Tower Hill:

Phase 1:

We have developed and closed the first 23 sites in Tower Hill. Arnold Beck Construction purchased all of those lots in under 12 months from the time we were able to sell them at $70,000 per lot. They have completed 11 homes and have several more under construction for customers and for spec.  All Lots of this phase have been sold.

Phase 2:

We are currently developing Tower Hill Phase 2 at a cost of just under $800,000. We have 23 lots that will be priced at approximately $72,500 each. Our sales for the 23 lots equates to $1,667,500. We are under contract and expect to have all lots sold and closed within 12 months of their availability.

Phase 3:

Tower Hill Phase 3 has not been developed. We have 27 lots in Phase 3 that are through preliminary approval. Once we go through final approval we have 24 months to complete the construction. We will wait until Phase 2 is complete and the plat recorded to go back to planning and city council for final approval. This is a 75 day process and we will have this before or shortly after the first of the year 2020. Our approximate construction costs for Phase 3 are $840,000 and we will sell our sites for approximately $76,000 for a total sales of $2,052,000. Both Arnold Beck and Merwin Project Management have asked to be able to purchase lots in this phase also. There is a predicted 12 to 14 month sales period for this phase from the time the lots are available.

Tower Hill Video: