Best Way to Store/Invest $500k For 1 Year

[Ben Mosier]

Let's say one has an excess of $500k that is in a high yield saving account earning around 4.5-5% APR. What are some other options that would /could pay a higher return that allows for the money to be relatively available. Also without huge risk of the principal being lost? I understand that other options than a saving account come with risk. Just trying to see if there's a better place to put the money in the meantime. The money is going to be used to build 30 new unit townhomes in the next year and half. That is the timeline to start the project so I need to keep the funds to get that project going but also want to receive the best return in the meantime.