Bishop | Brainerd
BWC looks at the values in a community as interconnected systems. Each system plays a role in the well being, health, resilience, and strength of a community.
More About This Property
Bishop 1 as we call it, launched the BWC partnership. The project was our largest to that point, major renovation plans and a complete turnover of the tenant base in 18 months was the target. We met that goal and were able to refinance 80% of the original capital out of the deal at that point.
Nothing demonstrates the transformation more dynamically than a short story. In 2019, the block club president asked if we would be willing to sponsor and host a block party at our building. We were happy to help. In the weeks leading up to the event,we found out that in years prior, the block club was not even sending invitations to the residents of Bishop 1.
When BWC came in we brought Capital, Commitment, and Connections. Perceptions changed and opportunity for new outcomes presented itself. We’re different, and we’re proving it.
Price per door: $36k
All initial invested capital (~385k) was returned to investors by Q4 2020.
Purchase price: $1,000,000 (2018)
Appraisal: $1,330,000 (2019)