Elko Area Map
Tower Hill
All 4 phases have been mass graded. We have completed and sold Phase I, are currently selling phase II and will have phase III ready in 2020
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Sundance
We purchased Sundance which originally consisted of approximately 94 acres of land in a few different APN #’s. I have highlighted the areas in yellow. Sundance Drive bisects 20 acres of the 94 on the east side of Sundance Drive and the remaining 74 acres on the west side. We sold and closed 20 acres and have the balance of just under 74 acres remaining.
We hired Langvard Design of Salt Lake City, Utah to plan for the entire development prior to our selling the 20 acres. The city of Elko has approved the extension of the water line which runs down Sundance Drive in an easement within our property to go out the bottom and feed the Exit 298 light industrial project. This extension is scheduled for next year and the subsequent sewer facilities to follow. We have great interest in acquiring the exit 298 project (The Bar L Ranch) from the Millers who have in under contract with one of our four primary builders (Reynen and Bartus) out of Sacremento doing business in Elko as Artisan Homes. We will not start this project until after the Exit 298 Project begins and the balance of the infrastructure to serve it is placed.
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Hamilton Stage
Hamilton Stage is where we started in Elko in 2010. We acquired water rights for this county project up against the City of Elko and developed a small number of sites to test if we could generate the revenue from it with our model in Elko. We supply lots to builders and have up until now not built homes in Elko. We fully develop the infrastructure and the sites and sell them almost exclusively to the four builders that purchase from us. Reynen and Bartus of Sacramento, Arnold Beck Construction of Elko and Spring Creek are our two largest buyers along with Braemar Construction of Elko and Salt Lake City and a fourth small builder out of Las Vegas has purchased his first 6 lots from us in our 8 Mile Project which is now sold out. Hamilton Stage has 21 lots available.
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8 Mile
8 Mile Estates is now fully sold out. We originally acquired a 24 residential unit project with 2 commercial sites that had been approved but never developed. We took it back through the City of Elko Planning and re-zoned the commercial to residential for a total of 30 sites. Sold them all to our builders in Elko.
JTM’s Larger property Holdings on the South Side of Town
JTM owns a great deal of land on the South Side of town. Our land holdings here are shown in red and consist of approximately 2000 acres adjacent to our Hamilton Stage project that is reflected on the left side of the drawing. Our initial 160 to 224 acres in this area will be a City of Elko project including a portion of the regional road Errecart Blvd which extends across from our Tower Hill Project next to the Hospital and will extend through our property and out over Errecart Bridge. The City has approved its new $22 million dollar sports complex across from our land and has finalized the routing and design for Errecart Blvd. They are currently acquiring the ROW’s for this and we will be going through our Annexation for ROW and development winter of 2015 and spring of 2016. We, however, will wait until we are sold out of phases 1 and 2 of Tower Hill and are developing phase 3 before we get too far along in the planning of this area which will contain single-family residential, Multi-Family and some commercial. The water line will extend past the hospital to our project and the sewer line will come up through the bottom near the sports complex.
We have evaluated the 224 acres that will be a part of our first city project within these APN’s at a higher rate then the balance of the land which we used raw land non city, non approved rates. Ultimately the rear of Hamilton Stage will connect in a very private valley of ranches that we will develop and come over the shelf and down into the South City Project. We will however work our way back to it through the extension of the South City Project and make the connection once we develop back to the valley behind it and adjacent to the rear of Hamilton Stage. We have 20 years worth of projects lined up in Elko.