Central Florida Townhome
Development Fund I
Project Summary
Central Florida Townhome Development Fund I finances the ground-up construction of 48 townhome units across two parcels in the Orlando Metropolitan Statistical Area — one of the fastest-growing housing markets in the United States. The project is led by a Florida Certified Building Contractor (CBC1264467) with over 15 years of residential development experience in the Orlando corridor.
The units are targeted at the $295,000–$340,000 price range, addressing a significant supply gap in workforce and entry-level housing. 28 of 48 units have letters of intent from buyers, reducing pre-sale risk substantially.
Why This Market
- Orlando MSA added 68,000 net new residents in 2024 — #3 in the nation for population growth
- Active residential inventory in the $250K–$350K range sits at 0.9 months — critically undersupplied
- Florida has no state income tax, continuing to attract domestic migration from high-tax states
- The specific submarket is within 12 miles of three major employment hubs: Lake Nona Medical City, Amazon Fulfillment Centers, and Disney/Universal corridors
- Fixed-price construction contract executed — cost overrun risk is contractually limited
Use of Funds
- Land acquisition and closing costs: 28%
- Hard construction costs (fixed-price contract): 54%
- Soft costs (permits, engineering, legal): 9%
- Operating reserve and contingency: 6%
- True North platform fee: 1.5%
- Fund management fee: 1.5%
Operator Background
The fund sponsor is a Florida-licensed contractor with a proven track record of 200+ completed residential units across Central Florida. Previous projects include townhome communities in Kissimmee (2022) and Davenport (2023), both delivered on budget and ahead of schedule. Offering documents include full sponsor disclosure, license verification, and references.
Return Projections*
*All projections are forward-looking estimates based on market assumptions and are not guarantees of return. Actual results may differ materially. Investing involves risk including possible loss of principal.
Fee Schedule
- Platform fee: 1.5% annually on invested capital
- Fund management fee: 1.5% annually on invested capital
- Performance carry: 20% of profits above 8% preferred return
- Early redemption penalty: 4% (after 12-month lockup, if offered)
- No subscription or setup fees
Risk Disclosure
All real estate investments involve risk. Before investing, carefully read the full offering memorandum and risk factors document. Key risks associated with this fund include, but are not limited to:
Construction Risks
- Construction delays due to weather, permitting, or material supply chain
- Cost overruns beyond fixed-price contract coverage (subcontractor default)
- Changes in local building codes requiring design modifications
Market Risks
- Decline in Central Florida residential real estate prices during the fund term
- Rising interest rates reducing buyer purchasing power and absorption pace
- Increase in competing inventory in the same price range
- Changes in Florida homestead laws or property tax treatment
Regulatory & Liquidity Risks
- This investment is illiquid — you may not be able to exit before the fund term ends
- Mandatory 12-month holding period under Regulation CF before any redemption
- Early redemption is not guaranteed and carries a 4% penalty if offered
- SEC regulatory changes may affect offering structure
Total Loss Risk
In worst-case scenarios including sponsor default, catastrophic construction failure, or complete market collapse, investors could lose their entire invested principal. True North does not guarantee any return of capital.
Full deal documents are sent privately to anyone who reaches out about this project. The summary documents below are available to download for preview.