We entered into a partnership with the premier real estate developer in the Boise market to purchase, develop, and sell lots to Alturas Homes and the single family home building division of our development partner. The project is in the entitlement phase and we expect to break ground on horizontal development in 2022 with lot deliveries beginning in late 2022 or early 2023. The development project is expected to last between five and seven years and should provide a healthy return on capital for the Fund over that time period. We hope that this project will open the door for future opportunities for the Fund to invest in single-family and multi-family projects in the Boise area.
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