DLP Capital is pleased to announce that it has funded a $14.4 million bridge loan to support the development of a 1,795.74-acre vacant tract of land in Bucks Township, South Carolina. Zoned as a Planned Development District (PD), this property will pave the way for a new residential community that will offer 3,318 single-family and townhome lots.
In anticipation of upcoming residential construction, significant sitework is underway, with over $929,000 or 21% of the $4.3 million land development budget already spent on clearing, grading, and excavation activities.
The sponsor, BRD Land & Investment, has signed a purchase agreement with a private national homebuilder with a significant hard deposit in escrow.
DLP Capital remains committed to supporting experienced sponsors who undertake residential development projects that address the growing demand for attainable housing in high-potential markets.