Have you ever had a hard season that, while difficult, was also really clarifying?
That has been the last few weeks for us.
We were ready to break ground.
We were at the finish line with a bank for the construction loan to get the remainder of the capital we need.
They had given us the verbal agreement on the loan.
And then out of nowhere the bank reversed and is waffling on the loan.
The timing of it coincided with all the economic news about the feds, and the interest rates probably not being lowered this year, and sticky inflation, and all that fun stuff.
While it wasn’t surprising (we’re used to challenges and pivots), it was it discouraging in the moment.
It was also really clarifying.
As Melissa and I talked, it brought to mind a few things:
It reinforced more than ever that, despite the stress and challenges, this is a dream and vision we feel so passionately about bringing to life!
It reminded of us what really mattered— which is serving y’all. Building for y’all.
It’s not a “no” from the bank, but it is a delay as we have to have more conversations and provide more data (most of which we already provided months ago… but hey, who’s counting?).
There are also other levers that we can pull and had ready in case of a moment like this.
We are getting those in motion so we aren’t locked into just waiting for this one bank or aren’t flatlined if they end up saying no.
What does this mean for you?
It doesn’t change anything in regards to moving towards pre-booking.
It does push back our opening to Spring 2025.
(IF you are a VIP/Founding Member this is specifically for you:
We want to emphasize — Your deposit is safe. It is in a separate account and is untouched. Your deposit is for your stay. The money we are financing is for the buildings. Want more info? If you haven’t joined our VIP Facebook group yet, check your email and please join! We have Live Calls, more current updates, and real time conversations happening we’d love for you to be a part of!)
We’ve always been committed to transparency with y’all.
You are seeing the REAL life, real time challenges to make this happen, but we so believe the fruit of this effort will be worth every obstacle we have to taken on.
Thank you for believing in us and being on this journey with us.
If you have any questions or want to chat about it— please email us! We are always happy to respond or, if needed, jump on a phone or zoom call.
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