Entrata Farms UpdatesSep 09, 2021
- Meridian, Idaho
- Google Street View
- 238 Doors
- 13, Duplexes, 53 Fourplexes
Certificates of Occupancy/Temporary Certificates have been received on all units through to unit KK. Leasing has gone phenomenal in Entrata Farms Phase 1, with rents coming in a few hundred dollars higher than original proforma projections.
In the drone footage below, you'll see that the majority of landscaping in Phase 1 is completed, with the clubhouse not far behind (the pool still has some touching up needed before being filled). Phase 2 is still under construction as a result of framing slowing down due to supply and labor shortages.
The majority of footings and foundations are installed, so now it's a matter of framers and the lumber crew catching up. We'll be sure to have more drone footage in a few months to give another update.
If you have any questions, please reach out to your designated FIG agent.
We're excited about the progress at Entrata Farms! Framing in phase 1 is almost complete, with some units on track to receive certificates of occupancy in early Q1 of next year. We expect most of phase 1 to be delivered and hit the market for rent within the first half of 2021. Keep checking back here for more updates as construction progresses.
Maxx Property Management is already fielding inquiries from prospective tenants—which is a great sign! Closings in phase 2 are progressing well. We anticipate having all phases of Entrata Farms closed and under construction by the end of this year. Please direct any questions to your FIG agent here.
Note: You may have heard, but the entire U.S. is struggling with a shortage of appliances. More info from NPR on the situation, here. FIG has been ordering appliances aggressively, and to date, we've been able to fill orders. Even with the advantage of being a large quantity buyer, our suppliers are getting a little nervous! To combat this, FIG is taking a proactive approach and is in discussions to substitute out some alternative brands and/or makes if needed. We'll be sure to keep you in the loop as we work our way through this appliance shortage.
Framing at Entrata Farms has begun moving along at a nice pace and you'll see in the video above that we've begun roofing as well. In Phases 3-4, footings and slabs are poured in with framing set to start very soon. Phase 5 is next in line to start seeing movement.
Looking over at the second half of this project; closings on all multifamily for sale will begin with Phase 6 in mid/late September 2020.
We recently announced that we're switching up cabinet options! We now offer Gray cabinets with white countertops and white cabinets with dark countertops. Exact selections will be shared out both on this site and via email (current Entrata Farms investors will be notified as soon as we have the details ready).
Any questions? Direct them to our team and we'll help you out right away. We hope you enjoy your last few weeks of summer break!
Things are moving along great in Entrata Farms. As you can see in our latest drone footage, our buildings are in a few different phases: framing, footing/foundation, and lastly we have units that are excavated and ready for footings.
Phase 5 is now wrapping up on closings. In just a few months we'll start closings on the second half of this project (September). With this in mind, we do still have a couple of fourplex's available. This may be a good opportunity for those of you looking to do a 1031 exchange. Let us know and we can run the details by you and see if it's a good fit.
We have updated drone footage of our Entrata Farms site. As you can see the horizontal development is coming along great. We are on track to close phase one at the end of December and officially begin vertical construction.
We will begin taking reservations for the second half of the project in January. Reach out if you are interested in being one of the first ones to find out.