TruVest Bayard Park homes project
Summary
The fund's Bayard Park investment with developer Ryan (TruVest) is at a crossroads: one completed house still awaits its certificate of occupancy, the developer expects to repay only $130,000–$140,000 of the fund's money after selling, and his modular approach raised certification and cost concerns. Members want the developer to answer questions in person next month.
At a glance
- Total mentions
- 2
- Last 30 days
- 1
Discussed at 1 meeting in the last 60 days; most recently Oct 20, 2026.
Impact analysis
The fund is owed $130,000–$140,000 on the project and faces uncertainty on roughly $250,000+ in remaining exposure.
Ideally future affordable homebuyers and the fund, if the developer repays and completes the project successfully.
Taxpayers could lose if the developer sells below projections, takes a loss, or fails to repay the fund in full.
Mentions & discussions (2)
Affordable Housing Fund Advisory Committee (AHFAC) - Oct 20, 2026
The fund's Bayard Park investment with developer Ryan (TruVest) is at a crossroads: one completed house still awaits its certificate of occupancy, the developer expects to repay only $130,000–$140,000 of the fund's money after selling, and his modular approach raised certification and cost concerns. Members want the developer to answer questions in person next month.
Affordable Housing Fund Advisory Committee (AHFAC) - Jul 14, 2026
A 2023 loan to developer TruVest for affordable homes on Bayard Park Drive has gone unpaid since December 2025, with $256,655.76 still owed. The committee gave the developer 90 days to finish the stalled house, get it certified for occupancy, and list it for sale — or face reassessment.
Related development
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