PEG Cos. acquires 40-acre site for large SFR development near Boise

PEG Cos. has closed on a fully entitled 40-acre parcel of land for the development of 419 build-for-rent (BFR) residences, located in Caldwell, Idaho, through PEG Capital Partners Fund IV Build for Rent (PEG Fund IV).

Located at 4107 Laster Lane, the property is a 20-minute commute to downtown Boise.

The $150 million project, which will roll out in multiple phases over the next three years, will consist of one-, two- and three-bedroom patio homes and duet townhomes, bringing a much-needed housing alternative to renters in the area. Garnering strong support from the City of Caldwell, the project in September received the final approvals necessary for the annexation of the land into the city and the land-use allowances necessary to accommodate the project.

“Data shows today’s renters are looking for larger living areas with outdoor space and are increasingly electing to move out of dense multifamily communities, which is why a BFR product like these appeals to