Kohr Capital hopes to move on to next phase with Cobblestone House
October 13, 2021, 2:06 pm
Larry Scammell of Kohr Capital says he hopes the investment gathering phase of Cobblestone House will be completed soon and it will be on to the next phase.
“We’ve made steady progress and the finish line is in sight,” he said. “There was never a script, there was always a ‘this will happen’ attitude. So step by step, we have moved forward. Do I think we’re where I thought we would be? Yes. I would like to think we can get it to the proverbial finish line in the month of October. And I believe that’s possible.”
He said there has been strong support from local investors.
“I’m happy to report that it will be 100 per cent locally funded and invested in. And that has been the plan all along, since day one. So from my perspective, I couldn’t be happier. And the next steps would be get it built, get it full, and get it operating.
“We’ve also maintained that we’re invested in the project as well. So this isn’t a case of ‘sure we’re here today, but gone tomorrow.’ Absolutely not. What we’ve also done is created an advisory committee for the project and the business, which will include at least three or four investors. It’ll have three seats, one each for Bridge Road, Kohr Capital, and Care By Design.
“We also have commitment and support from Dr. Van Der Merwe that the doctors, support the project, and also would occupy a seat on that advisory committee.
“In the conversation with a group of potential investors this week, I said ‘this here is the management team.’ And I’m going to have a seat on that because I want to have input and influence over the outcome of my investment. That’s how I see it.
“I have said to a number of people I’ve been chatting with is ‘don’t be surprised in 10 years to see my daughter take my place on that investment committee, because this isn’t for me that I’m doing this, this is for my generational wealth transfer down the road.’ Time and time again, obviously this is an agricultural community, among other things, but what you see is transitioning the farm to the kids. I don’t have a farm. I’m not a farmer. So this is my version of that. So to be selfish, that’s where I come from. And I think I got the point across that we’re in this for long haul.”
Ready for permitting
Scammell said permitting will begin soon.
“I think as early as this Friday we are going to be submitting permits The 99 per cent complete drawings I think are scheduled back this week, which means go time.
“You’d see some activity on the site within a couple of weeks. One of the things that will need to happen, and this will probably draw criticism, but some of the trees are going to have to be removed unfortunately. So you will probably see that. On the north side of the property, there’s a power pole that’s going to have to be moved. So that’s probably one of the first things you’d see. The site trailer, which is currently sitting in the parking lot, isn’t going to stay there forever. I believe that Mike, the site supervisor, is waiting for the town to approve it to be parked in the parking lot across the street. So that’s the construction plans. And let’s go.
What does Scammell believe the hardest part of the whole process has been?
“From my perspective, I would say building the relationship with the community,” he says. “Showing up and just being persistent and being patient. Because we are from Saskatchewan, and Kohr Capital too. Not me, I’m from Winnipeg originally, but Shayne and Conal are both from small communities. Shayne is from Battleford and Conal is from Melfort/Tisdale area. So we understand that we can’t just walk in or parachute into a community like this and just expect to be a door wide open.
“It’s just taking that amount of time to really build that trust and get that sense of who we’re going to be, and whether you like it or not, we’re going to be here for a long time. And we hope you like it because we need to work together. This kind of thing takes forever, it takes time.”
Scammell says there is room for additional potential investors in the project.
“I would say to you, if you’re considering involvement, we’ll find a place for you. There’s going to be a few people that are sort of outside of this sort of core group. And if they can get in in time or just put up their hand to get information, we will not say no to anybody until we’re done.”