VAYK Hails $157 Million Federal Grant to Project Almost "Next Door"

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Mar 21, 2024, 09:00 ET

DALLAS, March 21, 2024 /PRNewswire/ -- 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:
[email protected]
+1 972-658-5365

SOURCE Vaycaychella, Inc.