BYU-Idaho, a private university projected a shortage of housing for their students following a pattern of aggressive growth and was looking for a private developer to build housing. The challenge was to find sufficient property to build a complex that would house 288 students for delivery January 2018.
Westland purchased 5 houses and a vacant lot, rezoned the property, assembled a construction team, and oversaw the development of the property.
The construction loan for phase 1 was funded December of 2016 and the property we 70% leased when the fall semester (September) 2017. Phase 2 was completed with a 68% occupancy for the Winter (January) semester of 2018 putting the construction time for each phase under a year. In addition to being ahead of schedule, the project was completed under budget.