Settlement

It’s official! Community House now belongs to Compound Impact. Settlement passed without a hitch thanks to our fantastic realtor Yuriy, from TrustArt Realty. Now on to the fun part…

With keys in hand, it’s time to get right to work on the rehab so we can get a refugee family placed as soon as possible. Not only do we want to get a family into a safe home as soon as possible, but every week that the house is not rented is another week of expenses without income.

The contractors were able to walk through the property before settlement and develop a full scope of work for the repairs needed. A scope of work is a contractor term for a detailed list of all the work that needs to be completed on a given project. In total, repairs and upgrades for Foundation House are projected to cost between $25,000 and $30,000.

What’s Next?

It’s rehab time. Our general contractor will be bringing in a number of subcontractors to complete a variety of upgrades and repairs over the next few weeks to get the house into top shape before move in day. At the moment, we are aiming to have a family placed in the September timeframe.

With a move-in day set, we will also begin to work with the resettlement agencies to match a family to our impact home. With 3 bedrooms, the most likely match will be a larger family with several kids.