168-Unit LIHTC / PBV Affordable Land Offering

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.