US Funds

PHC Land Development Fund
Excavator Banner

US HOUSING CRISIS

Source: U.S. Census Bureau New Residential Construction reports & Current Population Survey.

HOUSING STARTS OVER TIME (2000-2023)

  • This graph tracks new single-family home
    construction, showing a post-2008 decline
    and slow recovery failing to meet demand.
  • Household formations have consistently
    outpaced housing completions, creating a
    cumulative single-family home deficit (gray
    shaded area).

PEAK SUPPLY (2006):

2.2M Completions

LOWEST SUPPLY (2011):

0.53M Completions

ANNUAL HOUSEHOLD FORMATIONS:

1.5-1.9M

RECENT (2022-2023):

1.1–1.2M Starts

WHAT IS LAND
ENTITLEMENT

  • 1

    LAND ENTITLEMENT ORIGINATION

    We work with home builders to identify specific sites suitable for land developments. Our
    team negotiates the post-entitlement land price and secures options on the land.

  • 2

    SITE ASSESSMENT AND DUE DILIGENCE

    Comprehensive reviews include topographic surveys, wetland delineations, traffic and fiscal
    impact studies, and zoning checks to ensure alignment with legal and investment goals.

  • 3

    SECURING ENTITLEMENTS AND ZONING ADJUSTMENTS

    Collaborate with communities and authorities to secure entitlements like rezoning
    and infrastructure planning.

  • 4

    DEVELOPMENT DESIGN AND ENGINEERING

    Create detailed plans for water, parking, lighting, and landscaping, adhering to all regulatory
    requirements.

  • 5

    FINALIZING SHOVEL-READY PROJECTS

    Obtain all permits and entitlements. The site is now “shovel-ready,” minimizing risk and
    ensuring developers can begin construction.

  • 6

    DEVELOPMENT DESIGN AND ENGINEERING

    Create detailed plans for water, parking, lighting, and landscaping, adhering to all regulatory
    requirements.

  • 7

    SALE TO DEVELOPERS AND BUILDERS

    Sell the entitled land to developers at a pre-negotiated price, facilitating efficient progression
    to horizontal and vertical construction.

WHAT IS LAND
SERVICING?

Focus on building
essential infrastructure
like roads, utilities,
water, and sewage

  • 1

    LAND DEVELOPMENT BIDDING OPPORTUNITY

    • 1. From a national homebuilder
    • 2. Contract: Includes a Forward-Purchase Agreement for post-servicing land.
  • 2

    LAND ENTITLEMENT

    Purchase entitled land or collaborate on the entitlement process.

  • 3

    LAND SERVICING DEVELOPMENT

    Focus on building essential infrastructure like roads, utilities, water, and sewage.

  • 4

    CONSTRUCTION

    Manage construction planning and execution.

  • 5

    POST-SERVICING LAND SALE

    Sell serviced land back to the national homebuilder at the pre-negotiated price from Step 1.

OPERATOR CRITERIA

Access the highest-quality real estate investments