6725 S Rainbow Point, Homosassa, FL 34446

This 19.3± acre development tract is strategically positioned within the Cardinal Mixed-Use Interchange Management Area (IMA), just east of the recently expanded Suncoast Parkway (SR 589) interchange in Citrus County, Florida. Situated along one of the primary northward growth corridors extending from the Tampa–St. Petersburg MSA, the property benefits from interchange-level access and sustained public infrastructure investment. The site falls within the designated Mixed-Use Development area, allowing residential densities ranging from 6 to 20 dwelling units per acre subject to Master Planned Development (MPD) approval. Based on approximately 18± acres within the mixed-use designation, the property presents a theoretical development yield ranging from approximately 119 units at 6 dwelling units per acre to as many as 386 units at 20 dwelling units per acre. This density flexibility supports a variety of development concepts including multifamily, build-to-rent communities, townhomes, or integrated mixed-use residential projects. A jurisdictional pressure sewer system is located within approximately 2,000 feet of the property boundary, and a 12-inch water main is available for direct connection. Citrus County remains one of Florida’s strongest emerging growth markets, with a current population of approximately 153,600 residents projected to exceed 350,000 by 2030 according to County planning estimates. The completed parkway expansion and planned northern Phase 3 extension will provide direct one-hour connectivity to Tampa International Airport and surrounding employment centers. Within a 15-minute trade area, the site serves approximately 46,361 residents with stable demographics, including an average age of 58 and a median household income of approximately $65,000. The subject property is located within the Cardinal Interchange Management Area (IMA) and is governed by the County’s Mixed-Use Development standards, which are specifically designed to promote compact, integrated, and infrastructure-supported growth around interchange nodes. All mixed-use developments must contain at least two land uses, one of which must be residential. Permitted residential types include single-family detached, townhouses (attached), duplexes and triplexes, and multifamily apartments. Density is permitted at a minimum of 6 dwelling units per acre and a maximum of 20 dwelling units per acre.