An exciting crowd funding cannabis cultivation project is scheduled to start this week for Grow Space Orange, the Massachusetts company that develops cannabis cultivation facilities that are leased to licensed growers. Grow Space Orange, Inc, is a wholly owned subsidiary of New England Agriculture Technologies, LLC (“NEAgTech”) in which investors are able to get in on the ground floor of an asset-based cannabis business with planned above-average returns plus the exciting possibility of being an owner of a prosperous cannabis cultivation operation. Full details of this and other NEAgTech projects including financial forecasts is on the investor section of the GrowSpaceNE.com website.
The NEAgTech 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 own something 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 the crowd fund program at Fundanna.”
The company has completed the site acquisition and local permitting along with initial site clearing and construction preparations. 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 Q2 2021. New investors from the crowd fund effort will receive a convertible note for shares sold by NEAgTech in Grow Space Orange, Inc. The full prospectus and details will also be on the Fundanna crowd fund platform at Fundanna.com.
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 submitted their formal applications to the Massachusetts Cannabis Commission. NEAgTech has received site approval and is going through the process of site reviews with town officials with an initial permit being completed for the exterior fencing and security systems. Bohler Engineering has completed the initial site engineering designs and construction is being planned to be completed starting this fall ready for next spring 2022.
One of the unique aspects of this project is the planned reliance on sustainable resources, including solar electricity to power interior and exterior 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. Grow Space Orange will be one of the first of many other cannabis operations that have been proposed for the town of Orange but have failed to materialize due to incomplete planning or funding. The team at NEAgTech have made a commitment toward the execution of this project and the crowd fund effort reflects the detailed planning and resources that have been targeted into this project.