Ground Up Development of 163 Home Community
Investment Info:
Other other investment.
Meadowview Village is a 163-home community designed to provide attainable homeownership through factory-built efficiency and community-first design. With ownership lots, below-median pricing, and shared amenities, it reflects Upslope’s vision for scaling attainable housing. It is a ground up development, breaking ground in March of 2026.
What made you interested in investing in this type of deal?
We focus on for-sale workforce housing because it meets real demand and provides a clear exit. Great Falls needs about 370 new for-sale homes per year and is only delivering a fraction of that. By using factory-built homes on deeded lots, we can control costs, reduce construction risk, and deliver attainable pricing. That combination supports strong absorption and consistent returns.
How did you find this deal and how did you negotiate it?
This came through direct outreach and relationship building with a local landowner. We structured the deal to align incentives and reduce upfront risk, with pricing supported by a third-party appraisal above our basis. The site is infill, flat, and will be annexed into the city, which simplified entitlement and infrastructure planning.
How did you finance this deal?
The project is financed through a combination of our own equity, investor equity, and development financing from a bank. Equity comes from accredited investors, primarily business owners, with a $100K minimum. Debt is structured to fund infrastructure and vertical development in phases, matching capital deployment with home sales.
How did you add value to the deal?
We added value through:
1. Entitlement and site design, turning raw land into 163 buildable lots
2. Cost control using factory-built homes, avoiding typical construction delays and overruns
3. Community design with amenities that support pricing and demand
4. A phased build-to-sell model that reduces absorption risk and improves cash flow timing
What was the outcome?
The project is currently in development, breaking ground in March of 2026. Based on current underwriting, investors are projected to achieve a 22%+ IRR over a 5 year period through phased home sales.
Lessons learned? Challenges?
1. Early cost validation is critical, especially for infrastructure
2. Factory-built requires tight coordination between site work and home delivery
3. Capital planning needs to stay flexible as costs and timelines evolve
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, I'd highly recommend Woith Civil Engineering if you're doing any ground up development in Montana.
