CALDWELL, Idaho – PEG Companies [“PEG”] and Canyon County community members gathered to celebrate the groundbreaking of Idaho’s largest build-for-rent [“BFR”] community, Alante Homes at Spring Run. The highly anticipated project will service 419 upscale for-rent single-family homes through PEG Capital Partners Fund IV, Build for Rent, LP [“PEG Fund IV”].
“Alante Homes at Spring Run is a significant investment for PEG Fund IV,” said David Bourne, Director of Investments at PEG Capital Partners. “The groundbreaking represents measurable forward progress towards the construction of a beautiful community that will house families in comfortable homes. Caldwell recently surpassed Idaho Falls to be the fourth largest city in Idaho. The growth in the area is the result of sophisticated strategic planning at the city level, and we are fortunate to be a part of it.”
Located at 4107 Laster Lane, Alante Homes at Spring Run will roll out in multiple phases over the next three years, boasting a variety of one-, two-, and three-bedroom patio homes and duet townhomes. Garnering significant support from the City of Caldwell due to strong demand in the community for housing rental options, Alante Homes will offer residents the freedom and space that come with single-family living while checking all the boxes of a traditional multifamily product in terms of convenience and amenities.
Each Alante Homes community will feature superior finishes and premium amenities. Alante Homes at Spring Run brings many additional benefits to the community, including the continuation of Laster Lane connecting the residential neighborhoods to the west of the property with the commercial corridor to the east, a public walking trail that spans the entire eastern border of property in excess of 3,000 linear feet, and more.
Idaho’s largest build-for-rent community to date, Alante Homes at Spring Run is scheduled to deliver the first 233 homes in the spring of 2024. Upon completion, PEG Development will then turn Phase One over to PEG Property Group, the property management arm of PEG Companies, to begin leasing up those homes while the next phases move through construction.
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