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Funding an important part of commercial real estate development

When most people start a new commercial business, they try to get it up and running a quickly as possible.  Unfortunately, this is often easier said than done. The owners of a coffee shop slated to open in Worcester, Massachusetts, know this all too well. Though under the right circumstances one of the co-owners believes that the work necessary  to get the business opened could have been done in three weeks, in reality, it has taken a year and a half to get to the point they are now--still unfinished.

The project has been under way since 2013. At that time the coffee shop secured its initial license. The opening, which was planned for in April of that year, was delayed due to issues with funding. That matter has been addressed and though the previously abandoned building needed a lot of work, restoration of the building has occurred. In addition, city inspectors have given the stamp of approval at many stages of the process. Though final health and safety inspections still must take place, the business is expected to have a soft opening soon.

The development of commercial real estate plays a vital role in the life of most communities. The new coffee shop is part of the effort being made to revitalize the Canal District of Worcester, Massachusetts. This means that the success of this business could positively impact the development of other commercial real estate in the area.

A business that is not actually in business is not making money. If matters preventing a business from running--such as financing issues--are not addressed in a timely manner, it is possible that it might never get off the ground. Working with a lawyer throughout the process is a good way to keep delays due to issues that arise, to a minimum.

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Worcester, MA 01608

Phone: 508-709-0024
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