ALTA Development: Templeton Gap
- Committed to Date
$0 USDC
- Term
0 Months / 0 Days - Interest Rate
0.00% - Interest Redemption
Daily
- Open To
Global residents - Go Live Date
April 20, 2023 - Minimum Goal
$605,000 (USDC) - Type of Offering
First Lien Position (Debt) - Sponsoring Entity
Alta Development x Templeton Gap LLC
Summary
The use of capital is to provide Alta Development x Templeton Gap LLC with capital as they develop a residential neighborhood in Colorado Springs, Colorado, US.
Highlights
- The use of funds is for equity and carrying costs on the Templeton Gap project in Colorado Springs, Colorado, US
- Financing period is 1.5 years or 18 months
- Interest rate is 12% per year, with a full interest reserve in the smart contract
Financial Highlights
| Capital Needed | $500,000 |
| Interest Reserve (On-Chain) | $90,000 |
| Fee | $15,000 |
| Total | $605,000 |
ROI Property Group Principal (Developer of Templeton Gap)
Rob Fuller began investing nearly 15 years ago in residential real estate across many national markets. His real estate experience includes acquisition, financing, development, and sale of real estate. In 2015, he formed ROI Property Group, LLC (ROI), which develops and builds residential communities. ROI currently has 10,000 lots in various stages of entitlement, development, and home building across multiple states.
Mr. Fuller is also a co-founder, majority shareholder, member of the Board of Directors, and CEO of Housefolios, Inc., a real estate technology company (housefolios.com).
Rob Fuller grew up traveling as the son of an Air Force Colonel. He graduated Magna cum Laude with a BA in philosophy from Brigham Young University. He lives with his wife, Nicole, and their 3 children in Utah.
Templeton Gap
Templeton Gap is strategically situated amidst several residential and commercial neighborhoods, with The Ridgeview Marketplace located just to the east.
Additionally, the southern direction offers a wide range of amenities including restaurants, medical centers, parks, and storage facilities. As the surrounding area is zoned as a city, ROI is currently working towards annexing and rezoning the land for the Templeton Gap project from the county to the city. This will allow for greater neighborhood unity and continuity. Although the plans are still in the discussion and drafting stages, the intention is to create a stunning single-family residential community with a park and clubhouse that will complement the surrounding neighborhoods.
Once completed, Templeton Gap will offer quality yet affordable homes for working-class families in the town, providing an excellent standard of living.
Region Economic Details
- City Colorado Springs
- State Colorado
- Country 🇺🇸 United States of America
- Growth Rate Future job growth over the next ten years is predicted to be 48.4%, which is higher than the US average of 33.5%
- Economic Drivers Military, defense, aerospace, software/ IT, and tourism industries, including four US military bases: Fort Carson, The US Air Force Academy, Peterson Air Force Base (AFB), Schriever AFB, as well as the North American Air Defense Command (NORAD)
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These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Although forward-looking statements contained on this website are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. You are cautioned not to place undue reliance on forward-looking statements.
Definitions for Promissory Note:
Alta Finance Inc. who will assign to Alta Development x Templeton Gap LLC ("Offering Sponsoring Entity", "Borrower")
1280 S 800 E, Suite 200, Orem, UT 84097 (Utah County) ("Address for Notice Purposes")
View our full legal disclaimers here.