A Phased Build: Revenue First, Building Second

The hardest thing about rail-served transfer isn't the engineering—it's the funding shape. The conventional approach asks for the entire facility cost up front, before a single ton moves. That's a big bet on spec, and it's why these projects are rare.

McCoy restructured the shape of the build. The principle is simple: turn on revenue early, then let revenue make the big capital bankable.

The four phases

Phase 0 — Asset-light. Brokered logistics and transload. Minimal capital at risk, with revenue turning on in roughly 90 days. This is the prove-it phase.

Phase 1 — Yard operation. C&D, recyclables, and MSW transfer as permits land. The physical footprint goes live, on leased heavy equipment.

Phase 2 — The building. An enclosed transfer facility at scale—debt-financed against proven revenue, not raised on spec. The right tool for the right job, paid for the right way.

Phase 3 — Specialty. Medical waste, a rail spur, and automation modules. The full platform, financed against contracts.

Why this de-risks everything

Each phase is a gate. Capital and decisions are reviewed against measurable milestones—first revenue, breakeven, permits—rather than calendar dates. Customers and permits get resolved in Phase 0, before heavy capital is committed.

The result is a credible path from a single Detroit asset to a full rail-served facility, funded largely by the revenue it generates along the way. Revenue first. Building second.