Habitat for Humanity of St. Joseph County Broke Ground on New Homeownership Training Center and Main Office

Habitat for Humanity of St. Joseph County Broke Ground on New Homeownership Training Center and Main Office

by | Oct 18, 2024 | ANCON News

Pictured left to right: Andy Place Sr., Place Builders President; Matt Krause, Ancon Construction Superintendent; Matthew VanSoest, Ancon Construction Lead Project Designer; Jim Williams, President and CEO of Habitat for Humanity; Doug VonGunten, Ancon Construction President; Mayor Dave Wood, City of Mishawaka; Jeff Rea, South Bend Area Chamber of Commerce President; Tim Schrock, Ancon Construction Project Manager.

 

Habitat for Humanity of St. Joseph County Broke Ground on New Homeownership Training Center and Main Office

Ancon Construction is proud to partner with Habitat for Humanity of St. Joseph County on its new Homeownership Training Center and Main Office, located at 524 E. McKinley Ave, Mishawaka. The groundbreaking ceremony took place on Thursday, October 17.

The project involves an 11,500-square-foot adaptive reuse of a former medical office building, featuring a complete interior overhaul and a transformative exterior renovation. The redesign aims to restore the building’s original 1961 architectural features while modernizing its exterior with new entrance canopies. Inside, the two-story facility will include offices, open workspaces, conference rooms, lounge areas, a board room, an outdoor patio space, and a 60-person training room.

“Ensuring all interior work and communal spaces have access to natural daylight is achieved through the building’s ribbon window features on both the north and south facades,” explained lead project designer Matthew VanSoest. Habitat for Humanity’s national branding and color palette will be incorporated into the interior, alongside unique wood screen walls and feature walls that symbolize the non-profit’s work in building homes.

Doug VonGunten, President of Ancon Construction, which is leading the renovation, expressed the company’s appreciation for the opportunity to partner with Habitat for Humanity: “On behalf of all the Employee Owners at Ancon Construction, we are deeply grateful for the opportunity to partner with Habitat of Humanity of St. Joseph County to design and renovate their new corporate office. Habitat’s mission closely aligns with our core values here at Ancon, and it has been a true privilege to be entrusted with this project. We look forward to transforming this building so that Habitat can continue to transform St. Joseph County.”

The new Training Center is expected to serve 750 to 1,000 community members annually, offering educational programs on budgeting, credit improvement, fire and home safety, estate planning, and home maintenance. “This 75-person Training Center reflects our commitment to empowering individuals with the knowledge and skills needed for successful homeownership,” said Jim Williams, President & CEO of Habitat for Humanity of St. Joseph County. “With the generous support of donors like Key Bank and the Judd Leighton Foundation, this debt-free facility will allow us to focus on building more attainable workforce housing.”

The building is expected to be completed in the Spring of 2025 and is strategically located adjacent to the new fire station, making it a prominent addition to the ongoing improvements along the McKinley Corridor, which will include the widening of McKinley Avenue.

For more information, please contact Amy Self, Ancon Construction’s Marketing Manager, at 574.533.9561, aself@anconconstruction.com, or visit anconconstruction.com.

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About Ancon Construction: 
Ancon Construction is a leading commercial design-build contractor offering services such as planning, architectural design, construction, remodeling, and maintenance. Headquartered in Goshen, Indiana, the company is 100% employee-owned and has been a cornerstone of the Michiana community’s construction and architectural landscape since 1975.

For media inquiries or further information, please contact Amy Self, Ancon Construction’s Marketing Manager, at 574.533.9561, aself@anconconstruction.com, or visit anconconstruction.com.

The Ground Has Been Broken on Ryan’s Place “Home for Healing Hearts” Project.

The Ground Has Been Broken on Ryan’s Place “Home for Healing Hearts” Project.

by | Oct 16, 2024 | ANCON News

Pictured Left to Right: Lindsey Diener-Locke, Ryan’s Place Program Director; Mathew VanSoest, Ancon Construction Lead Project Designer; Doug VonGunten, Ancon Construction President; Eunice Munn; Rex and Nancy Gleim; Aileac Deegan, Ryan’s Place President and CEO; Bill Purcell, President of Crossroads United Way; State Rep. Joanna King, Glen Kauffmann, Ancon Construction Project Manager.

The Ground Has Been Broken on Ryan’s Place “Home for Healing Hearts” Project.

Ancon Construction is proud to announce the groundbreaking of Ryan’s Place “Home for Healing Hearts” project. This 18,000-square-foot facility on Regent Street in Goshen will serve as the new home for Ryan’s Place, a vital organization dedicated to supporting grieving families. The building will provide a safe, nurturing space for children, teens, and families, offering grief support programs in a purpose-built environment.

“On behalf of the Ancon Employee-owners, I am both proud and grateful to partner with Ryan’s Place in designing and constructing their new building, “Home for Healing Hearts,” shares the President of Ancon Construction, Doug VonGunten. Breaking ground on this project marks a significant milestone for Ryan’s Place to have their own building to continue their mission of supporting grieving children and their families.”

Aileać Deegan, President and CEO of Ryan’s Place, expressed her excitement about the project: “This is a promise to the community—a dedicated space for grieving families to heal and ensure we can continue offering our vital services for years to come. Every child, teen, and family who walks through our doors feels seen, supported, and empowered in their grief journey.”

Key features of the “Home for Healing Hearts” include specialized rooms for art, high-energy activities, music therapy, and theater, all designed to meet the diverse needs of grieving families. The building will maximize natural light and create a warm, welcoming atmosphere that feels more like a home than an office, fostering a sense of community and connection.

“Throughout the design process and through case study research of other successful centers around the country, we acknowledged that the built environment has a direct relationship to the variety of ways people grieve. Sensory design, lighting, material use, and color are all direct variables we had to consider,” stated Ancon Construction’s lead project designer Matthew VanSoest.

“The ‘Home for Healing Hearts’ will be a lasting symbol of our commitment to the community,” said Deegan. “It allows us to reach even more grieving children and families, ensuring no one has to navigate their grief journey alone.”

For more information, please contact Amy Self, Ancon Construction’s Marketing Manager, at 574.533.9561, aself@anconconstruction.com, or visit anconconstruction.com.

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About Ryan’s Place: Ryan’s Place was founded in 2002 to fill the gap in grief support for children, teens, and families after the loss of a loved one. Named in honor of Ryan Gleim, who died in 1992, the center was inspired by the need identified by Ryan’s family and local therapists. Today, Ryan’s Place offers a safe and supportive environment for over 1,000 individuals each year through various grief support programs.

About Ancon Construction: 
Ancon Construction is a leading commercial design-build contractor offering services such as planning, architectural design, construction, remodeling, and maintenance. Headquartered in Goshen, Indiana, the company is 100% employee-owned and has been a cornerstone of the Michiana community’s construction and architectural landscape since 1975.

For media inquiries or further information, please contact Amy Self, Ancon Construction’s Marketing Manager, at 574.533.9561, aself@anconconstruction.com, or visit anconconstruction.com.

What Do Banks Like To See When Asking For A Commercial Construction Loan?

What Do Banks Like To See When Asking For A Commercial Construction Loan?

by | Feb 22, 2024 | Ancon News

 

What do banks like to see when asking for a commercial construction loan?

 

If you’re planning to build a commercial property or undertake a major renovation project, you’ll likely need to secure financing through a commercial construction loan. These loans are specifically designed to cover the costs associated with commercial building projects and require a different set of documentation and requirements than a traditional business loan.

Here are some of the key factors that banks typically look for when considering a commercial construction loan application:

  1. A strong business plan: Banks will want to see a detailed business plan that outlines your project’s scope, including blueprints, architectural drawings, permits, contractor bids, and timelines. This plan should also include a detailed breakdown of the costs involved in the project, as well as an estimate of the property’s value upon completion.
  2. Strong credit history: As with any loan application, banks will want to see a solid credit history demonstrating your ability to make timely payments and manage debt responsibly. A high credit score and a low debt-to-income ratio can help increase your chances of being approved for a commercial construction loan.
  3. Adequate collateral: Commercial construction loans are typically considered riskier than traditional business loans, so banks may require additional collateral to secure the loan. This could include a lien on the property or other assets, such as a vehicle or investment account.
  4. Sufficient cash reserves: Banks will also want to see that you have enough cash reserves to cover unexpected expenses that may arise during the construction process. This could include things like delays in construction, unexpected material costs, or changes to the scope of the project.
  5. Experienced contractor: Banks will want to see that you’re working with an experienced and reputable contractor who has a track record of successfully completing similar projects. They typically require that the contractor be licensed and insured. Completing schematic drawings and understanding the actual construction cost can save time and additional questions from the bank’s underwriters. These documents should be included with your loan application.
  6. Proven track record: If you’re an established business owner, banks will want to see a proven track record of successful projects and profitability. This can help assure the lender that you have the experience and financial stability to manage a large-scale construction project.
  7. Projected cash flow: Banks will want to see that the property will generate sufficient cash flow to cover loan payments and operating expenses once the construction is complete. This could include projections of future rental income, sales revenue, or other revenue streams.

Securing a commercial construction loan requires a thorough and detailed application process. By working with a knowledgeable lender and providing all the necessary documentation and requirements, you can increase your chances of being approved for a commercial construction loan and successfully completing your building or renovation project.

Ancon Construction would love to help answer your commercial construction loan questions and learn more about your vision. A 100% Employee-Owned True Design-Build Construction firm since 1975. 

Let’s get your project started…together.

Learn how Ancon Construction’s True Design-Build process provides risk mitigation

Learn how Ancon Construction’s True Design-Build process provides risk mitigation

by | Dec 18, 2023 | Ancon News

 

Let’s start with the basics

What exactly is Design Build? Design-Build is a project delivery method that combines the design and construction phases of a project into a single contract. This method has gained popularity in recent years due to its ability to provide risk mitigation for project owners.

In general, the Design-Build approach is different from traditional construction delivery methods, such as Design-Bid-Build, where the owner hires a designer and a contractor separately. With Design-Build, the owner hires a single team that includes both the designer and the contractor. This team works together from the beginning of the project to the end, which ensures that everyone is on the same page, and the project goals are aligned.

In this blog post, we will explore how Ancon Construction’s True Design-Build delivery method provides risk mitigation and the benefits it offers.

Ancon Construction is a 100% employee-owned company that specializes in True Design-Build construction services, making it an ideal partner for clients who want to mitigate risks and ensure the success of their projects. Ancon’s in-house team of experts includes both designers and construction professionals, who work collaboratively to provide cost-effective solutions that meet the specific needs of each client. By taking responsibility for both the design and construction phases of a project, Ancon can better identify and mitigate risks throughout the project’s lifecycle. As a result, the team is better equipped to identify and mitigate risks throughout the project’s lifecycle.

Here are some ways Ancon’s True Design-Build team provides risk mitigation:

  1. Collaboration and Communication: Ancon’s in-house Design-Build approach emphasizes collaboration and communication between the design and construction teams. By working together, we can identify potential risks and develop strategies to mitigate them. This collaborative approach can help prevent costly delays and change orders down the line.
  2. Cost and Schedule Certainty: With Ancon’s True Design-Build process, the owner receives a fixed price for the project, which helps eliminate cost overruns. Additionally, since the design and construction teams are working together, they can develop a realistic schedule that takes into account potential challenges and risks.
  3. Quality Control: Ancon’s True Design-Build team is responsible for the quality of the project from start to finish. They have a vested interest in delivering a high-quality product, which helps ensure that the project meets and often exceeds the owner’s expectations.
  4. Single Point of Contact: With Ancon’s True Design-Build process, the owner has a single point of contact for the entire project. This simplifies communication and ensures that everyone is working towards the same goals.

Ancon Construction’s True Design-Build team provides risk mitigation by fostering collaboration and communication, delivering cost and schedule certainty, ensuring quality control, and providing a single point of contact for the owner. By hiring our True Design-Build team, owners can mitigate risks and ensure that their projects are completed on time, within budget, and to the desired quality standards.

A Comprehensive Guide to Financing Your Commercial Construction

A Comprehensive Guide to Financing Your Commercial Construction

by | Sep 8, 2023 | Ancon News

 

Financing Your Commercial Construction Project

 

Expanding businesses often consider commercial construction projects as a means to create new job opportunities and bring innovative concepts to fruition. However, the cost of such projects can be a major obstacle. Finding the right financing option is crucial to ensure their success.

Luckily, there are countless financing options at your disposal when it comes to commercial construction projects. This article will delve into the most popular methods of financing these projects, with the goal of empowering you to choose the option that best suits your needs.

 

Traditional Bank Loans
A traditional bank loan is one of the most common ways to finance commercial construction projects. These loans typically have lower interest rates and longer repayment terms than other types of loans. However, they may require a significant down payment, collateral, and a solid credit score to qualify.

SBA Loans
SBA (Small Business Administration) loans are government-backed loans specifically designed to help small businesses, including those in the construction industry. These loans have lower interest rates and longer repayment terms than traditional bank loans, making them a popular choice for financing commercial construction projects.

Construction Loans
Construction loans are a type of short-term loan that is specifically designed to finance the construction of a commercial property. These loans are typically used to cover the cost of materials, labor, and other expenses associated with the construction process. Once the construction is completed, the borrower will need to refinance the loan or pay it off in full.

Crowdfunding
Crowdfunding has become an increasingly popular way to finance commercial construction projects in recent years, bypassing traditional sources like friends, family, and banks.  This method involves soliciting small contributions from many investors, typically utilizing various websites and social media platforms to showcase project details and attract potential investors. While this method can be effective, it typically requires a significant amount of time and effort to raise the necessary funds.

Private Equity
Private equity is another option for financing commercial construction projects. This method involves raising funds from private investors, who will then take an ownership stake in the project. Private equity investors typically require a high rate of return on their investment, so this method can be expensive. However, it can also be an effective way to secure funding for larger projects.

Mezzanine Financing
Mezzanine financing is a type of debt financing that combines elements of both debt and equity financing. This method involves raising funds by issuing debt that is subordinate to other types of debt, such as bank loans. Mezzanine financing typically has higher interest rates than other types of debt financing but may be easier to obtain.

 

There are many different ways to finance commercial construction projects, each with its own benefits and drawbacks. Carefully consider all available options and choose the one that best fits the project’s specific needs. Working with a financial advisor or commercial construction expert can help ensure that the project is financed appropriately and successfully completed. Fortunately, you don’t have to navigate this process alone. Ancon Construction is a valuable partner in this process, with extensive experience and a network of experts in commercial construction financing – ensuring your project’s success.

Established in 1975, Ancon Construction has been a trusted name in the construction industry for over four decades. As a 100% employee-owned company, we take immense pride in our expertise, commitment to excellence, and innovative approach to construction projects. When you choose Ancon Construction, you’re not just partnering with a company; you’re partnering with a team of dedicated professionals who share your vision for success. As leaders in the construction industry, we offer comprehensive construction services to bring your vision to life. Our team of skilled professionals will collaborate with you every step of the way, providing expert guidance and delivering high-quality results that exceed your expectations.

Navigating the complex landscape of commercial construction financing requires careful consideration of options, professional advice, and the support of experts like Ancon Construction to streamline the process. Ready to get your project started? Contact Ancon Construction today, and together, let’s build a successful future!