Covington Creek 1

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October 2024

Vertical Construction is complete. We have received Certificates of Occupancy for all 52 homes and accepted them into the leasing pool. We are currently 80% leased with 5 move-ins scheduled for November.  Common areas are under construction with all sidewalks poured and the fire pit installed. The monument sign is complete and landscaping of the common areas is 95% complete. The guardrails and landscaping have been installed along Fairview Road and construction of the Dog Park and the final paving topper is scheduled for November.  


September 2024

Vertical Construction is almost complete on the last 7 lots in Phase 1B and we expect certificates of occupancy by the end of October. We have received Certificates of Occupancy for all 49 homes in phase 1A and have accepted delivery of all homes. We are currently 70% leased and signed two new leases set to move in on October 15th. The Final Pond Mucking and construction of the Fire Pit and Dog Park amenities to continue this month.  


August 2024

The first 45 homes all have their certificates of occupancy and we are 60% leased with more coming. The framing and hose wrapping are complete for the remaining 7 lots and interior work is progressing. We expect the delivery of the first 4 at the end of September and the rest by the end of October. Common areas are under construction with the monument sign complete and landscaping progressing. The final pond mucking and construction of the fire pit and dog park are to commence in September.


July 2024

We have Cos for all 45 homes in phase 1A and have begun the turnover process for the final 13 homes completed. We are 55% leased on these homes with more coming. For phase 1B, the framing and house wrap are complete for all 7 homes and interior work is progressing. The common areas have all sidewalks poured. The monument sign is complete and landscaping is progressing. Construction of the Fire Pit and Dog Park is scheduled for next month.


June 2024

We now have 13 homes being lived in with another 8 under contract. That is 21 with signed leases so far. Plus, all 45 houses in phase 1A have their Certificates of Occupancy. This has been great progress. Framing and house wrap are complete for Lots 1-4 of the remaining 7 being built and the slabs for lots 5, 6 and 7 have been poured.


May 2024

Vertical Construction is progressing quickly. The final plat for lots 1-7 has been recorded and the building permits have been submitted. We have received building permits for the first 45 homes and all are under construction with four more homes having received a Certificate of Occupancy for a total of 39 so far. The next 4 of the 7 slabs have been poured. Leasing has been strong and 20% of the available units are leased at or above Proforma rents.


April 2024

Vertical Construction is progressing quickly. The final plat for lots 1-7 has been recorded and the building permits have been submitted. We have received building permits for the first 45 homes and all are under construction with 35 homes having received a Certificate of Occupancy. The next 7 slabs are scheduled to be poured in May. The property manager has been onboarded and since pre-leasing commenced in February, five homes have been reserved. We are awaiting for the leases to be finalized.


March 2024

Vertical Construction is progressing quickly. The final plat for lots 1-7 has been re-submitted. We have received building permits for the first 45 homes and all are under construction or delivered. There are now 42 homes dried in and another 3 where framing is substantially complete. The next 7 slabs are scheduled to be poured once the phase 2 final plat is recorded and building permits issued.

We received the Certificates of Occupancy for the first 5 units and will receive 5 more the first week of April. The model has been staged and the leasing agent has been on site since March 15th, 2024. We have substantial foot traffic but until Friday did not have any units available for rent. We are 30 days ahead of schedule for unit delivery and intend to lease up accordingly.


February 2024

The final plat for lots 1-7 has been submitted. We have received building permits for the first 45 homes and the first 32 slabs have been poured. There are now 26 homes dried in and another 3 where framing is substantially complete. The next 10 slabs are scheduled for the first week of February. RangeWater has been on-boarded and we are working on a marketing package, pre-leasing to commence February 1st and we plan to have one of the Models staged with a full time leasing on site by March 1st.


January 2024

The final plat for lots 1-7 has been submitted. We have received building permits for the first 45 homes and the first 32 slabs have been poured. There are now 26 homes dried in and another 3 where framing is substantially complete. The next 10 slabs are scheduled for the first week of February. RangeWater has been on-boarded and we are working on a marketing package, pre-leasing to commence February 1st and we plan to have one of the Models staged with a full time leasing on site by March 1st.

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