Aruka Midway
Urban revival. Investing in the community, block by block.
After a period where many homes were vacant for as long as 20 years, Baltimore City, also known as “Charm City,” is in a period of revival. This investment opportunity is into the first phase of the Aruka East Baltimore Midway revitalization project which is expected to add to that revival.
Show MoreJoanna Bartholomew is the CEO and founder of O’Hara Developments, the developer of the Project.
She has combined her years as a Social Worker with her passion for financial education to help individuals reach their level of financial success. As a Licensed Financial Coach, she has specialized in services for business owners, institutional financial management, and families of all income levels to create financial plans of purpose. After years under the real estate arm of her father, Bartholomew Construction, Joanna took her gifts from social work and finance to birth O'Hara Developments, a community development company that focuses on the heart of the people and the quality of their living.
- Blight to right. Helping to transform a neighborhood
- Re-use. Two blocks of vacant buildings into market rate and affordable housing
- Opportunity for investors. In an Opportunity Zone
- Opportunity for homeowners. Down payment assistance
- Triple bottom line. Offering a return to investors, the neighborhood and the tenants
The Project is situated in East Baltimore Midway, a revitalizing neighborhood in East Baltimore and a federally designated Opportunity Zone. East Baltimore Midway neighborhood began developing in the mid-nineteenth century as a part of Baltimore County. In 1888 it was included into Baltimore City and began to change with the construction of the "belt line" of the B&O Railroad beginning in 1894. Before the end of the century the row houses on the 500 block of E. 22nd Street, those being restored through this Project, had been completed.
Show MoreThe Company intends to qualify as a qualified opportunity fund, or “QOZF.” This section summarizes the rules regarding QOZFs and the potential tax benefits for Investors. However, we are not tax advisors. Every Investor should consult with his or her own tax professional concerning an investment in the Company in general and the possible effect of the QOZF rules in particular.
Show MoreThe Company is engaged in two simultaneous offerings of its securities: An offering under Regulation CF (where anyone can invest), which we refer to as the “Reg CF Offering” and an offering under SEC Rule 506(c) (where only “accredited Investors” can invest), which we refer to as the “Reg D Offering.”
Show MoreTotal acquisition and development costs of approximately $4,662,000 will be financed with a bank loan of approximately $2,787,000 million. The loan amount is calculated as 75% of loan to project cost, or $3,496,500, less the required down payment of 20% or $699,300 to be raised through this offering.
Show MoreUnder the LLC Agreement, all distributions will be made in the following order of priority, after bank loans have been repaid. Preferred return:
Show MoreA crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment.
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- $25,000 minimum investment
- ACCREDITED INVESTORS ONLY
- 17.04 - 25.81% IRR anticipated
- 1.6 - 1.99X equity multiple
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