American South Fund Management Invests $13.5M into South Carolina Workforce Housing Development

Preserve At Hanover Park

Preserve At Hanover Park

BEAUFORT, S.C.April 18, 2024PRLog — American South Fund Management (“ASFM”), has provided the joint venture of Portage Properties, LLC, Piedmont Private Equity and Mid-Atlantic Capital with $13.5 million of preferred equity for the development of The Preserve at Hanover Park, a 280-unit workforce housing community now under construction in Beaufort, SC.

ASFM, a joint venture between SDS Capital Group and Vintage Realty Company, made the investment through its $174 million American South Real Estate Fund II, which provides preferred equity and equity financing for real estate sponsors with projects located emerging low- and moderate-income neighborhoods in 10 Southern states (Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas). Through ASREF II and its predecessor fund ASREF I, ASFM to date has collectively committed over $138 million to 23 projects, financing 5,429 housing units – 79% of them affordable to families at less than 80% of the AMI.

The Preserve at Hanover will feature a mix of one-, two- and three-bedroom apartment homes housed in eight garden-style residential buildings on a nearly 20-acre site at 139 Robert Smalls Parkway.

Unit interiors will feature high-end finishes, stainless steel appliances, smart-home technology, and in-unit washer/dryers. Common area amenities include state-of-the-art fitness center, resort-style swimming pool and pickleball courts. When completed, the Portage-led joint venture will deliver the $75 million high-quality housing community to low- and moderate-income households earning 115% or less of the area median income (“AMI”).

This is the third investment ASFM has made with Piedmont and Portage, and now with the additional partners of Mid-Atlantic Capital. Collectively, the financing relationship has constructed 760 workforce and affordable multifamily units.

“ASFM has been key partner in our success, enabling us to continue building quality workforce housing units across the South,” said Walter Hall, Managing Member of Piedmont Private Equity. “All of our partners in the Preserve at Hanover Park are enabling us to bring much-needed high-quality for-rent housing to the community of Beaufort.”

According to a study by Beaufort County, half the renters in the county are rent burdened (defined as paying more than 30% of their income towards rent) with approximately one in five households severely so, which means they are paying more than 50% or more on rent and utilities. Many of these families are living in the city of Beaufort, according to, Deborah La Franchi, ASFM Managing Partner.

“Our mission is to deploy capital to stimulate the development of not just quality rental housing, but housing that is affordable to working class Americans,” she said.

“We are financing affordable and attainable housing units in communities that have a deep desire for this housing yet confront a stagnant supply within their communities,” added David Alexander, ASFM (https://asref.com) Managing Partner.

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Global South cities lead shift to refill systems from sachet economy

Philippines – WEBWIRE

Amid the scourge of plastic pollution in the region, initiatives from cities in the Global South are leading the transition towards reuse and refill systems, showing that these are viable alternatives to the sachet economy.

This is evident in a Greenpeace Philippines report[1] on its project, Kuha sa Tingi (combining the Filipino expression makuha sa tingin or to be taken at a glance, and tingi or the Filipino culture of buying in small quantities), which mainstreams reuse and refill systems in cities in order to reduce single-use plastic (SUP) pollution. The project introduced small-portion refill systems for personal and home care products at highly competitive prices in neighborhood stores, and allowed consumers to refill their reusable containers with the exact quantities they need. According to the report, the initiative avoided over 50,000 sachets, enabled consumers to save an average of 201% when opting for refills over sachets, and increased retailer profit by around 15% during the pilot period of 6 to 8 weeks.

The scourge of sachet pollution by manufacturers is one of the main drivers of plastic pollution in the country.[2] However, sachet production remains largely unregulated, highlighting the urgent need for alternative solutions as well as comprehensive policies to address this problem.

The results of the project underscore the economic viability of refill systems, which are beneficial for both consumers and local businesses. Similar initiatives have been seen in neighboring Indonesia, where the nonprofit YPBB[3] also encouraged consumers to practice reuse and refill by purchasing products from bulk stores, while small businesses such as coffee shops are also shifting to refill.[4]

However, although these initiatives are successful, the lack of policy support for refill and reuse systems, and the reduction of SUP production remain key barriers. Especially in countries dependent on sachets, the report points to the need to legislate and enforce upstream and midstream interventions such as bans on single-use plastic products, a phasedown in production, redesigned distribution systems, and waste-free reuse models to effectively address the plastic crisis.

Greenpeace believes that the development of a strong Global Plastics Treaty presents a massive opportunity to establish standards and regulations that will accelerate the development and transition to reuse and refill systems. Provisions on reuse and circularity can establish a global framework that harmonizes different approaches as well as targets across different sectors. This would fast-track the adoption of sustainable solutions and create support for research and development around these models.

Marian Ledesma, Greenpeace campaigner said: To solve the plastic crisis, governments need to drive large-scale investment in reuse and refill systems, like Kuha sa Tingi, as well as institute strong policies for reducing and eventually eliminating SUPs. Corporations must also be compelled to change the way they do business and stop reliance on SUPs. This will secure environmental justice, contribute to better health outcomes, advance climate action, and protect the well-being of every person. A strong Global Plastics Treaty will enable all these through a just transition away from single-use plastics.

Narciso Marcelo, a store owner from the Philippines, said: Aside from selling products as refills, through this project, I learned that plastic waste has become a large problem in society. Every time we buy sachets, we merely throw them anywhere. If we purchase refills, we will be able to avoid plastic waste altogether.

For more information, check out the full report at act.gp/reuserefill.

Notes:

[1] Greenpeace Philippines, Kuha sa Tingi: Bringing back sustainability into Filipino tingi culture, 2024: act.gp/reuserefill

[2] GAIA, Plastics Exposed: How Waste Assessments and Brand Audits Are Helping Philippine Cities Fight Plastic Pollution, 2019: https://www.no-burn.org/wp-content/uploads/Plastics-Exposed-2nd-Edition-Online-Version.pdf.

[3] Yayasan Pengembangan Biosains dan Bioteknologi (YPBB) is a nonprofit environmental organization based in Bandung, Indonesia.

[4] Bulk Stores and Reuse Initiatives; Reuse in Business Sector: https://reusesolutions.org/stories/

[5] Photos from Kuha sa Tingi stores. Please check the document for captions and photo credit.

Image Caption:

Marian Ledesma, Greenpeace Philippines Zero Waste Campaigner picks up pieces of plastic trash from the company Dove around Freedom Island at Las Pias City, Philippines. This wetland part of Manila Bay, called the Las PiasParaaque Critical Habitat and Ecotourism Area (LPPCHEA), is a 175-hectare protected area. It is always filled with plastic trash that comes from the ocean. The amount of plastic trash here does not stop even with the continuous shore clean-up by various groups. Photo by Jilson Tiu/Greenpeace

South Africans Honor Late Amb James A. Joseph, Russell Batiste & NOSACONN’s 25th Anniversary

Eight South African cultural ambassadors have arrived in New Orleans as part of cultural exchange between South Africa and New Orleans honoring two late cherished Louisiana citizens in coordination with New Orleans South Africa Connection NOSACONN

NEW ORLEANSNov. 3, 2023PRLog — Posted Courtesy of Wright Enterprises Community Spotlight

MEDIA ADVISORY:
CELEBRATING ITS 25th ANNIVERSARY NOSACONN RECEIVES INTERNATIONAL CULTURAL EXCHANGE GROUP PAYING TRIBUTETO LATE U.S. AMBASSADOR JAMES  A. JOSEPH WITH A SALUTE TO RUSSELL BATISTE JR.OF NOLA’S ROYAL FAMILY OF MUSIC TO FOLLOW

WHO:          DAMON BATISTE, New Orleans Cultural Ambassador, Founder of New Orleans South Africa Connection, inc. (NOSACONN); South African officials: Ms. DAISY MASHIANOKE MANGWATO; Mr. EZEKIEL MEGALANE; Mr. PHATSIRI MOSES MOGALE; Mr. PONELA JESSE MOGALE; Mr. THORISO PHATSIRI MOGALE; Ms. NTHABISENG ELIZABETH MOKOENA; Mr. TSHEPO HOPE MONARENG; and Mr. BUCCO BONGINKOSI XABA; SEBASTIAN WEST AND THE  LA WEST WIND BAND.

WHAT:          As NOSACONN Notes its 25th Anniversary The Cultural Exchange Presentation and Musical tributes begin with the tribute to Late Ambassador James Joseph’s Celebration of Life at Southern University’s Law Center- which will be held today, November 3 and Saturday, November 4th.   Additionally, as condolences continue from such entities as the Recording Academy for David Russell Batiste Jr. the group of South African Officials and artists will also honor the Batistes at Sweet Lorraine’s. Send Off Celebration of South Africans Jazz Tribute to New Orleans at Snug Harbor.  The group will also be visiting area schools.  For a complete itinerary contact Damon Batiste at 504 415-1702.

WHERE:          Ambassador James Joseph’s ceremonies in Baton Rouge: Southern University Law Center 2 Roosevelt Stephoe Drive, 70813 & Marriott Courtyard-Downtown 260 Third Street ,70801; Sweet Lorraine’s Jazz Club, 1931 St. Claude Avenue, New Orleans 70116.  Snug Harbor Jazz Club, 626 Frenchmen St., New Orleans 70116.

WHEN:          Friday, November 3, 2023,  6:30-8:30 p.m. -Southern University Law Center-Ambassador Joseph’s Memorial;  Saturday, November 4, 2023 11 a.m. -Ambassador Joseph’s Celebratory Reception at the Marriott Downtown Baton Rouge

Sunday, November 5th South African Tribute at Sweet Lorraine’s  for David Russell Batiste Jr. at Sweet Lorraine’s 6 p.m. & 8 p.m. along with Sebastian West’s  LA West Wind Band.

Monday, November 6th -The David Russell Batiste Tribute & Send Off Celebration for the South African cultural ambassadors continue at Snug Harbor, 7:30  p.m. & 9:30 p.m.

WHY:          Saluting NOSACONN’s 25th Anniversary, continuing the work of NOSACONN, Inc. while honoring late Ambassador James Joseph (advocate for and advisor to South Africa’s first Black President Nelson Mandela)  and that of the late humanitarian, educator and musician Batiste, the entourage of South African officials are strengthening cultural exchange between New Orleans and South.  The inclusion of Sebastian West’s LA West Wind Band affirms the cultural richness found in New Orleans. Visit www.nosaconn.com to find out more about NOLA’s Royal Family of Music, The Batistes and the power of cultural tourism and empowerment.

Florida and South Georgia Argus Broker Affiliates Announce Recent Self Storage Sales

 Weaver Realty Group is pleased to announce the following the recent sales:

Englewood, FL Self-Storage Development Site, located at 3904 N Access Rd. This sale included 1.7 acres of fully entitled land for 90,000 GRSF of self-storage.

Tampa, FL Self-Storage Development Site, located at 12640 Race Track Rd. This sale included 0.5 acres of fully entitled land for 63,525 GRSF of self-storage.

St. Johns Big Toy Lockers, located at 2771 FL-44 in DeLand, FL. The sale included 4 buildings totaling 38,330 GRSF, 91 units with a mix of uncovered, covered, and enclosed Boat and RV storage on 7.5 acres.

Kingsland Keeps Storage, located at 1301 Winding Oaks Rd in Kingsland, GA. This 6.39-acre Certificate of Occupancy sale included 40,150 GRSF, 333 units of climate-controlled storage as well as an expansion opportunity for an additional ~20,000 GRSF.

Weaver Realty has been the Argus Self Storage Advisor Affiliate since 1999 covering the state of Florida and now newly acquired South Georgia territory. During that time, we have specialized in the acquisition, disposition, and evaluation of self-storage properties of all types and sizes. For information, reach out to Josh Koerner at 904-591-0140.

Based in Denver, Colorado, Argus Self Storage Advisors (Argus) was formed in 1994 to assist owners and investors of self-storage with their real estate needs. Through the years, Argus has assembled a network of real estate brokers experienced in self-storage and income property investments. Now the largest self-storage brokerage network in the United States, the Argus network has 36 Broker Affiliates covering nearly 40 markets. These brokers are able to meet the needs of self-storage investors and owners whether it is acting as a buyer’s agent or listing and marketing a property. For more information, call 1-800-55-STORE or visit www.argus-selfstorage.com.

Argus Self Storage Advisors
Amy Hitchingham
800-557-8673
www.argus-selfstorage.com

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Genesis of South Bay Grand Opening

 Genesis of South Bay is set to introduce its modern dealership at 3215 Pacific Coast Highway in Torrance, CA on August 15, 2023, aiming to enhance the luxury car shopping experience through innovative design and technology.

The new Genesis of South Bay facility features contemporary architectural elements, including expansive glass facades. Inside, visitors will encounter a thoughtfully presented range of Genesis vehicles, showcasing their unique attributes.

Genesis of South Bay is designed with an emphasis on technology integration allowing guests to personalize their vehicle preferences using interactive displays, augmented reality, and virtual configurators.

The inaugural opening is on August 15, 2023, and will provide an opportunity for guests to explore the dealership and engage with the Genesis of South Bay team.

Genesis of South Bay’s new dealership seeks to set a benchmark for luxury automotive retail, offering an elevated customer engagement approach.

For additional information, please visit genesisofsouthbay.com or contact Cedric Butler.

About Genesis of South Bay:
Genesis of South Bay, located in Torrance, CA, is a new luxury car dealership, committed to delivering a refined automotive experience by offering a carefully curated range of Genesis vehicles and exceptional customer service.

Genesis of South Bay
Cedric Butler
(310) 968-0863
genesisofsouthbay.com

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