Build with
Rush Creek
Creating Lasting Value for Investors by Building and Reshaping the Cities of Tomorrow
21%
Average LP IRR
485
Unit's Built
3
2025 Projects
$120m
Capital Raised
Unmatched Expertise and Execution
At Rush Creek, we create lasting value for our investors by building projects that drive growth and opportunity. Our disciplined approach—spanning capital raising, development, and strategic asset sales—enables us to navigate complex markets that create value for our investors. With a proven track record, strategic partnerships, and a data-driven strategy, we deploy capital in dynamic sectors positioned for long-term success, ensuring our investors’ capital is both protected and maximized.
$20m
Yield in 19 Months
Our last project in Maple Grove, MN went from green dirt to 98.4% occupancy yielding our investors $20,000,000 in 19 months.
The Firm
Delivering for Investors
Current Project
The Parkway Neighborhood | Dayton, MN | Spring 2025
600+ units
6 Build Phases
21%
Target IRR
Parkway Neighborhood, Dayton/Maple Grove, MN 55311, is at the southwest corner of I-94 and the recently opened Dayton Parkway exit ramp ( > 94,000 Avg, Daily Traffic) is a master planned market-rate community featuring 1, 2 & 3- Bedroom, 1-Bedroom + Den, and Studio floor plans. The building types will range from 4-story apartment complexes with over 100 units to 2-story and 3-story, 30-plexes, and individual townhomes. Parkway Neighborhood is just a few minutes' drive from “Medical Alley”, a cluster of life science companies that occupy more than 4.2 million square feet of space and from more than 5.2 million square feet of commercial retail and booming local economy. Final plat and building will be obtained in time for site construction to begin in Spring 2025.
Completed Projects
Rush Creek Apartments | Maple Grove, MN | 2022
246
Units
61%
IRR (24 Month Hold)
Rush Creek Apartments (“RCA”) is a market-rate apartment community on an 8.22-acre site in Maple Grove, MN. RCA is comprised of five residential buildings with 246 homes, 436 parking spaces (251 heated, below-grade spaces), and one clubhouse. Michael Elzufon entitled the site, designed the project, and arranged $53.50m in financing through a $35.8m construction loan and $17.7m of owner equity. RCA funding closed on October 9, 2020. Construction of RCA was completed and delivered 15 months later in December 2021. RCA was sold in July 2022 for $73,750,000. As of August 18, 2023, RCA occupancy is 98.4%.
Renew | Wichita, KS | 2017
239
Units
$18m
Federal/State Historic tax credits
Renew | Wichita is a 239-unit urban market-rate project. Rush Creek Developments designed, entitled, and underwrote the Project. Mr. Elzufon secured $66m in capital including $36m construction to perm 221(d)4) HUD loan, $12m of Tax Increment Financing, and $18m of Federal and State Historic tax credits.
Turning Vision into Lasting Value
Why Cities Turn to Rush Creek Development
At Rush Creek, we excel at delivering high-impact development projects that transform urban landscapes and drive lasting economic growth. Our proven ability to navigate complex and intricate development challenges positions us as a trusted partner for municipalities, stakeholders, and investors seeking experienced developers who have historically delivered above-average returns.
COLLABORATION
Our Industry Partners
Expertise in Complex Urban Projects
Our team thrives on addressing multifaceted urban development challenges, including adaptive reuse, public-private partnerships, and large-scale redevelopment. We bring unparalleled expertise in handling key factors such as land use optimization, parking logistics, public easements, and regulatory complexities. Our deep understanding of financing structures, such as federal funding programs and strategic investment frameworks, allows us to secure optimal funding and deliver financially sound projects that maximize returns.
A Vision for Sustainable Growth
Our approach centers on creating vibrant, sustainable spaces that elevate communities and foster long-term economic impact. We are passionate about revitalizing underutilized areas and creating walkable, connected urban environments. From evaluating site feasibility to implementing adaptive designs, we are dedicated to delivering projects that not only meet financial goals but also enhance quality of life.
Transformative Solutions for Long-Term Success
We manage the entire development process, from capital raising to project execution and strategic exits. Our portfolio reflects our ability to deliver results on time and within budget, even in the most challenging environments. By tailoring solutions to the unique demands of each project, we ensure optimal outcomes for our partners while consistently creating both immediate and long-term value.
Commitment to Collaboration and Innovation
We believe that the most successful projects result from strong collaboration. At Rush Creek, we work closely with public and private partners to align with their vision and enhance project outcomes. Our experience in blending community needs with private investment ensures that our developments create value for all stakeholders. Whether it’s designing mixed-use spaces or converting outdated structures into thriving hubs, we approach every project with creativity and precision.