Request For Line Of Credit
Roger Morgan, owner of Steelheart International, is seeking investment capital of up to $4.5 million to acquire, partially develop and map 187 acres of land in Grass Valley, Nevada County, California.
Description of the Property
The North Star Ranch is 187 acres of beautiful ranch land, located in Grass Valley, about 1 mile from the Nevada County Fairgrounds and about 2 miles from the center of town. It is across the street from Sherwood Forest, a nice subdivision. It consists of 5 legal parcels zoned IDR-PD (Interim Development Reserve – Development Base District). It is one of the last large parcels in Nevada County according to County Staff, and they are interested in a master plan for development. Short term, one can build 5 houses and pursue agricultural uses. The price is $2.4 million with terms, or $2.1 million for cash. The price is very reasonable even for ag land. This property has excellent potential for some combination of industrial, commercial and residential development, all of which fits our short and longer term goals. Grass Valley is contiguous to Nevada City, both historic gold towns. It is about 20 minutes to Auburn, and one hour to either Sacramento or Lake Tahoe.
Conceptual Plan For Development
The mapping and entitlement process for longer term development will take an estimated 24 months (+/-) to get to tentative map, so the intent is to do what we can do with existing zoning with agriculture at the core. Short term uses will be designed to compliment and not conflict with longer term development, and focus on contributing to positive cash flow. The Eco Village on one of the 5 parcels centered around a dome for aquaculture and hydroponics, will produce organic products for the general area, and create jobs and opportunities for many. The vision for the longer term development is for a five star Tuscany style resort/residential development, possibly immersed in a vineyard or orchard, but with an abundance of open space that can be used for grazing. The goal is to retain as much open space as possible. The county advises we can go with 1.5 acre parcels with septic systems since we have district water. With a sewer, a resort/residential development is a possibility. The Grass Valley sewer hookup is 1.3 miles away, if we can join.
NORTH STAR RANCH
Grass Valley (Nevada County), California
Contact Roger Morgan, CEO, Steelheart International, (916) 434 5629. Rogermorgan339@gmail.com