Hanover Trust, LLC develops communities of tomorrow.

Hanover Trust, LLC: Development, Construction Management, Property Management, Funding, and Bonded Projects Completed

Hampton Ridge Apartments

This is a 252-unit multifamily property built from the ground up. This project was overseen, developed, owned, and managed by the Slack family. It has always maintained more than 95% occupancy. Out of 500 Midwestern properties, this property was also rated as the number 1 property for management, grounds, record keeping, occupancy, and overall appearance.

Hampton Meadows Apartments

This is a 152-unit multifamily property built from the ground up. This project was overseen, developed, owned, and managed by the Slack family. It has always maintained more than 95% occupancy. Out of 500 Midwestern properties, this property was also rated as the number 1 property for management, grounds, record keeping, occupancy, and overall appearance.

Hampton Courtyard Apartments

This is a 44-unit multifamily property built from the ground up. This project was overseen, developed, owned, and managed by the Slack family. It has always maintained more than 95% occupancy. This property is located across from the Hampton Ridge Apartments.

Hampton Woods Apartments

This is a 70-unit multifamily property built from the ground up. This project was overseen, developed, owned, and managed by the Slack family. This property always maintained better than 95% occupancy. This property is to the west of and abuts the Hampton Ridge Apartment Community

Woodland Acres Subdivision

This is a 198-unit subdivision that was completely built out in three (3) years. On opening weekend Phase I consisting of 57 homes sold out. Total value approximately $37,830,000. The $3,600,000 listed on the tombstone is for the cost to purchase the land and infrastructure which included all the sanitary, water, drainage, and road for the subdivision.

Bell Atlantic Building

This was a two (2) year project that included some of the most sophisticated financial engineering imaginable. We took a building tenant occupied by Bell Atlantic from $50,000,000 in debt through heavy negotiations and refinancing with Merrill Lynch down to a total debt of $23,400,000, with over $26,600,000 in debt forgiven. Decreased the existing interest rate of 12.2% to 6.5%, saving the building and the tenant. The net operating income of this property was $7,200,000.

Eagle Landing Development

This multifaceted 355 Acre PUD included the planned development of over 239 single family homes, 235 townhouse units, 16 office/commercial lots, and ten (10) acres consisting of an 18-hole championship golf course, club house, tennis club and parking areas. Total aggregate value of $8,050,000 before to the vertical buildout.

Ravenna School District & The City of Chicago

These are just a few of many Surety Bond Guaranty projects that Hanover Trust participated in out of an aggregate of substantially over $100,000,000 in total bond guarantees for both completion and payment bonds (AIA 311 & AIA 312 Surety Bonds) now known as AIA 312 Bonds.

Other Participating Developments

Boulder Creek -40-acre PUD - $50,000,000.
Eagle Bay - 453.9-acre development and golf course community - $25,000,000.
Pine Island Golf Resort: 167.85-acre development. Stabilized valuation $28,700,000.
Harbour Village: 20-acre oceanfront resort. Completed Value $125,000,000.

Projects Currently Under Contract
Owned or in the developmental/design stage

125-acre, 148-unit Net Zero Housing Resort - New Hampshire. Estimated build out $56,000,000.

The land is owned free and clear.

US Solar Farms - 5 MW solar array - New Hampshire. Estimated completion value of 7,500,000.
48-unit Housing Facility -New Hampshire. Estimated Value $9,600,000. The land for this development

is owned with very little debt.

356-unit PUD to be developed on 100 acres – New Hampshire. Estimated Value when completed is

approximately $115,700,000. This land is currently under contract.

Nextgen Housing

Communities of Tomorrow

The Build to Lease (BTL) with a purchase option is a new program that concentrates on housing for those who want the benefits of a new home. It is built from a selection of options that include all homes under 1,000 square feet with an average size of 760 square feet, without the upfront commitment commensurate with home ownership.

These homes are totally energy-efficient, have no basement, are totally net zero, and powered by all solar radiant and photovoltaic energy generated on site, keeping utility costs to as low as 20% of what they would normally be.

Our requirement covers a minimum of a five-year lease with two options for renewal. All leases are NNN and include all taxes, insurance, and if applicable, HOA fees. After the completion of the 24th rental month, an option to purchase is automatically triggered and may be consummated at the end of the 36th rental month, and no later than the 60th rental month.

The price is based on a price driven by the initial cost with 5% increases in annual valuation. At any triggered lease option point, the price is weighted accordingly, and the set purchase price is established.

If the term we lease for a period of 5 years expires without notice to confirm exercising of either the lease extension or purchase option, then the leasee must leave the premises within 10 days, which is coterminous with the lease expiration and under the terms of the underlying lease.

For more information about this exciting program, feel free to contact us in Bellow Falls, Vermont.

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