Prescott’s real estate market has grown a lot these past few years. With the population growth averaging around 2-3% each year (Max Efrein, The Daily Courier), there is no question that there is a need for more housing in their market. Recently there has been more development in multi-family residential construction and new neighborhoods being constructed to keep up with the growing population. All of us a Capital Fund I have been lucky enough to be a part of this growth firsthand by providing the acquisition and development loan for Hillcrest at Forest Trails.
Since the loan was originated in the fall of 2015, we thought it would be fun to look back through the progress that has been made on such a large construction project. Starting off as partially developed land, Hillcrest has completed the infrastructure work (streets and utilities), and has begun production of its first model home. With 44 lots available to build semi-custom homes on, we are excited to see how the community will evolve.
If you’d like to learn more about Hillcrest at Forest Hills, you can check out our other blog post here that showcases the start of the project here, or you can visit their website at www.hillcrestaz.com.
Take a virtual tour of Hillcrest at Forest Hills, watch the short video below.