Sunday, February 17, 2008

Welcome to 209 Capitol BLOG!!

Somehow you found your way to this BLOG which is intended, at this point, as a test. My hope is to provide some illumination for interested parties about the process of developing 209-213 Capitol Street, a historical building located in Charleston West Virginia. The name of my company is PrayWorks. On the 209 Capitol project,I am what is known in the development world as a “fee based developer”, which means that I am paid a fee to manage the development process and do not have any of my own $$ in the deal as an equity participant. The last project I developed is at Snowshoe Mountain resort and is known as Soaring Eagle Lodge. On that project, PrayWorks was the fee based developer and also an equity investor.

So…what does that mean…what are the key deliverables? Well….more of that to follow in days/months ahead…..but basically working with my clients I created a financial template for the life of the building asset and then went to work helping to make the cells on that template or proforma come to life. Items such as hard construction costs, interest rates, income from a lease and so forth all came into my view shed.

I’ll be taking a look at all of these areas in more detail and you will hopefully be able to follow along. Time will tell of course. I’ve never published a BLOG before, so I’m not sure if I have the time available to keep it current.


Dave Pray said...
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Anonymous said...

I'm impressed . . . and you have expanded my knowledge. Keep up the good work!!! Sara