Working to Secure a Letter of Intent

In Q1 2025, we addressed final permitting comments. Last quarter the city approved our permit. We pivoted on last year's sales contract. We are now working to secure a Letter of Intent from a homebuilder. Once received, we will finalize the Phase 2 sale.

July 16, 2025
Adam Whitmire

In Q1 2025, we received and addressed an additional round of comments regarding permitting approval.

Last quarter, our permit was approved by the city. Additionally, we pivoted on the sales contract we received last year.

We are currently working to secure a letter of intent from a homebuilder. Once received, we will proceed with finalizing the sale of Phase 2.

More Projects Update

Water & Electrical Utilities Installed

Filip Bondas
May 29, 2026

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.

Received CO on 9 Units

Filip Bondas
May 28, 2026

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 New Luxury Rentals Live

Filip Bondas
May 27, 2026

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.