by Spencer Kemp
Local Journalism Initiative Reporter
During the Moosomin Chamber of Commerce meeting last week in the Nutrien Sportsplex, chamber members were given an update on the long-term care/assisted living facility by Larry Scammell of Kohr Capital and Travis Penner of Bridge Road Developments.
Scammell says that he and Penner had plans to be in Moosomin to attend the meeting in person but were unable to. They will be in Moosomin this week, however, to complete paperwork with investors and complete the first equity closing.
“Paperwork on the capital has delayed us until next week. We will be in Moosomin next Wednesday to complete the paperwork there and we will have six people lined up to complete the first equity closing for the project,” Scammell said.
He says they will also be meeting with investors to raise the remaining $2.6 million of investment before fall when construction is expected to begin.
“We are setting up meetings now and we will be meeting with investors next Wednesday. We will also be communicating and getting investments throughout the summer to get the final equity raised for the fall.”
Travis Penner from Bridge Road Developments explains they have selected a consulting firm after reaching out to seven firms.
“From a construction perspective, it always appears that nothing is happening until something is happening on site. There are a lot of things that need to line up prior to working on site. The first step is to engage the architects and engineers that are involved in the design of this project,” explained Penner
“We have approached approximately seven different consulting firms and received quotes back from five of them. We have narrowed that selection process down to one through the process of elimination of their quotes and the discussions that we’ve had.”
Penner says that so far things are staying on schedule with construction expected to begin in early fall.
“We would anticipate the plan will be complete by the end of August which would give us roughly a month for tendering and construction could begin in October. We are still on the path of an early fall start with our intention and that is still a path we’re staying on.”
Spencer Kemp, Local Journalism Initiative Reporter, The World-Spectator