660 Acres – Fully approved residential development

Purchase or Joint Venture

Bellarossa: 540 acres, 43x 10-acre lots
Palermo: 120 acres, 21x 5-acre lots
Eagle, Idaho foothills
Eagle, Idaho is the premier suburb of Boise, Idaho. Eagle is best characterized by its high-end luxury residential properties, boutique shopping experiences, and sophisticated culinary options .

Palermo = Fully approved and final construction drawings stamped. 100% shovel ready.
Bellarossa = Fully approved as of September 2024. Construction drawings underway.

Video shows Palermo Estates and southern project entrance through Triple Ridge Estates. Palermo is adjacent to and connects through to Bellarossa to the North, which also has access from Eagle Road/Willowcreek.

Project pro-forma
GROSS INCOME
See comparable sales below.
21 x $1.2m = $25.2m
43 x $1.4m = $60.2m
= $85.4m gross income

EXPENSES
Palermo bid (everything but water): $3.5m
Bellarossa bid (everything but water): $11.6m
Water: $12.7m inclusive of Palermo and Bellarossa
= $27.8m total expenses

NET
$85.4m gross income
– $27.8m expenses
= $57.6m net profit  <<<<<<

Note: Staged development (Palermo, then Bellarossa) will significantly reduce total out-of-pocket funding requirements. Palermo proceeds from first twenty-one lot sales: 21 x $1.2m = $25.2m gross income – $3.5m expenses = $21.7m proceeds that can be reinvested in Bellarossa and water expenses.

Comparable sold Eagle lot sales:
TBD Silver Moon, 5-acres, sold for $1,500,000, January 2023
3600 Hope Valley Lane, 5-acres, sold for $1,499,000, January 2022
3795 Hope Valley Lane, 5-acres, sold for $1,400,000, September 2022
4180 N Triple Ridge Lane, 5-acres, sold for $1,350,000, March 2021
4244 N Croft Place, 5-acres, sold for $1,300,000, July 2021
Lot 15 W Duck Alley Rd, 5.41-acres, sold for $1,050,000, August 2024
Lot 4 W Duck Alley Rd, 5.28-acres, sold for $1,225,000, July 2024
Lot 5 W Duck Alley Rd, 5-acres, sold for $1,282,000, July 2024
Lot 6 W Duck Alley Rd, 5-acres, sold for $1,282,000, July 2024
Lot 7 W Duck Alley Rd, 5-acres, sold for $1,282,000, July 2024
Lot 15 W Duck Alley Rd, 5.83-acres, sold for $1,175,000, August 2024
3682 N Hope Valley Lane, 5-acres, sold for 1,275,000, February 2024
3483 W Homer Road, 6-acres, sold for $1,275,000, June 2024
5671 N Willean Ave, 10-acres, sold for $1,240,000, April 2024
5100 Gooder John Lane, 10-acres, sold for $1,225,000, June 2023
Lot 5 W Duck Alley Rd, 5-acres, sold for $1,225,000, July 2024
3653 Hope Valley Lane, 5-acres, sold for $1,199,000, January 2022
Lot 16 W Duck Alley Rd, 5.83 -acres, sold for $1,150,000, September 2024
Lot 9 W Duck Alley Rd, 5.03 -acres, sold for $1,175,000, September 2024
7782 N Fiddleneck Ln, 5.16 -acres, sold for $1,282,000, October 2024
7739 N Fiddleneck Ln, 5.04 -acres, sold for $1,350,000, October 2024

Comparable active Eagle lots for sale:
4038 N Triple Ridge Lane, 5-acres, listed for $1,875,000
3795 N Hope Valley Lane, 5.1 acres, listed for $1,498,000
5320 W Homer Rd., 5.0 acres, listed for $1,350,000
7866 N Hawks Beard Ln, 5.0 acres, listed for $1,195,000

This list contains information from the MLS only. There are likely additional supporting acreage lot sales not present here. High-end large acreage lot sales are sometimes not listed on the MLS as they are sold direct as part of high-end custom build jobs.

Additional notes:
– Both developments fully approved by Planning and Zoning and Board of County Commissioners.
– Veolia water, Sparklight high-speed fiber, and Intermountain Gas will-serve letters in hand.
– All lots will be on septic, as is typical in this area for foothills acreage lots.
– City of Eagle Water feasibility study underway. Might be cheaper as they are closer.
– Palermo is approved with wells, provided connect to municipal water by July 2028, included in costs.
– No water cost up front for Palermo. Installing dry lines for future connection, included in costs.
– Wright will bear proportionate share of Bellarossa and water costs, not represented adjacent.
– Knox has no horizontal cost participation. Design has roadway bifurcating Knox’ parcel. Knox to benefit from horizontal improvements at no cost to Knox.