Thursday, March 21, 2024 10:27:59 AM
Dallas, TX -- March 21, 2024 -- InvestorsHub NewsWire -- Vaycaychella, Inc. (OTC Pink: VAYK) ("VAYK") today issues a public statement, hailing the grant of $157 million dollar of federal funds, to a downtown Atlanta project called "the Stitch" ( https://www.wabe.org/feds-award-157m-grant-to-reconnect-atlanta-neighborhoods-with-the-stitch/) . The project is only two blocks from VAYK's newly acquired $5 Million short-term rental property.
The Stitch (https://thestitchatl.com/) is a transformational civic infrastructure investment to reconnect Downtown and Midtown Atlanta.According to its official website, the Stitch, once implemented, would bring new residents, jobs, and visitors downtown and include an estimated 3000+ units of nearby affordable housing. This could result in $2-3 billion in private investment that would generate $21 to $58 million in new annual tax revenue.
The company's statement read as follows:
"We, the management of Vaycaychella Inc, are excited about the economic benefits and opportunites the Stitch will bring to downtown Atlanta. The Stitch is a huge development project almost 'next door' to our $5 million property, which we had acquired less than one month before the $157 million federal grant was approved for the Stitch. We believe that the projected developments of nearby neighborhoods, driven by the Stitch, will dramatically increase the prospect of revenue to be generated from our short-term rental operation on the said property, and may boost the value of the property immediately."
Last month, Vaycaychella acquired exclusive rights to renovate a historic landmark property, located at downtown Atlanta, into a boutique, multi-unit short-term rental (Airbnb) property. At the time of acquisition, the property was estimated to reach at least $5 million of market value upon completion of renovation, and Vaycaychella management projected that the short-term rental (Airbnb) operation may generate revenue of $500,000 to $700,000 annually. Now, the management believes that those estimates should become considerably higher, although it is still too early to determine exactly how much the Stitch will benefit Vaycaychella's business and increase its asset value.
Recent VAYK News
- VAYK Added New Manager for Expansion into $64 Billion Domestic Short-term Rental Market • InvestorsHub NewsWire • 05/14/2024 01:00:00 PM
- Firm Holds Strategic Conversation on Possible Acquisition in Short-Term Rental Market • AllPennyStocks.com • 05/09/2024 05:50:00 PM
- VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • InvestorsHub NewsWire • 05/09/2024 01:00:00 PM
- VAYK Confirmed Its Eligibility for $1.8 Million Investment through Federal EB5 Program • InvestorsHub NewsWire • 04/11/2024 01:00:00 PM
- VAYK Reported Over $2 Million Net Income for Fiscal Year 2023 • InvestorsHub NewsWire • 04/02/2024 01:00:00 PM
- VAYK Hails $157 Million Federal Grant to Project Almost "Next Door" • InvestorsHub NewsWire • 03/21/2024 01:00:00 PM
- VAYK Reaffirm Cryptocurrency Strategy to Disrupt $64 Billion Short-Term Rental Market • InvestorsHub NewsWire • 02/29/2024 02:00:00 PM
- VAYK Announces Structured Acquisition of $5 Million Registered Landmark Property with 24 Month Plan to Acquire $20 Million in Short-Term Rental Properties • InvestorsHub NewsWire • 02/15/2024 02:00:00 PM
- VAYK Announces Net Equity Increase Over $2.5 Million • InvestorsHub NewsWire • 02/06/2024 02:00:00 PM
- Shift to Short-Term Rental Market Sends Shares of this Firm Soaring • AllPennyStocks.com • 02/01/2024 03:50:00 PM
- VAYK Updates Business Strategy to Concentrate On $64 Billion Domestic Short-Term Rental Market • InvestorsHub NewsWire • 02/01/2024 02:00:00 PM
"Defo's Morning Briefing" Set to Debut for "GreenliteTV" • GRNL • May 21, 2024 2:28 PM
North Bay Resources Announces 50/50 JV at Fran Gold Project, British Columbia; Initiates NI 43-101 Resources Estimate and Bulk Sample • NBRI • May 21, 2024 9:07 AM
Greenlite Ventures Inks Deal to Acquire No Limit Technology • GRNL • May 17, 2024 3:00 PM
Music Licensing, Inc. (OTC: SONG) Subsidiary Pro Music Rights Secures Final Judgment of $114,081.30 USD, Demonstrating Strength of Licensing Agreements • SONGD • May 17, 2024 11:00 AM
VPR Brands (VPRB) Reports First Quarter 2024 Financial Results • VPRB • May 17, 2024 8:04 AM
ILUS Provides a First Quarter Filing Update • ILUS • May 16, 2024 11:26 AM