UPDATE
Installing Water & Electric Utilities

Emma at Arabella Village – Phase II

Tanner, Alabama
| Community Development

Emma at Arabella Village Phase 2 is a 104-lot delivery project in Huntsville, Alabama, within our Build-to-Rent allocation, which represents 70% of our fund.

Next Steps: Complete the Installation of Sewer and Storm Utilities
Fully Funded
100%
FUND LEVEL RETURNS

Emma at Arabella Village Phase 2 is a 104-lot delivery project in Huntsville, Alabama, within our Build-to-Rent allocation, which represents 70% of our fund.

Emma at Arabella Village Phase 2 is located in Huntsville, Alabama, and consists of 104 residential lots. This project follows a lot delivery model, in which we fully develop the lots horizontally—including grading, utilities, and infrastructure—before selling them to homebuilders.

The property benefits from Huntsville’s rapid population and job growth, making it an attractive location for builders seeking to deliver new housing to a growing market.

By taking projects through grading, infrastructure, and utilities, we solve a key problem for builders and capture value by selling build-ready lots at premium prices.

Project Photos

Screenshot 2025 09 16 At 31557 PM
Grading Completed in Preparation for Installation of Utilities (2025)
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Aerial View of Completed Site Clearing (2024)
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Early Progress with Site Clearing (2023)

Project Updates

At any given time, our portfolio includes projects in different phases—acquisition, development, stabilization, and exit. That’s by design. This staggered structure allows us to generate consistent cash flow while building long-term value, freeing us to sell, hold, or refinance based on what the market demands, not arbitrary dates.

Here’s where our projects stand today.

December 4, 2025

Installing Water & Electric Utilities

Last month, we completed installation of sewer utilities for the 34-lot short phase. We are now finalizing water and storm utilities. Once complete, we will begin installing curbs, electrical utilities, and paving the roads as the project continues to advance.
December 4, 2025
September 26, 2025

Installing Sewer & Storm Utilities

Last month, we completed clearing and grading. We are now installing sewer and storm utilities, followed by electrical installation. As development progresses, we receive development fees, which we share with investors through quarterly distributions.
September 26, 2025
August 22, 2025

Completed Clearing & Grading

Last quarter, we completed our pre-construction meeting and began horizontal development. This month, clearing and grading finished. We are now installing sewer and storm utilities, and next we’ll then begin installing electrical utilities.
August 22, 2025
July 16, 2025

Site Grading Underway

In Q1 2025, we received our land disturbance permit. Last quarter, we broke ground and began horizontal development. Grading is now underway. Once complete, we will install sewer and storm utilities as we continue progressing in this project.
July 16, 2025
June 30, 2025

Began Horizontal Development

In April 2025, we finalized the development budget. In May, we completed the pre-construction meeting. In June, we began horizontal development on site. Next, our team will install sewer and storm utilities as we continue progressing toward completion.
June 30, 2025
May 14, 2025

Completed Pre-Construction Meeting

In Q1 2025, we received permitting approval. In April, the development budget was finalized. In May, we completed the pre-construction meeting. Next, we’ll begin horizontal development, including including utilities, road paving, and property dress-ups.
May 14, 2025
April 16, 2025

Prepared to Break Ground

In Q3 2024, we submitted civil plans for permitting. In Q4, we updated our strategy to sell Phase 2 as developed lots to a national homebuilder. In Q1 2025, we received final permitting approval. Next, we’ll break ground and begin development.
April 16, 2025
February 12, 2025

Received Permitting Approval

We received our permit approval and are ready to break ground this quarter. Unlike Phases 1 & 2, where we’ll deliver a fully amenitized BTR community, Phase 3 will be developed and the 104 finished lots will be sold directly to a home builder.
February 12, 2025
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