DALLAS, Oct. 20, 2011 /PRNewswire/ -- LIG Assets, Inc. (OTC: LIGA), a provider of funding and financing for business and real estate projects, announces the formation of MedicalCampusGroup, Inc., pursuant to its agreement with HQZ Partners, LP to fund, develop and jointly own the Peachtree Towne Center Project, an estimated $250 million 60-acre mixed-use medical campus located in the City of Mesquite, Texas.
LIGA will file an S-1 Registration Statement with the Securities and Exchange Commission to create a reporting Company on the OTC-Bulletin Board in the near future and has completed a private placement memorandum as a part of the initial phase of the process. Jeffrey Love, President and CEO of LIG Assets, Inc., stated: "The Peachtree Towne Center Project is developing traction in the community of Mesquite, Texas, and we are pleased with the local reaction to the Project so far, but now it is up to us to make the Project a compliment to this commitment."
In furtherance of the Project's goals to be a focus of health and wellness for the people of the City of Mesquite and surrounding areas, LIG Assets, Inc., also announces that Dr. Douglas M. Lawson, PhD., and his company, Lawson and Associates, Inc., have been retained to spearhead the fund-raising efforts for the Peachtree Foundation, a non-profit organization formed to support the Project. This support includes development of a full program for funding research and community health outreach programs. It will also provide funding for a medical advisory counsel, composed of doctors who are important to the quality of health care delivery and the stature of research to be pursued at the center.
Dr. Douglas M. Lawson, a resident of Dallas, TX, began his fund raising career in 1966 and in 1969 he founded Douglas M. Lawson Associates, Inc., a fund raising and management consulting firm which, to date, has served over one thousand clients throughout the world and has assisted in the raising of over 2 billion dollars.
Ben Casey, a resident of Dallas, Texas, and Amanda Thomas, a resident of Nashville, Tennessee, are assisting Dr. Lawson in his efforts. For many years, Ben Casey was the Director of the North Texas YMCA, and he recently served as President of the Presbyterian Hospital Foundation. Ms. Thomas is a proven professional with a strong background in government relations, political and non-profit fundraising and marketing.
The Project will feature a regional primary care hospital, and will include medical and professional offices, a full service hotel, a state-of-the art fitness and wellness center, associated retail and restaurants, a full service conference and convention center, as well as healing gardens, a hike and bike trail.
According to a professional market-research study recently completed by Dixon Hughes, approximately 365,000 people reside within its primary trade area, and the Peachtree Center is located in the fastest growing segment of that market. Currently, the medical needs of that community are substantially under-served, and the area is out-migrating in excess of 60% of its managed care patients. There is a statistically demonstrated need for approximately 546 primary care hospital beds in the area, with a total of only 283 actually being provided. For several years, the residents of the City of Mesquite (as well as much of East Texas), have not had immediate access to healthcare deemed appropriate for a city of its size (140,000), and existing older hospital facilities in the area have found it difficult to accommodate new technologies necessary to meet consumer demands for "easy-to-use" and "accessible" healthcare services. Peachtree Center is destined to become the medical gateway for all of East Texas into the DFW Metroplex, and will provide a substantial economic stimulus to Mesquite and the entire region.
As noted in an Economic Impact Study prepared by Insight Research Corporation, at full build-out the Peachtree Health and Wellness Center is designed to include a 250 bed (400,000 sq. ft.) hospital tower, 96,000 sq. ft. of medical offices, a 40,000 sq. ft. health and wellness clinic, retail stores and restaurants, loft-style residences and a business class hotel with a conference center that are all incorporated into a highly amenitized village or campus-style environment.
HQZ has already constructed a 480 foot bridge at a cost of more than $3.7 million which allows improved access and circulation through the property, terrific views of the creek and its natural amenities, and will provide easy access to the 150,000 cars/day that travel the I-635/LBJ Freeway in front of the property. The project is designed to embrace the natural landscape as part of its overall amenity package and will extend a hike and bike trail from the north to the south end of the property, connecting the hospital, hotel, and fitness centers to healing gardens, restaurants and shopping, a conference center, and numerous other attractions.
According to the Insight Research study, the economic impact to the overall Dallas MSA will exceed $1.84 billion during the estimated 9 year construction and stabilization phase of the project, and will provide direct and indirect employment for in excess of 2,000 full-time jobs. Cumulative tax revenue for the region during this same time period is expected to exceed $158 million.
LIG Assets, Inc. (OTCPK: LIGA), focuses on income-producing opportunities in commercial and residential real estate and overseas oil and gas production sectors. The company acquires, rehabilitates and sells distressed real estate properties and provides second chance opportunities for property owners. Investment properties are presently located throughout the country. LIG is active in the energy market and currently is currently focused on international oil and gas exploration and development.
For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net
Safe Harbor Statement: This press release contains forward-looking statements that involve risks and uncertainties. The statements of this Summary Overview are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results, events and performances could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results, expressed or implied, to differ materially from expected results. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making an investment decision.
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