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McapMediaWire -- Zicix Corporation’s (OTC Pink: ZICX) Chairman, Mr.William A. Petty has received a progress report from its ZICIXPresident, Mr. Fernando M. Sopot that ZICIX+CTIP-FII hasbeen issued a Notice To Proceed (NTP) to start the developmentof the $20 million Senior Citizens Residence Project located at 861-869 Clinton Avenue, (Block 3016/Lot 25), Newark, New Jersey07108 . ZICIX+CTIP-FII in its capacity as the ProjectDeveloper accepted the NTP from the Project Owner ,the International Federation of Chaplains, Inc. (IFCI) to startits development works as mandated in their contract.
ZICIX+CTIP-FII in its capacity as the Project Developer is expected to mobilize allthe participants in the Project which includes the architectural andengineering firm, the structural engineers, and other consulting firmsinvolved in the specialty works.
ZICIX+CTIP-FII , role, obligations andresponsibilities are defined in the contract between the Project Ownerand ZICIX+CTIP-FII . By technical definition, ProjectDeveloper is a professional firm, that manages the operation of aproject, by being the lead of an oversight team, conducting researchand creating plans that best suit the needs of the Project. Its rolebegins from assisting IFCI to create a vision for the propertyuntil the Project is completed and turned over to IFCI .
In addition, the Project Developer creates and proposes to the ProjectOwner , the right financial structure for the Project. In itscapacity as the Financial Engineer for the Project, ZICIX+CTIP-FII will work alongside the Architectural andEngineering Design Group, the Construction Management Group, and theGeneral Contractor, to research, develop project activities,schedules, and regular progress reports, including negotiating withother strategic investors/partners and a lender the right financialstructure for the project, making sure that the terms and conditionsare reasonable and acceptable to the Project Owner.
ZICIX+CTIP-FII will supervise the development team daily to execute assigned taskswithin set deadlines and adherence to the budget. ZICIX+CTIP-FII will act as the primary contact for the Project Owner’s queries and concerns. The role andresponsibilities are further defined as follows:
ExpectedParticipants in the Project
The other participants in this Project with ZICIX+CTIP-FII as the lead team includes WSM & Partners,providing A & E services, Integra Consultants, a structuralengineering consultant, Arco and Jayeff Engineering Co. providingconstruction management services, and another group that is expectedto join as the General Contractor, the China Construction America,Inc., a wholly owned company by China State Construction andEngineering Corporation (CSCEC) rated as top 5 largest internationalconstruction company by the Engineering News Record (ENR)
What does “SeniorHousing” mean?
Senior Housing is housing that is suitable for the needs ofan aging population . It ranges from independent living to 24-hourcare. In senior housing there is an emphasis on safety, accessibility,adaptability, and longevity that many conventional housing options maylack. (Source: nepahousing.org ).
Senior Housing is designed for “Independent Living also called Adult RetirementCommunities” as defined by the State of New Jersey’sDivision of Aging Services . The usual entrance age for this kindof facilities is 55 years old or older. These facilities areregistered with the New Jersey Department of CommunityAffairs.
Project Description
The SeniorCitizens Residence Project is a 5-storey building with oneunderground basement that will be constructed in a lot area of about 12,400 sq. ft. while the footprint of the building is about6,235.40, thus the total gross floor area of the 5-storey buildingwill be 31,177 sq. ft.
The basement floor will include utility rooms andcommercial kitchen. The first floor will include one outpatientclinic, a cafeteria, and a common area for various activities. All theresidential units will be located at the second, third, fourth andfifth floors.
Purpose: This project focuses on serving senior citizensby providing a comfortable lifestyle such as providing various spacesand functions throughout the building for different activities,healthcare, and outdoor areas in a safe and controlledenvironment.
Building Data: Each residential floor is composed of4-one-bedroom units and 7 studio units. The units vary in size from400 sq. ft. to 510 sq. ft. Notably, the first floor will host a clinicwith a 900 sq. ft. space, a common area and a cafeteria (1,800 sq.ft.) and covered parking. The basement level will also be equippedwith a complete commercial kitchen to serve the residence. Theexterior architecture of the building complements the nearby buildingshaving partly brick facades, while keeping a contemporary and balancedform.
Construction period: 24 months.
The BudgetaryCost
Thetotal budgetary cost (development cost) estimates (BCE) are expectedto be about $20,000,000,.00 with the following breakdown: A) SoftCosts and other expenses- $1,975,000.00, and B) $18,025,000.00 for theconstruction costs. The total number of residential units will be 44at 11 units per floor starting at the second floor to the fifth floor.There will be a nice well decorated lobby at the ground floorincluding administration office and commercial spaces.
ZICIX+CTIP-FIIinvestments
The contract between IFCI and ZICIX+CTIP-FII includes the option of ZICIX+CTIP-FII to invest into Project byacquiring partial ownership interest into the Project .
ZICIX+CTIP-FII is currently having a portfolio of infrastructure projects undermanagement of more than $825 million, involving construction ofbuildings, hospitals, public road projects, renewable energy, and thesupport to various Ministry of Health (MOH) in several countries fortheir Disaster Preparedness Plan, by supplying emergency vehicles tothe Local Government Units (LGUs) through MOH.
Special PurposeEntity (SPE)
The Project will be owned by an SPE named and registered as SAResidence for Seniors, Inc. (SARSI). The IFCI, in its capacity as thelandowner, shall assign the land to the SPE as part of its capitalcontribution for the Project.
$20million Senior Citizens Residence Project (MultimediaPresentation)
About the Corporations:
ZICIX Corporation (OTC: ZICX ) –Originally founded as a service provider to the Healthcare industry,the ZICIX Corporation has recently been restructured with theintention of acquiring and developing technology applications designedfor service companies in consumer, retail, and other industries. www.ZicixGroup.com .
CTIP FirstInvestment, Inc. (CTIP-FII) , a subsidiary and operating company of ZICIX Corporation . It is a private investment and providinginvestment banking services focused on Public-Private-Partnership(PPP) mode, and project development services, involved in undertakingdevelopment projects for both the Government and the Private Sectorsrespectively. CTIP-FII designs and brings the right financialengineering to project owners and creditors to fund developmentundertakings and permanent mortgage.
Safe Harbor Act: This release may contain“forward-looking statements” within the meaning of Section 27A ofthe Securities Act of 1933, as amended, and Section 21E the Securitiesand Exchange Act of 1934, as amended, and such forward-lookingstatements are made pursuant to the safe harbor provisions of thePrivate Securities Litigation Reform Act of 1995. “Forward-lookingStatements” describe future expectations; plans, results, orstrategies and are generally preceded by words such as “may”,“future”, “plan or planned”, “will” or “should”,“expected”, “anticipates”, “draft”, eventually”, or“projected”. You are cautioned that such statements are subject toa multitude of risks and uncertainties that could cause futurecircumstances, events, or results to differ materially from thoseprojected in the “forward-looking statements” because of variousfactors, and other risks identified in a company’s annualreport.
Foradditional information: Visit our website at www.Zicixcorp.com orcall 830.331.0031. We are also on Twitter .
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