In Q4 of 2024, we updated the residential business plan, combining Emma Phases 1 and 3 into a single, fully amenitized build-to-rent community while selling Emma Phase 2 as finished lots to a national homebuilder.
We have recently secured a loan to begin vertical construction on Phase 1. Additionally, we have broken ground and finalized a contract to sell Phase 2, while continuing to work on zoning and product placement for Phase 3.
Once we finalize the business plans and begin vertical construction on all residential phases, we will proceed with finalizing the business plan for the commercial side of this property.
