The Emory North Liberty - December 2023
Phase I Construction Updates
The construction at The Emory – North Liberty is gearing up for the winter season. All site utilities have been installed, and concrete paving is 90% complete. Road connections to Jones Blvd. and Hayes Ln. are being poured the week after Thanksgiving. Additionally, the foundations for the fishing pier have been installed.
44 Plex’s membrane roof is finished, with crews now starting to drywall areas needed for the fire code. Windows and patio doors are being installed, and wood decks are being constructed around the perimeter of the building.
52A Plex has the 1st and 2nd floors of the building framed, with crews now working on the 3rd-floor walls. 52B has the 1st-floor walls framed, with 2nd-floor trusses arriving soon. The Clubhouse is framed, with windows and membrane roofing starting. The 14-car garage, one of the 18-car garages, and the maintenance garage are now framed and have the shingle roof installed.
Investment Updates and Opportunities
The Haverkamp RE Development Fund is nearing its third and final admission period from December 2023 to March 30, 2024. This fund will continue to support efforts on The Emory – North Liberty project.
Introduced initially as a $50 million multi-project fund, the focus has shifted to a 350-unit multi-family development in North Liberty, IA. The Emory is comprised of three phases, with the first scheduled to open in July 2024. The subsequent two phases will be built over the next 3-5 years, approaching $80 million in value.
The fund projects that it will need approximately $30 million in equity to complete the entire project. This 3rd Admission Date will close on 3/30/24 and will require funding of 35% of your commitment on or before that date.
Solomon’s Landing
The Emory – North Liberty is part of an exciting new development in the rapidly growing community of North Liberty, Iowa. This development will include commercial properties such as Pizza Ranch, Bowldogs, Starbucks, Jersey Mike’s, and a recreation center – as well as several single-family lots, all surrounding an impressive 7.5-acre lake on the west side of the development.
In addition, the new University of Iowa Hospitals and Clinic’s medical campus, craft brewery, restaurants, and entertainment venue are nearby.
