People just like us

It all started when…

In 2013, while driving to a real estate project near Hudson, NY, David Fox heard something on NPR that changed his life. The program told about a new class of indigent people: college educated baby boomers who lost their jobs in the Great Recession and were still jobless, living on limited social security and eating out of trash cans by the end of the month.

Fox realized that many of his colleagues in the entertainment industry were struggling to reposition themselves in a world that had changed from analog to digital. While building 5 prefab homes on 2 acres each next to an organic farm was a “cool” project, he could no longer continue. He needed to focus on lower cost housing solutions for his cohort.

Fox realized that college towns offered what many other areas did not: cultural and sporting events, walkable neighborhoods, a wide selection of low cost restaurants, etc. If there were appropriate amenities in a beautifully designed building, he could be happy living in a small apartment with his wife.

And then…

Fox connected with Campus Continuum, then a leading consultant to universities on senior housing. He met with the principals and was invited to join. This resulted in a lasting friendship with Company partner Robert Chellis and an introduction to Tim Elliott, a place maker/developer/architect and an advocate of “Campus, Commerce, and Community”. Elliott showed Fox his groundbreaking work in Glassboro, NJ that created a seamless connection between Rowan University and the town.

Elliott then invited Fox to help finance a project with Saint Peter's University in Jersey City, NJ. In October, 2013, Fox met the late Rich Jennings, principal of Realty Capital International. They became partners and raised $60 million in equity from California based CIM. The deal unfortunately fell apart during the due diligence phase.

During this period, Fox started to develop his ideas. Saint Peter's President Eugene Cornacchia suggested that baby boomers could help community non-profits and small businesses. This led Fox to Rising Tide Capital, a “boot camp” for economically challenged entrepreneurs. He went on its board of advisors, mentored two entrepreneurs, and developed a passion for connecting senior business experts with entrepreneurs in need of guidance.

AND NOW…

A team three people formed LGP and is underway with our first project in Northampton, MA.