DLP Capital Funds $14.75 Million Loan for Darby III Development
DLP Capital is pleased to announce the successful origination of a $14,750,000 new construction revolving loan to Corner Lot, a premier real estate development firm. This loan will support the horizontal development of the third phase of a larger planned development and provide a revolving facility for the construction of a 142 single-family community in northwest Jacksonville, FL.
This loan to Corner Lot represents DLP Capital’s continued commitment towards backing experienced, mission-aligned sponsors who bring Thriving Communities to life in high-demand markets.
A new development in northwest Jacksonville
Situated roughly 12 miles northwest of Jacksonville, Darby III represents one of four phases within the broader Darby / Kings Preserve development—master-planned to include 742 detached single-family homes. This phase of construction will deliver 142 single-family residences atop a 87.37-acre parcel of vacant land.
Once the entitlement process is complete, Corner Lot plans to build single-family homes across six distinct floor plans. The residences will range from 1,461 to 2,066 square feet, with an average footprint of 1,744 square feet.
The project’s location, which places it well within commuting distance to Jacksonville, positions it to capture strong regional demand for attainable housing. Jacksonville has consistently ranked among the top ten major U.S. markets for population growth, fueled by corporate relocations, expanding logistics and healthcare sectors, and an attractive cost of living compared to other major Florida cities.1
While the broader real estate market has transitioned to a more balanced, buyer-friendly environment in 2026,2 Jacksonville’s steady net migration and job creation continue to drive reliable demand for new, high-quality residential communities like Darby III.
According to Census data, Jacksonville’s population exceeded 1 million for the first time in 2024, having grown a cumulative 6.3% between 2020 and 2024.3 Ranked third in the nation for economic growth and second in the country for job prospects,4 the city could be poised for further growth over the next 10 years.
Conservative new construction financing
DLP Lending Fund’s $14,750,000 new construction revolver provides Corner Lot with the capital needed to advance the Darby III project. The loan was originated in December 2025 and features an initial 36-month term with two six-month extension options.
DLP sees this as an exceptional opportunity to prudently deploy capital at conservative leverage (LTV) levels to a sponsor with a consistent track record of performance with this asset type.
Corner Lot: A leading developer in northeast Florida
Corner Lot is an independent, privately-owned real estate development firm headquartered in Jacksonville. Established by co-founder and Chief Executive Officer Andy Allen in 2009, the firm has grown into a market leader with an expansive portfolio covering single-family, multifamily, urban, commercial, and hospitality projects.
Having developed thousands of lots for national homebuilders across a real estate portfolio valued at over $1 billion, Corner Lot brings unparalleled local expertise to the table. That experience, paired with a shared commitment to thoughtful design, quality living, and community progress, aligns strongly with DLP Capital’s mission to address America’s affordable housing crisis by financing the building of Thriving Communities.