08.30.19 Update

River Glen I & II – Rochester, MN // This large project is a 2 – phase project consisting of 1 clubhouse, 13 buildings and 208 units. Started in the summer of 2017, this project has battled the elements through the harsh Minnesota weather to gain some significant traction as the snow and cold weather temps finally gave way in late April of 18. Building turns are in full swing on this project and site work is finishing up with final touches on landscape and site amenities. Completion of this project is scheduled for late September of 2019.

Rosewood Station – Happy Valley, OR // As our second project in the Portland, Oregon area, this project began construction in May of 2018. Rosewood Station will consist of 212 units in 5 buildings with integrated clubhouse. Framing is well underway, with rough-ins in full swing preparing for drywall. First building/clubhouse is projected to be ready/finished in early 2020.

Culebra Creek – San Antonio, TX // This 13 building (312 units) project started in early August of 2019 and is off to clean start. Tree preservation measures are in place and the site clearing is complete. Utility installation and mass grading have also commenced. Scheduled completion for this project is late summer of 2021.

Granite Pointe – Charlotte, NC // This North Carolina project consists of clubhouse, 11 buildings and 198 units. Started in the fall of 2018, this project is well underway. As the name suggests, rocky soils conditions have been a constant challenge for grading and utility install. Mass earthwork, utility install, and retaining wall installation are nearing completion as building footings and under slab plumbing are moving forward. Completion of this project is scheduled for late fall of 2020.

The Kent – Carmel, IN // Located here in Carmel, IN, The Kent building is well underway in the construction process. Starting in the summer of 2018, this project was off to a strong start before weather set in this past winter during the footing excavation and under slab plumbing phases. After some significant wet weather delays, this project is moving forward and is currently finishing up with steel erection, masonry elevator shaft work, and the framing has started. This project will be a 3-story single building structure consisting of one, two and three bedroom units on all 3 floors for a total of 80 market rate units.

Lakeview on the Rise – Ft, Collins, CO // Consisting of 180 units in 17 buildings, Lakeview on the Rise (LOTR) started construction in January of 2019. To date, mass earthwork and utilities (including a major offset sanitary extension project) are all but complete. Site concrete and paving are down as a pre-requisite to vertical construction and building construction is scheduled to commence in the next week or two. Building pads are ready and we anticipate some steady momentum carrying us forward through the buildings as we move towards the end of 2019. Clubhouse and first building should be ready for occupancy first quarter of 2020. Anticipated completion of this project is scheduled for late 2020/early 2021.

Larkridge – Thornton, CO // Starting in November of 2018, this large project consists of 1 clubhouse, 14 buildings, and 10 garage structures for a total of 338 units. As with other Colorado projects, emergency access and paving are required prior to vertical construction. earthwork and utilities are near 100% complete and portions of curb and paving are now completed and acceptable for vertical construction to commence. Footings, under slab plumbing, slabs are in full swing with the clubhouse being framed. Completion of this project is scheduled for late September of 2019. Late 2020/early 2021 is the scheduled completion date for this project.

Trails at Leon Creek – San Antonio, TX // This project started construction in August of 2018 and is in the midst of finishes and building turns. Inclusive of 296 units in 13 buildings plus clubhouse, all buildings are in the finishing phases/post drywall install. Unseasonable rains and wet weather conditions hampered this project early, but a rally by our management team and subcontractors has made up some significant time. Power has now been acquired to complete finishes. The clubhouse and first building will be ready for occupancy late 2019. Anticipated completion of this project is scheduled for summer of 2020.

Residences of Long Branch – Rowlett, TX // One of our smaller projects at 76 units, this 2 building project started in July of 2019. Utility installation and mass grading have commenced and are currently about 75% and 60% complete respectively. Retaining walls are also currently under construction. Both buildings are through under slab plumbing and the concrete slabs are poured ready for framing to start. Scheduled completion for this project is early fall of 2020.

Shadow Ridge – Round Rock, TX // This project started construction in July of 2018 and much like our Oak Valley in San Antonio, is in the midst of finishes and building turns. Inclusive of 316 units in 15 buildings plus clubhouse, buildings 1-5 are in the finishing phases/post drywall install. Installation of permanent power has been one of our biggest challenges and has now been acquired to complete finishes. The clubhouse and first building will be ready for occupancy late 2019. Anticipated completion of this project is scheduled for summer of 2020.

Bella Grove – Rochester, MN // This 8 building (128 units) project started in late August of 2019 and is off to clean start. Utility installation and mass grading have commenced. Scheduled completion for this project is spring of 2021.

Playfair Building – Carmel, IN // Construction activity has started at the Playfair building with building pads and footing install commencing in August of 2019. Part of a “C” shaped structure with the Holland building, the Playfair is off to a quick start on a compact site located in the heart of City Center in downtown Carmel, IN.

Holland Building – Carmel, IN // Construction activity has started at the Holland building with utility work and building pad construction starting in late fall of 2019. Part of a “C” shaped structure with the Playfair building, the Holland construction activities will be starting very soon on a compact site located in the heart of City Center in downtown Carmel, IN.