MilestoneJul 3, 2026
Grocer-café anchor lease signed
The neighborhood grocer-café anchor executed its lease, bringing pre-leased retail to six of eight spaces ahead of construction start.
All opportunities
OpenMixed-Use Development Orlando, Florida
Orlando Circle District
A neighborhood-scale mixed-use district with a $2,500 minimum so more members can participate.
Sponsored by Circle Community Development 268 members participatingLast updated Jul 3, 2026
Overview
Executive Summary
Orlando Circle District Phase I anchors a city-supported neighborhood revitalization in the Packing District corridor: 84 apartments above 18,000 sq ft of curated local retail, a public plaza, and shared community space. The $2,500 minimum is deliberate — this project is structured so a broad base of members can own a piece of neighborhood-scale development.
Project Description
Two four-story buildings frame a public plaza programmed with markets and events. Residential units target workforce-plus rents; retail spaces are pre-leased to a grocer-café, a fitness studio, and four local merchants, with the city contributing streetscape and utility upgrades under a development agreement.
Market Opportunity
The Packing District corridor has attracted over $500M of announced public and private investment. Residential vacancy within one mile is under 4%, and the corridor's retail demand study shows unmet neighborhood-goods spending of $31M annually.
Investment Thesis
Community-anchored projects with public-sector participation carry lower basis and strong political tailwinds. Pre-leased retail and sub-4% residential vacancy de-risk lease-up, while the low minimum builds a large, engaged local member base — 268 members and counting.
Current Status
Entitlements complete and the city development agreement is executed. Offering is 60% committed with construction start targeted for Q1 2027.
Investment Highlights
$2,500 minimum
Deliberately accessible so more members can participate in neighborhood development.
City partnership
Executed development agreement includes public streetscape and utility contributions worth ~9% of basis.
Retail pre-leased
Six of eight retail spaces under signed letters of intent, anchored by a grocer-café.
Corridor momentum
Over $500M of announced investment surrounds the Packing District corridor.
Early capital return path
A stabilization refinance targets returning 40–50% of member capital in year 3.
Deep local demand
Residential vacancy within one mile is under 4%.
Investment Terms
- Offering entity
- Circle District Phase I LLC
- Investment type
- Common Equity
- Security type
- Class B Membership Units
- Minimum investment
- $2,500
- Maximum investment
- $105,000
- Target raise
- $2,100,000
- Maximum raise
- $2,400,000
- Price per unit
- $500
- Target annual return
- 12.8%
- Preferred return
- 7%
- Profit split
- 72 / 28 above preferred
- Target hold period
- 6 years
- Distribution frequency
- Quarterly
- Offering deadline
- Oct 15, 2026
- Accreditation
- Open to all approved members
Financials
Sponsor projections — explore how the numbers move under different scenarios.
The sponsor's underwritten projection. All figures are sponsor projections.
Projected Revenue vs. Expenses
Projected Investor Distributions
| Five-Year Forecast | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|
| Revenue | $2,350,000 | $2,585,000 | $2,843,500 | $3,127,850 | $3,440,635 |
| Expenses | $1,034,000 | $1,137,400 | $1,251,140 | $1,376,254 | $1,513,879 |
| Operating Income | $1,316,000 | $1,447,600 | $1,592,360 | $1,751,596 | $1,926,756 |
| Cash Flow | $1,131,760 | $1,244,936 | $1,369,430 | $1,506,373 | $1,657,010 |
| Distributions | $769,597 | $846,556 | $931,212 | $1,024,334 | $1,126,767 |
Capital Stack
Total capitalization $7,800,000
Senior Debt$4.7M · 60%
Member Equity (The Circle)$2.1M · 27%
Sponsor Co-Investment$1.0M · 13%
Est. stabilized value
$9.8M
Projected exit value
$10.9M
Sources & Uses
Sources
- Construction Loan (60% LTC)$4.7M
- Member Equity (this offering)$2.1M
- Sponsor Co-Investment$1.0M
- Total$7.8M
Uses
- Land & Site Work$1.4M
- Vertical Construction$4.9M
- Retail Tenant Improvements$540K
- Soft Costs & Financing$610K
- Reserves$340K
- Total$7.8M
Model your investment
Your investment$5,000
$2,500 min10 units @ $500$105,000 max
Per quarterly payment
$69
Projected annual income
$275
Income over 6 yrs
$1,650
Projected value, yr 6
$10,300 · 2.06x
Portfolio fit: Real Estate would move from 47% to 48% of your committed portfolio with this investment.
Illustrative projection compounding the base scenario of the sponsor's target return over the full hold. Estimates only — never a guarantee.
Invest $5,000Business Plan
Business Model
Blended income from residential rents and neighborhood retail leases, with the city's infrastructure contribution reducing project basis roughly 9% versus comparable private-only developments.
Use of Funds
Vertical construction of both buildings, plaza and streetscape completion, retail tenant improvements, and lease-up reserves alongside a 60% loan-to-cost construction facility.
Potential Exit Strategy
Refinance at stabilization in year 3 (returning a projected 40–50% of member capital) followed by sale in year 5–6, or an extended community-hold structure if members vote to retain the asset.
Sponsor
Circle Community Development leads neighborhood-scale, mixed-use projects that combine residential, retail, and community space in growing Central Florida corridors. Projects are structured with lower minimums so more members can participate in community-anchored development.
16
Years experience
8
Completed projects
3
Current projects
$118M
Total project value
Team
- AW
Andre Whitmore · President
Led $300M+ of public-private neighborhood development programs.
- MD
Maria Delgado · VP of Development
Entitlements and construction lead across eight completed districts.
Previous projects
Parramore Commons
Delivered 2021 · retail 100% leased at opening
Lake Nona East Village
Delivered 2019 · residential leased ahead of plan
Track record provided by the sponsor. Past performance does not predict future results.
Documents
The complete document room for this offering.
Project Timeline
May 10, 2026
Opportunity Announced
Opportunity introduced to The Circle with preliminary materials.
May 24, 2026
Member Preview Opened
Full data room, financial model, and sponsor Q&A opened to members.
Jun 8, 2026
Offering Opened
Commitments accepted from approved members.
Oct 15, 2026
Target Funding DateCurrent
Offering expected to reach its target raise.
Jan 15, 2027
Construction Start
Capital deployed and the project moves into execution.
Apr 30, 2028
Residential Delivery
Key operating milestone on the path to stabilized performance.
Sep 30, 2028
Projected First Distribution
First member distribution expected, subject to performance.
2031-2032
Projected Exit Window
Targeted period for sale, refinance, or other liquidity event.
Updates
OperationsJun 10, 2026
City streetscape work begins
The city broke ground on corridor streetscape improvements committed under the development agreement — visible momentum for the district.
Risks
Private investments involve substantial risk, including illiquidity and possible loss of the entire amount invested. Read every factor below before committing. Projected returns are estimates only and are not guaranteed.
Market Risk
Economic conditions, interest rates, and local market dynamics may change and could reduce revenue, valuations, or the pace of lease-up and sales relative to projections.
Liquidity Risk
This is a private investment with no public market. Members should expect to hold their investment for the full target hold period; early liquidity is not guaranteed and may not be available at all.
Loss of Capital
Private investments involve substantial risk, including the possible loss of the entire amount invested. Members should only commit capital they can afford to lose.
Projection Risk
All financial projections shown are illustrative demonstration estimates prepared by the sponsor. Actual results will differ, and the difference may be material.
Construction Risk
Construction projects are subject to cost overruns, material and labor price inflation, weather delays, and contractor performance issues that can extend timelines and reduce returns.
Financing Risk
The project's senior loan carries market terms. Changes in rates or credit availability at refinance could affect cash flow available for member distributions.
Public Partnership Risk
The development agreement obligates city infrastructure contributions on a schedule. Municipal delays would extend the timeline, though the agreement includes remedy provisions.
Sponsor & Execution Risk
Performance depends heavily on the sponsor's ability to execute the business plan, retain key personnel, and manage costs. Departure of key team members could adversely affect results.
Regulatory Risk
Changes in zoning, licensing, tax, or securities regulation could affect the project's operations, timeline, or member distributions.
Economic Risk
Recession, inflation, labor shortages, or credit-market disruption could increase costs or reduce demand beyond what the sponsor has underwritten.
Exit Risk
The projected exit depends on market conditions at the time of sale or refinance. A delayed or lower-value exit would extend the hold period and reduce returns.
Questions
Frequently asked
Ask the sponsor
Questions and sponsor answers are visible to all members reviewing this offering.
Prefer a conversation?
Book a 15-minute call with the sponsor team about this offering.
Sponsor presentations and group Q&As are listed on the member events calendar.
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