Business Plan · Confidential · Flagship Project
Notre Dame
Centenarian Village

Execution plan for the flagship 10-phase adaptive-reuse redevelopment of a 50-acre former college campus in Greater Cleveland, Ohio. A $212M capital raise funds acquisition plus Phases 1–9 of a $412M total-development program, underpinned by a 15-year academic anchor lease and $100M+ in available HTC / TIF / grant incentives.

Project: Notre Dame Centenarian Village
Location: Greater Cleveland, OH
Capital Raise: $212M · $412M Total Dev
Project Targets
Phases10
Campus Size50 acres · 300,000 SF
Housing Units887 residential
Hospitality120 suites + theater
Retail41 shops
Clean Energy15 MW H₂ plant
AI Data Center200 racks (Phase 10)
Academic Lease15 yrs · extendable 30
Incentive Stack$100M+ HTC + TIF
Exit Value Target$1B+
01
Investment Thesis
The Centenarian Village Playbook Applied at Notre Dame

Notre Dame Centenarian Village is the flagship execution of K7's repeatable four-stage institutional-redevelopment model. The project transforms a shuttered 50-acre college campus in Greater Cleveland into the region's first 5-minute walkable Smart Urban Village — intergenerational, mixed-use, and anchored by a long-duration academic tenancy.

  • Stage 1 — Deep-discount acquisition. The 50-acre site and its 300,000 SF of institutional buildings are acquired at a significant discount to replacement cost. Closed-campus real estate of this type typically trades in the 30–50 cent range on the prior institutional dollar.
  • Stage 2 — Incentive stacking. Over $100M in Historic Tax Credits, Tax Increment Financing, Opportunity Zone benefits, and Low-Carbon Incentive Programs is available over the next 24 months — representing 20–25% of total project capital. The base-case pro-forma only absorbs $25.5M of that stack, leaving material upside unmodeled.
  • Stage 3 — Anchor tenant reactivation. A 165-year-old partnering college has committed a 15-year lease (extendable to 30 years) to establish its Satellite Health Sciences Campus on site, launching Physician Assistant and Nursing programs.
  • Stage 4 — Mixed-use intergenerational build-out. Housing (workforce, senior, student, BTR, multifamily), a historic hotel, retail, a health center, sports/aquatics facilities, a 15 MW hydrogen plant, and a 200-rack AI cloud data center are layered around the academic anchor.

The model's strength is sequencing. Phase 1 (lowest-cost dorm-to-workforce housing conversion) generates bridge cash-flow while the heavier adaptive-reuse phases (2–4) are under construction. Phase 8 (an existing sports complex) is leased on Day 1. Phases 9 and 10 — the hydrogen plant and data center — sit later in the schedule and, in Phase 10's case, are capitalised in a separate tranche, further de-risking the core redevelopment portfolio.

Regional Impact
The project is projected to generate $5.4B of 10-year regional economic impact through construction spend, permanent job creation, student and faculty throughput, clinical training volume, hospitality visitation, and retail activation — positioning the sponsor as a material civic partner in Greater Cleveland's institutional-asset recovery.
02
Execution
10-Phase Redevelopment Sequence
PhaseComponentScaleApproach
1Workforce Housing327 unitsConversion of 5 student dormitories
2Historic Hotel120 suites · 120,000 SFAdaptive reuse of administration building
3Health Center25,900 SFConversion of the former library
4Mixed-Use Apts + Retail120 apts · 41 shopsGround-up mixed-use construction
5Senior Independent Living200 unitsNew construction
6Duplex BTR120 unitsBuild-to-Rent residential cluster
7Multifamily Apartments240 unitsNew multifamily housing
8Sports + Aquatic ComplexExistingDay-1 lease to elite academy
9Hydrogen Energy Hub15 MWTurquoise H₂ power plant
10AI Cloud Computing200 racksData center · separate tranche
03
Academic Anchor
15-Year Health Sciences Lease

The cornerstone of the Notre Dame thesis is the reactivation of the academic mission. A 165-year-old partnering institution has committed to establish its Satellite Health Sciences Campus at the redeveloped site, launching Physician Assistant and Nursing programs.

  • Lease term: 15 years, with options to extend to 30 years.
  • Capital allocation: $2.5M (approximately 5% of the $50M Cleveland regional raise line) — covering facility renovation, simulation labs, faculty onboarding, and accreditation milestones.
  • Medical / nursing school lease LOI: an additional $1M/year lease commitment is in place.
  • De-risking effect: institutional credit tenancy, long-duration income stream, and a continuous population flow of students, faculty, and clinical trainees — which in turn anchors housing, hospitality, retail, and health-center demand across the project.
04
Demand Validation
Tenant Demand Across All Phases
Student Housing
650 cap · 250 ready
Near-term enrolment pipeline
Medical / Nursing School
$1M/yr lease
Long-term LOI in place
Senior Housing Catchment
90,000 seniors
Within 10-mile radius
Workforce Housing Deficit
133,126 units
Cleveland metro shortage
Hospitality Occupancy
80%+ stabilised
Projected base case
Residential Wait List
18 months
Modern duplex / 1-BR
Theater Venue
900 seats
Top-tier regional arts hub
Employer Demand
23 Fortune 500
Cleveland metro region
Phase-Level Demand is Measurable
Each of the 10 phases has quantified underlying demand — not forward projections dependent on speculative absorption. Near-term student enrolment pipeline, committed medical-school LOI, catchment-proven senior population, documented workforce deficit, and waitlisted residential configurations together de-risk absorption across the build sequence.
05
Use of Proceeds
Where the $212M Goes
AllocationEstimatedPurpose
Campus Acquisition$60M50-acre site + 300,000 SF institutional buildings
Phase 1 — Workforce Housing Conversion$35M327 units · 5 dorm conversions
Phase 2 — Historic Hotel Reuse$40M120 suites · convention venue
Phase 3 — Health Center$12M25,900 SF · library conversion
Phase 4 — Mixed-Use Apts + Retail$28M120 apts · 41 shops · ground-up
Phase 5 — Senior Independent Living$25M200 units · new construction
Phase 9 — Hydrogen Power Plant$10M15 MW · clean energy infrastructure
Academic Activation$2.5MPA + Nursing labs, faculty, accreditation
Soft Costs / Permitting / Legal$15MCross-phase
Working Capital + Lease-Up Reserve$10MPhase 1–3 ramp carry
Sub-Total Redevelopment$237.5MOf $412M total; balance via HTC / TIF + later tranches
Less: HTC + TIF + Grants Absorbed($25.5M)First tranche of $100M+ available
Total Capital Requested$212MAcquisition + Phases 1–9 redevelopment
Phase 10 — AI Cloud Computing (Separate Tranche)
The 200-rack AI cloud computing centre is structured as a separate $200M capital tranche raised independently of this $212M redevelopment raise. Phase 10 is positioned as a self-sustained revenue engine powered directly by Phase 9's 15 MW hydrogen plant, generating contracted compute revenue from enterprise customers. Capital structure for Phase 10 will be finalised in its own term sheet and does not affect the core Notre Dame investor waterfall.
06
Risk Framework
Identified Risks & Mitigants
MEDIUM
Phase sequencing and capital timing across 10 phases
Mitigant: Phase 1 (workforce housing dorm conversion) is lowest-cost / fastest-ramp and serves as bridge cash-flow during heavier Phases 2–4 construction. Phases 5–7 (housing) are commenced only after Phase 1 stabilises. Phase 8 (sports complex lease) generates revenue from Day 1 via existing facilities.
MEDIUM
Incentive timing — HTC / TIF / grant dependency
Mitigant: $100M+ in incentives is available over the next two years and is available, not speculative. Base-case pro-forma assumes only $25.5M of the $100M+ is absorbed into the capital stack, leaving significant incentive upside unmodeled.
LOWER
Academic anchor commitment
Mitigant: 15-year lease already committed by a 165-year-old institution. Long-standing credit. Extension options to 30 years. $1M/year lease from medical/nursing school LOI is in place.
MEDIUM
Construction cost inflation across a 10-phase build
Mitigant: Phased construction de-risks upfront cost exposure. Adaptive reuse phases (1–3) use existing structures, significantly reducing hard cost. Contingency reserves sized at 5–8% of each phase budget.
LOWER
Tenant / absorption risk
Mitigant: Each phase has validated underlying demand: 90,000 seniors within 10 miles, 133,126-unit workforce housing deficit, 80%+ hospitality occupancy expectation, 18-month residential wait lists. 23 Fortune 500 companies in the Cleveland region support workforce housing demand.
MEDIUM
Hydrogen plant / data center technology risk (Phases 9–10)
Mitigant: Phases 9 & 10 are sequenced later in the build. Phase 10 is structured as a separate $200M raise independent of Notre Dame redevelopment capital, de-risking the core portfolio from data-center-specific execution risk.

Financial model & pro-forma detail

10-year proforma, phase-by-phase capital deployment, stabilised NOI, and exit-value scenarios are available on the Financials page.

Disclaimer · Confidential Business Plan
Strictly Confidential
This Business Plan for Notre Dame Centenarian Village is confidential and for the exclusive use of the authorised recipient. This is a 506(c) Reg D offering limited to accredited investors under U.S. securities laws. Forward-looking statements involve risks and uncertainties; actual results may differ materially.