The same map. The opposite economy.
500 homes · 25.67 acres · downtown Kansas City. $46.36M total capitalization, $40M senior construction debt. 43 months. 56.0% unlevered IRR. 25.82% blended gross margin. The first project that stacks scale + vertical material supply + coherence reset + federal-stack sophistication on a single site — and the proof point that scales into the 20-metro National Housing Crisis Task Force.
The crisis map is the opportunity map.
The same neighborhoods 1936 federal redlining marked off-limits — and today's HUD QCT designations re-map — are the highest-leverage workforce-housing market in America. The federal incentives are on the books. The buyers are pre-qualified. The diligence is federally pre-done. What's missing is the first operator with the operational stack to convert designation into delivery. That's the South Vine anchor.
The same playbook, at three altitudes.
Profitable in isolation. Tax-advantaged at every layer. Exponential at the network level — because the operating system, not the factory, is the moat.
- · $50M upfront investment
- · 500 homes / year
- · $175M annual revenue
- · $30M annual gross profit
- · National network online
- · 100,000 homes / year
- · $35B annual revenue
- · $6B annual gross profits
- · Distressed-community focus
- · Qualified Opportunity Zones
- · Tax-exempt bond financing
- · LIHTC basis bonus stack
$40M senior debt. 20-metro parallel economy.
- · $40M senior construction debt funds the South Vine 500-home anchor
- · Phase 1 (50 homes / 12 months) on existing R-1.5 as-of-right zoning
- · Construction-to-perm · cross-collateralized Phase 1 + Phase 2
- · Lifetime DSCR 33.2x · Net Proceeds ÷ Peak Outstanding 5.21x
- · When KC clears, the model replicates into Cleveland, Chicago, Boston, Birmingham — the 20 metros of the National Housing Crisis Task Force