Development Costs Reduced

Last quarter, our development manager identified cost savings and updated engineering plans. We are evaluating exit options similar to Haselton Phase 1. This highlights our ability, as fund manager and developer, to control each stage of the project.

Last quarter, our in-house development manager discovered a way to reduce development costs for this project.

We revised our engineering plans accordingly and resubmitted the land disturbance permit for approval.

We are currently evaluating exit strategies similar to Haselton Phase 1 to determine the best steps moving forward.

One thing that makes our fund unique is that, as both the fund manager and developer, we control every stage of a project—from acquisition and development to the eventual lease-up or sale.

This control allows us to adapt at any point during the development process to maximize returns for the fund.

Haselton Phase 2 lot delivery site plan outlining permitted lots and roadway design.

More Projects Update

We previously completed horizontal development on the 41-lot short phase within Phase 2, and the plat has been submitted and approved. In the remaining section of the property, water and electrical utilities are in place, with base and curb work next.
Nine units in Phase 1 are finished, with Certificates of Occupancy in hand and ready for lease-up. Five more units on Lots 58 through 62 are being brought to CO, and the building permit application for the next 18 lots has been submitted ahead of vertical construction.
Two more properties recently went live, one outside Clearwater, Florida and one lakefront in the Poconos, both five-bedroom, eight-bed homes with full amenity packages. Since acquiring 142 rentals in December 2024, the portfolio has grown to 153 units.
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