This is a Test the Waters Campaign

Solveig is considering a crowdfunding campaign; this page is meant to gather feedback before we formally launch the program and no funds can be accepted at this point. Your input is helpful in crafting the formal investment program.

Click "Pledge Now" to Indicate Interest and be contacted when the opportunity to fund your Pledge to invest becomes available. 

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Sølveig 

Modern dwellings available for rent in popular getaway destinations.

THE CURRENT PROBLEM

Traditional resorts and cabins haven’t changed with the times as modern living or workspaces have. They may have updated facades and amenities that make them seem newer, but they are still relatively unchanged. While this style may be appealing to some people, we are seeing a shift toward the need for more modern spaces that embrace the natural landscape while providing an escape from busy city life.

In the past two years of living under pandemic conditions, we've seen a sharp rise in city dwellers fleeing the city to work remotely in a more relaxing environment. As more permanent work from home employment continues to rise, so will the need for this type of escape.

The closest thing we are seeing for competitors are clusters of tiny homes or one-off luxury experiences. We see a large gap in the marketplace for us between them.

The tiny homes are more modern than the traditional cabin, but lacking in space and often basic amenities like in-house toilets or air conditioning. The current luxury market is either condos, hotels or individual houses. What these rentals make up in square footage, they generally lack in seclusion and green initiatives.

OUR SOLUTION

The Sølveig brand exists to bring affordable luxury, eco-friendly, and technology-driven ideology to modern resort destinations. We are creating an escape that’s designed to live up to present day expectations. 

- Modern Luxury 

• Simple, clean lines with lots of windows to feel more connected to nature
• Higher-end finishes and furniture (Bokser Home, BluDot, Hennepin Made, etc.)                 
• Layout of dwellings provides for increased privacy
• Convenient chef crafted meal kits ordering option through Tovala

- Eco Friendly

•  Modular construction using mass timber
• Solar Panels
• Minimal site impact
• Propane gas and High efficiency water heater

- Digitally Forward 

• Keyless entry
• Digital control of dwelling efficiency
• Dense mesh network wifi
• All LED lighting

This project is planned for development on 100 acres of land on the North Shore near Grand Marais, MN. There is a public lake with access just 500 feet from the north edge of the property. The property will consist of 6 dwellings; (1) one bedroom dwelling, (3) two bedroom dwellings and (2) three bedroom dwellings. The dwellings will range in size of about 900sqft-1,400sqft, share septic and water resources, and utilize propane and solar power.

LOCATION

The North Shore is all about Lake Superior and the amazing north woods. This is where you can find ways to explore, discover and be outside. In the summer, you can backpack camp and hike the 256-mile Superior Hiking Trail, bike the Gitchi Gami paved trail, wet a line, paddle, golf, and spot wildlife. And then there are winter activities – snowshoe, fat bike, alpine ski, nordic ski, snowboard, snowmobile, ice fish, curl, skate and slide. There is no shortage of activities in the area!

OPPORTUNITY

Revenue Assumptions:                                                                               
Gross Retreat income for Year 1 was calculated as follows:  
$425(avg)/night X 6 units X 108 nights = $275,400 
(60% of peak season nights May thru Oct)  
PLUS
$357.5(avg)/night X 6 units X 31 nights = $66,495 
(60% Fri and Sat nights Nov through April)

for a total of $341,895  year 1

(a)  The return on investment and payback period has been calculated at about 20% return for the first 3 years and a balloon payment in the 4^th year. All Sølveig project cost and performance are assumptions based on previous projects.

(b)  We project a very conservative 5% year-over-year growth rate in sales and a 2-3% annual increase in most operating expenses. We have been intentionally conservative with rental counts as well.

A snapshot of summer rates in the area range from;

Studio (>500sqft) $293 -$452/night (Hotel style room)
Single Room (>600-900sqft) $438 -$534/night (Hotel room)
2 Room (1,000-1,500sqft) $548 -$634/night (Hotel room)
3 Room (2,500-3,000sqft) $750 -$820/night (Townhouse)

For more information, see the proforma

TEAM

Grant Fisk has been involved with building over 50 hotels, over 3,500 apartment units, and over 300 single-family homes over his 20 years as a developer. Grant will oversee the development of the project along with ensuring our green initiatives are met.

Dan West is an award-winning creative with a career of over 20 years that has seen 100's of clients through his mid-sized agency, including international hospitality brands, consumer products, software, and retail. As the visionary of the project, Dan will oversee the design, customer experience, and marketing aspects.

 

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Disclosure: this page represents Testing The Waters materials.

1. No funds or other consideration is being solicited, and if money is sent, it will not be accepted by the company; 
2. No sales will be performed or commitments to purchase accepted until the offering statement is qualified; and
3. A proposed purchaser’s indication of interest is non-binding.

Click "Pledge Now" to Indicate Interest and be contacted when the opportunity to fund your Pledge to invest becomes available.