FOR IMMEDIATE RELEASE
Contact: Darnell Goldson
RCN Capital Employees Assist with South Marshall Street Initiative
**UPDATE**– Due to the weather the Hartford Habitat for Humanity build has been postponed. The new date is Friday, October 14th.
Hartford, CT – September 29, 2016 – RCN Capital of South Windsor answered the call for volunteers by the Hartford Area Habitat for Humanity’s 23rd annual two-week long Build-A-Thon, by encouraging their employees to work on two homes on September 30, and has provided paid time, a donation to Habitat, as well as transportation to the worksite.
The Build-A-Thon is Habitat’s building blitz and biggest fund-raiser of the year. It brings together employees volunteering from corporations and small businesses throughout the Greater Hartford community in order to build simple, decent, affordable housing for working families.
The South Marshall Street Initiative began in 2011 and has already completed construction on a 16-house building project in the Asylum Hill neighborhood. The project is breaking ground across the street on an additional six homes to extend the development to almost the entire city block. Two dozen RCN Capital associates will spend the day volunteering by working on framing two homes.
Asylum Hill has the lowest homeownership rate of Hartford’s 17 neighborhoods. This project is seen as an essential foundation for improving the area, where 37.5% of Asylum Hill residents live below the poverty line and only 567 of the 5,625 housing units are owner-occupied.
RCN Capital was established in 2010 and has quickly become one of the nation’s premier direct private lenders. Private lenders fill a niche that conventional financing sources have ignored for years, including providing acquisition and rehab loans in underserved communities. The company specializes in providing time-sensitive, bridge financing to real estate investors to fund the purchase of non-owner occupied residential and commercial properties.
“We were extremely happy to be able to assist with rebuilding South Marshall Street”, said CEO Don Vaccaro. “We have been investing in Hartford for several years now, and are always eager to invest in those communities where traditional lenders are not.”
Jeffrey Tesch, RCN Managing Director, is optimistic that the company will continued to invest in Hartford, including the Asylum Hill area. “Our business may be to provide the capital to rehab distressed properties, but our true mission is to convert those eyesores back into homes where families can be raised,” says Tesch, “we see potential in Hartford, and are successful here because we continue to go the extra mile for our clients.”
Corporate partners from all over Greater Hartford will be participating in the Build-A-Thon in an effort to winterize Hartford Area Habitat for Humanity construction sites. To volunteer contact firstname.lastname@example.org.
About Hartford Area Habitat for Humanity
Founded in 1989, Hartford Area Habitat for Humanity is a 501 3c nonprofit affiliate of Habitat for Humanity International. In its 27-year history Hartford Area Habitat for Humanity has built over 214 homes in the Greater Hartford Area and over 270 homes internationally. For more information, visit hartfordhabitat.org.
About RCN Capital
RCN Capital® is a national, direct private lender. Established in 2010, RCN provides short-term commercial loans ranging from $50k to $2.5M+ to fund the purchase of non-owner occupied residential and commercial properties, provide bridge loans, and provide real estate-backed lines of credit. RCN lends to experienced real estate investors, commercial contractors and small business owners throughout the country. For more information about RCN Capital®, please email info@RCNCapital.com or visit our website, www.RCNCapital.com.