April 2024 Update

The Big Idea:

Signs of Spring are here!

All indicators are looking good

We’re excited to have two houses close this month, our presales remain strong, and the volume of interest continues to grow. The home market in Whatcom County continues to show strength, and our price point seems to be ideal!

Our bank partner has increased our Line of Credit

In support of the strong showing of this project at this phase, WaFed has increased our borrowing capacity so we can build more presale houses without reducing our spec count. We’re thrilled with their continued support of us in this project!

The park will be built in two phases

The Central Park will have the site grading, trails, and a few plants installed later this spring, once the soil dries out a bit more. We’ll postpone any fancier upgrades until this time next year, for two reasons. First, we want to focus on getting our debt lowered so we’re spending less money on interest. And second, we’d like to see what sort of interest our new homeowners will have, as the HOA begins to take shape.

We’ve hired a new EA, and we’ve moved offices

Please welcome Alexandra Evans!

We've rented some new office space, please note the new address:
300 N Commercial Street
Bellingham, WA 98225

Interest Reserve Account

With the third house closing on Friday 12 April (Lot 5), and all the sales activity on site, we continue to remain confident that we'll have the sales volume to meet our bank requirements!

Interest reserve account update