An exciting crowd fund cannabis cultivation project is on display this week at Boston's NECANN convention for Grow Space Orange, the wholly owned subsidiary of New England Agriculture Technologies. Grow Space develops cannabis cultivation facilities in Massachusetts that are leased to licensed growers. The Grow Space Orange project is designed to allow both large and small investors to get in on the ground floor with the exciting possibility of being an owner of a cannabis cultivation operation. Full details are now available through a special crowd fund platform at www.investingrowspaceorange.com.
The Grow Space team is headed by Rob Wolf along with brothers Alan, Paul and Tony Alves of Lighthouse Masonry in New Bedford, MA with construction managed by Tim Vautour of TriCon Builders. According to Wolf, "This is perhaps the first opportunity in Massachusetts for the average person to be a part of a business in the cannabis industry. Massachusetts has become one of the hottest cannabis markets in the world with annual sales expected to top $2 billion by the end of this year. Most people don't have the knowledge or resources to get in on the ground floor, but we are making that possibility a reality with this crowd fund program."
The company has completed the local permitting and has started construction. The result of extensive property searches along the Route 2 corridor, this 4.55-acre cleared industrial land was the last parcel available from the Orange Industrial Economic Commission and purchased by NEAgTech in 2019 on very favorable terms. Approximately 3-acres is dedicated for this "outdoor grow" beginning Q3 2022.
Two separate cultivation companies have each entered into lease agreements with the company for the space and agricultural assets, allowing the growers to concentrate on growing without the additional development burdens. Antonio "Tony" Alves is the managing member or CanGrow, LLC and will be leasing 56,000 square feet of secured cultivation area in which 40,000 square feet has been designed as the functional canopy. Tony is a native of Portugal with a family history in traditional agriculture. Kaily Hepburn is a Springfield, MA real estate attorney whose specialty is cannabis licensing and cultivation activities and is the managing member of Sun Flower Meadows, LLC. Like CanGrow, Sun Flower is leasing another 56,000 square foot section on which another 40,000 square feet of cannabis is planned.
Both CanGrow and Sun Flower Meadows have completed their community hearings and executed their host community agreements (HCAs) with the town of Orange and received their provisional licenses from the Massachusetts Cannabis Control Commission. Grow Space Orange is going through the final process of site reviews and building permits, and construction should be finished by this summer 2022.
One of the unique aspects of this project is the planned reliance on sustainable resources, including solar electricity to power lighting and security systems. With a combination of greenhouses and specially outfitted container buildings, Grow Space Orange is equipping the site to have as little impact on the environment as possible. To mitigate odors, the exterior perimeter is being planted with lavender and peppermint, and drying buildings for post-harvest preparation are sealed with specially designed dehumidification systems.
While the terms of the HCA agreements with the town of Orange are proprietary, the company has made a commitment to provide valuable resources of both time and money to the town of Orange and provided assurances that this operation will not only be fully compliant with all applicable laws and regulations, but it will also be a good neighbor in industrial park community.
The team at Grow Space has made a commitment toward the execution of this project and the crowd fund effort reflects the detailed planning and resources that have been devoted to make this happen.
Grow Space will be showcasing this crowd fund opportunity as well as its other greenhouse projects available for accredited investors at Boston's NECANN conference. The first greenhouse project is the company's 33,000 square-foot greenhouse facility in Westfield, MA being built for Sun Grown alternatives, a Springfield, MA cultivator. Both the Orange and Westfield projects are "shovel-ready" and considered by the Company to be excellent investment opportunities. Other projects being showcased at NECANN Include the company's 30,000 square foot indoor facility building in Templeton, MA that has been permitted for cannabis cultivation and processing.
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