

2. Civil engineering: $25,000

3. Permits and legal: $30,000

Use of Funds from $100k to $250k

4. Landscape architecture: $15,000

5. Initial site work: $150,000

Investor Perks

*This projection information is provided by Chapel Real Estate LLC. Vicinity never predicts or projects performance, and has not reviewed or audited this financial forecast.

Projected Rev, NOI, and Cash Flow

Summary of Terms

1. We have a limited operating history upon which you can evaluate our performance, and accordingly, our prospects must be considered in light of the risks that any new company encounters.

2. We have not prepared any audited financial statements.

3. The Company’s business operations may be materially adversely affected by a pandemic such as the Coronavirus (COVID-19) outbreak.


4. A disruption in the credit markets and/or the curtailed availability of financing may adversely affect our business and results of operations.

5. We are subject to risks that affect the retail environment, including adverse weather conditions and natural disasters, which could negatively affect consumer spending and adversely affect the sales of our retail tenants.

6. General economic conditions could have an adverse effect on our business and results of operations.


• CHAPEL Real Estate LLC has filed a Form C which can be found here.
• Vicinity will be compensated upon a successful raise at 8% of the total amount raised.
• There is no cost for investors to invest, though Vicinity will receive a 1% transaction fee on all payments from CHPL to investors that will be withheld from the payment to investors.