Blackstone Farms UpdatesMay 07, 2021
- Provo, Utah
- Google Street View
- 208 Doors
- 52 Fourplexes
We're happy to see construction moving full speed ahead at Blackstone Farms! Across the industry, concrete shortages have been a challenge. To combat this, our construction team has been using their own machinery to make concrete on-site...
You'll notice in the video that in the first batch of buildings, the bulk of framing is done. Shortages in roof trusses have slowed things down a little, but we're making our way through them and shifting subs between buildings as new trusses continue to arrive.
In spite of a late start, construction is projected to finish within the 12-month timeframe. The bulk of the foundations and framing are either done or in process.
If you have any questions, please don't hesitate to reach out to your designated FIG agent.
We've finished up the main public road that goes through the center of Blackstone Farms, and have now graded and prepped the edges of the project for parking lot paving. Footing prep is just starting on the first few buildings. We expect underground plumbing and foundations to be completed sometime in December. A lot of lumber will be coming up out of the ground on our next update!
We've begun aggressively closing construction loans in Blackstone Farms after a lot of delays with land acquisition and plat modifications. The main road through Blackstone is now paved with curb and gutter, and underground plumbing is underway on the first few buildings! The plan is to pushing forward on this project and get as many foundations in the ground before winter as we can. This fourplex development is our first-ever Opportunity Zone project and we're thrilled to see things moving forward!
While there's not much to see other than a bunch of snow, there's definitely a lot to be excited about! With Blackstone Farms, we have a rare opportunity to get into a brand new multiunit in Southeast Provo.
Currently, this property and surrounding areas will have more of an "industrial feel" but don't let that fool you. This project is found inside an Opportunity Zone, and with the announcement of the Brigham Young Universities' new Medical School (down the street by the East Bay golf course) this area is likely to change in big ways.
We are already starting to see some of these changes, making this a prime location for investors and future tenants once completed.