Repvlik focuses on purchasing
disused real estate assets and repurposing
those assets into affordable housing.
So of our politicians say, "the forgotten middle'.
A lot of the high-end, class-A, luxury apartments
have been built in most locations, but this middle,
is something that nobody has addressed.
We have availed ourselves to
a very  large shortfall in workforce housing that exists.
Our focal point is on employees
that fall within a certain baseline median income.
What we elected to do was
to create a safe and secure lifestyle
for migrant workers that are coming into Branson,
that would require facilities, amenities
and accommodation that is well above and beyond
what they have experienced previously.
Through Repvblik - Branson, PK Housing
and our partners created Plato's Cave.
We took a 423-room hotel
sitting on 16 acres in Branson, Missouri,
which had been vacant for almost a decade,
and created the workforce housing project
that we have today.
The main part of PK Housing's mission
and Repvblik's mission is to provide,
not just quality and safe units,
but also units that compare with full market rate units.
We've upgraded all of the rooms,
all of the infrastructure within the property,
and we've created recreational spaces,
a gym, meeting rooms, upgraded pool facilities.
We're currently building a beach volleyball court.
Branson has around eight to nine million visitors a year,
and for a town with a population
of ten thousand, five hundred and twenty,
that presents a challenge finding a workforce
to take care of all of the folks who come here.
A large part of why we were able to
underwrite this deal with our investors
and with our lenders,
and why this deal worked, is because
we have corporate partners, because we have folks
that have committed to leasing large chunks of units.
We're thinking a little bit outside of the box here.
There's not a script that we're underwriting from.
There's not something that
when you go ask for a large loan from the bank
they can look at it comparable and say,
"This is how that's worked in the past,
so yes they're creditworthy.".
But because we have these large corporate sponsors
they lend us some of their credit,
some of their tenants, to prove that the market is here.
To prove that the idea is viable.
We are so excited to welcome Plato's Cave to the area.
When someone can come in and take a building
and use it for something that fills a need
in our community, it is such a great relief for us.
Any building that you purchase and repurpose,
you should be happy to live
in any one of those units.
I'm proud to say that
any of the work that we've done here,
I'd be very happy to stay in for any length of time.
