I wanted to give everyone an update on our LHS property in Wylie. For the last 2 years we have worked with 8 contractors to try and get any movement on breaking ground for the shelter. Covid hit shortly after we started working on securing a contractor and the prices of all building supplies sky rocketed. The ability to get people working also has continued to be an issue. We discussed waiting to build until the economy settles and prices go back down. In that time, the property has needed the septic system completely redone ($20,000) and both AC units replaced ($10,000). The contractors had major concerns that the building cannot sustain the remodel we had planned and we would need to design completely separate buildings on the property (keeping in mind this property was build in the 70’s outside of city limits therefor the plumbing and electrical is not to code and all needs to be redone for a commercial setting). With the cost at an all time high, it does not make financial sense to nor is it financially feasible to afford the ground up buildings needed for operations, kennels, and the vet suite with the current state of the economy.
We held off on the annual fundraiser in 2020 due to Covid and this year we held off on the annual fundraiser due to the current value of the property. It is currently estimated to be worth $1.375 million. We currently owe $170,000 on the existing building/property. We have decided to list the property for sale and we are seeking store front options (like Pappy’s Pet Lodge or other boarding facilities) that have an existing structure and high traffic for adopters. We feel it is the best use of our organization’s assets to take the profits from the sale of the property and use that funding to invest in a remodel of an industrial/commercial option. We can also open the doors to the shelter much quicker by doing a remodel of a commercial suite, vs a ground up build. We have put a hold on any annual fundraisers until these plans are further solidified as we do not want to raise funding for the existing Wylie building/property or new site plans until the new location is confirmed and the Wylie property sells.
I know this shift in plans can be concerning for those who have invested in the LHS shelter over the years. The new commercial site will still include all of the sponsored kennels as promised to donors. Please know that in waiting to begin construction until we had the funding to properly build and maintain the property, has increased the net worth of LHS to $1.5 million through the inflation of the Wylie property’s value and assets on hand. We will continue to keep everyone posted as the new site plans develop and or the sale of the Wylie property is complete. We do not have any offers at this time as it was recently listed for sale but we are hopeful for interest in due time.
While the shift to a commercial option is certainly a different direction, it will truly be the best option for LHS and the animals we service. If you have any questions, comments or concerns about the LHS shelter plans. Please let me know. We thank you all for your patience and support through this transition. As always, thank you all for everything you do to help all of the LHS animals we service.
Have a wonderful week!