VAYK Hails $157
Million Federal Grant to Project Almost "Next Door"
Dallas, TX -- March 21, 2024 --
InvestorsHub NewsWire -- Vaycaychella, Inc. (OTC
Pink: VAYK) ("VAYK") today issues a public statement, hailing
the grant of $157 million dollar of federal funds, to a downtown
Atlanta project called "the Stitch" ( https://www.wabe.org/feds-award-157m-grant-to-reconnect-atlanta-neighborhoods-with-the-stitch/)
. The project is only two blocks from VAYK's newly acquired $5
Million short-term rental property.
The Stitch (https://thestitchatl.com/)
is a transformational civic infrastructure investment to reconnect
Downtown and Midtown Atlanta.According to its official website, the
Stitch, once implemented, would bring new residents, jobs, and
visitors downtown and include an estimated 3000+ units of nearby
affordable housing. This could result in $2-3 billion in private
investment that would generate $21 to $58 million in new annual tax
revenue.
The company's statement read as
follows:
"We, the management of Vaycaychella
Inc, are excited about the economic benefits and opportunites the
Stitch will bring to downtown Atlanta. The Stitch is a huge
development project almost 'next door' to our $5 million property,
which we had acquired less than one month before the $157 million
federal grant was approved for the Stitch. We believe that the
projected developments of nearby neighborhoods, driven by the
Stitch, will dramatically increase the prospect of revenue to be
generated from our short-term rental operation on the said
property, and may boost the value of the property
immediately."
Last month, Vaycaychella acquired
exclusive rights to renovate a historic landmark property, located
at downtown Atlanta, into a boutique, multi-unit short-term rental
(Airbnb) property. At the time of acquisition, the property was estimated to reach at least $5
million of market value upon completion of renovation, and
Vaycaychella management projected that the short-term rental
(Airbnb) operation may generate revenue of $500,000 to $700,000
annually. Now, the management believes that those estimates should
become considerably higher, although it is still too early to
determine exactly how much the Stitch will benefit Vaycaychella's
business and increase its asset value.
Disclaimer/Safe
Harbor: This news release
contains forward-looking statements within the meaning of the
Securities Litigation Reform Act. The statements reflect the
Company's current views with respect to future events that involve
risks and uncertainties. Among others, these risks include the
expectation that any of the companies mentioned herein will achieve
significant sales, the failure to meet schedule or performance
requirements of the companies' contracts, the companies' liquidity
position, the companies' ability to obtain new contracts, the
emergence of competitors with greater financial resources and the
impact of competitive pricing. In the light of these uncertainties,
the forward-looking events referred to in this release might not
occur.
VAYK Contact:
Contact@Vaycaychella.com