Current Projects

(The projects are closed to new investment but are still in progress)

North Dallas Rental Fund

Grow Developments is teaming up with NTX RES to acquire discounted properties in high growth parts of North Texas. Our business plan is to renovate the properties with luxury finishes, and lease them to the many high-income professionals moving to the area.

Prescott Ranch – Residential Development

We acquired 153 acres of raw land in Belgrade, near Bozeman, Montana. Our initial plan was for 601 lots in 2018, but we were later able to increase the approved lots to 662 dwelling units. As of mid 2022, 343 lots are finished and we have closed sales on 138 homes. The business plan anticipated a 5-7 year roll out and sales are on schedule as housing inventory is low in Bozeman and more people moved to remote locations due to Covid-19. Higher interest rates have slowed sales a bit, but we anticipated that and have plenty of reserves on hand

Challenge III Debt Fund

The debt fund holds a note in 1st position against the Challenge Dairy commercial building in Dublin, California. Investors receive quarterly distributions towards their preferred return and will receive the balance when rents are raised or the property is either refinanced or sold. 

Little Lane at Carson City, Nevada

We acquired 21 acres of land, walking distance from the State Capitol Building and downtown Carson City, NV with the intention of building detached townhomes. Our map was approved for 149 homes in 2019. COVID-19 shutdowns have delayed construction, but it has opened up now. Demand for these homes has been strong as they are being offered at the median home price of the area, and there is currently a shortage of homes. Investors are expecting a 15% preferred return plus share of profits.

Commercial new construction, Belfield, North Dakota

We partnered with an experienced commercial development group to purchase land in Belfield, North Dakota with the intention of entitling and developing the land for mixed-use commercial, and then selling the pads to businesses. The land is located between Hwy 94 and Hwy 85, a main thoroughfare for North Dakota and just miles from the planned Davis Refinery. The region sits atop the Bakken, Three Forks, and Tyler shale formations, and the area was thriving with oil industry activity at the time. OPEC dropped oil prices after we purchased the land, and activity in the region slowed dramatically. The other large-scale oil projects that were slated for development were stalled. With today's administration and the push for clean energy, shale activity has not picked up. We own the property outright so our holding costs are manageable as we wait for more favorable conditions. Lessons learned: Oil towns are volatile. This was inherently a riskier investment, as was disclosed in the offering documents and in presentations. The timing was not on our side, but we are able to wait it out.
A rendering of an apartment building with garages.

Discovery Ridge, Park City, Utah

We acquired 69 acres of entitled land near Park City, Utah, just 25 minutes from the Salt Lake City airport. We are building 97 residences on just 22 of the acres, with the remainder held as open space per county demands. Horizontal construction began in 2018, and the townhomes in both Phase I and II have been built and sold. Custom homes are now under construction. 

Rise Costa Rica

We invested in an eco-friendly residential community and spa retreat center on 800 acres near one of the fastest growing cities in Costa Rica. A new international airport is slated for development within 20 miles of the property and a new road has been built to the beach. The land is entitled, earth work has begun, a luxury “glamping” site is in operations, and home lots are being sold. This project was been delayed due to COVID shutdowns. On a positive note, demand for sustainable, off-grid living in nature has increased in 2020. The land is entitled, earth work has begun, a luxury “glamping” site is in operations, and home lots are being sold. This project has been delayed due to COVID shutdowns. On a positive note, demand for sustainable, off-grid living in nature has increased in 2020.

The Mirada, Pasco County, Florida 

We acquired acquired a 10% interest in an entity that acquired bank-owned land with 4200 residential lots for $16M in 2013. This same land had been in escrow for $160M in 2006. The project has been renamed the Mirada, with the golf course redesigned as a Crystal Lagoon feature. Investors will be entitled to a 15% preferred return and a share of profits.
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