This common equity raise is for the acquisition, entitlement and build out of our new development in Fremont, CA (4158 & 4170 Central Ave.), which is comprised of 10 3-story townhomes in the heart of Fremont. The project consists of two separate parcels, each with a single family house on it, which we are stitching into one buildable site to take advantage of the higher density allowed by their zoning designations. The site is located on Central Avenue, one block off of Fremont Boulevard and less than half a mile from the Centerville Station, which services Amtrak's Capitol Corridor and the Altamont Corridor Express commuter rail. The property is also located about 1 mile from The Crossroads Shopping Center, one of the largest in the city, as well as 2 miles from Bart.<br/><br/>
We have completed our initial due diligence on the project and are now moving forward to submit our full planning and building applications and close escrow by the end of May. Each of the units will be roughly 1800 square feet with a two car attached garage as well as 4 beds/3 baths. The term of this investment is roughly 24 months, in which time we will entitle, build out, and sell all 10 homes.