Additional CIC Borrower Success Stories

Duane Ehresman

The rehab of the property on Central Avenue in Austin posed many challenges: the 10-unit building was completely vacant; a fire had destroyed three top-floor units and charred portions of the roof; and significant rehab was necessary to make the building habitable. Finally, appraised value would not support total rehab costs.

Through CIC’s Flex Fund Program and equity refinanced from another one of his buildings, the owner, Duane Ehresman, received financing needed to complete the rehab project, without the need for government funds. Once an eyesore, this building is now considered a superior property.