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Colony Farms Update: July 2020

 

Magna, Utah — Colony Farms

As we approach the middle of summer here in Utah, construction is full steam ahead. We couldn't be happier with how this project is starting to take shape and are happy to give some updates today on the various project phases.

To date, construction and lease-up have not seen delays related to Covid-19. Completion and Certificate of Occupancy in Colony Farms in Phases 1-3 have been completed. We anticipate Phases 4-5 to be completed in the next 2-6 weeks.

Phases 6-9 are moving along nicely as well. You'll notice in the drone footage that the clubhouse has already been started and we hope to finish in the next 1-2 months. Vollkommen Construction has done well to push along and finish each building within 12-months or sooner.

All units in Phases 1-2 are completely leased up along with most of Phase 3. Those invested in these phases should know that the hand-off to MAXX PM has gone smoothly and we are extremely happy about how the "stabilization" period has gone. Thanks to MAXX PM for getting these units filled asap.

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Each year, the Fourplex Investment Group releases new multifamily projects in a variety of markets. FIG's waitlist is the easiest way to grow your portfolio before reservations fill up.