Development Diligence
Entitlement path, tree-aware planning, municipal fees, market survey, and next-step checklist.
Package updated Jun 16, 2026 11:25 PM ET - PDF cover
Development Site | Brooksville, Florida
168-Unit LIHTC / PBV Affordable Housing Development Site
14.4-acre land offering in Hernando County, positioned for a 4% LIHTC, tax-exempt bond, FHFC SAIL, and Project-Based Voucher execution.
$4,000,000
Offering Memorandum Available
MarketBrooksville, FL | Tampa MSA
Site Area14.4 Acres
Concept168 Affordable Units
ZoningPD, Amendment Underway
CategoryLand / Multifamily Development
Opportunity Overview
A rare, fully-underwritten affordable housing development site in Brooksville, Florida, within the Tampa-St. Petersburg-Clearwater MSA.
The 14.4-acre parcel is owned free and clear and is offered for sale at $4,000,000 to affordable housing developers and principals. Current PD zoning permits development of up to 216 multifamily units; however, the due-diligence package recommends an optimized 168-unit Low-Income Housing Tax Credit community based on the following assumptions:
- Tree-aware site plan and 75 / 51 / 42 one-, two-, and three-bedroom unit mix.
- 4% LIHTC and tax-exempt bond execution with FHFC SAIL, ELI, and NHTF soft funding.
- Project-Based Voucher strategy for approximately 42 units, or 25% of the community.
- Verified Brooksville water and wastewater connection fees and City-confirmed tree-mitigation treatment.
- June 2026 rent evidence, market-rent constraints, and RENCO composite-block construction cost benchmarking.
The site is positioned for a 4% LIHTC and tax-exempt bond execution, paired with a Florida Housing Finance Corporation SAIL gap loan and a Project-Based Voucher strategy. Under IRC Section 42(g)(2)(E), Section 8 project-based vouchers may allow qualifying units to collect HUD contract rents above standard LIHTC rent limits, supporting a stronger capital stack in a market where conventional rents alone do not carry the debt.
Most early development work is already complete. Available diligence includes a verified tree survey and mitigation analysis, confirmed municipal water and sewer connection fees, a June 2026 market rent survey, a coordinate-level tree-aware site plan, an optimized unit mix, and a financial model comparing Conventional, LIHTC, HUD, and Hybrid 4% plus PBV structures.
Investment Highlights
Broker owner14.4-acre affordable housing development site offered at $4.0M.
168-unit planOptimized LIHTC multifamily program in the Tampa MSA growth corridor.
Documented financing path4% LIHTC, tax-exempt bonds, FHFC SAIL, ELI, and NHTF sources.
PBV strategyProject-Based Voucher structure supports contract rents above LIHTC limits where permitted.
216-unit zoning / 168-unit planCurrent PD zoning permits up to 216 units; diligence recommends a 168-unit tree-aware LIHTC/PBV program.
Diligence packageTree survey, municipal fee review, market rent study, and four-way financing model.
RENCO construction optionComposite-block construction alternative evaluated for Florida multifamily use.
Fall 2026 timingAligned for anticipated FHFC SAIL application cycle around September 2026.
Package Preview
The full development plan, entitlement status, market study, construction analysis, and financing structure are detailed in the Offering Memorandum linked from the package preview images below.
Financial Model Exhibits
Scenario comparison for Conventional, LIHTC/FHFC, HUD/PBV, and hybrid 4% plus PBV structures.
Model updated Jun 16, 2026 11:26 PM ET - PDF p.25
This listing is a summary of a real property offering for informational purposes only. It does not constitute an offer to sell or the solicitation of an offer to buy any security. All development, financing, and feasibility figures are planning-level, illustrative, and subject to diligence, Florida Housing program rules, the governing RFA, and definitive documentation. Refer to the linked Offering Memorandum for complete information.
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