Eagles Flock
Leaf River Riverfront · De-Risked Development Platform
Flood-Resilient · Hydraulically Validated · Phased Value Creation
The Site
31 acres on the Leaf River in east Hattiesburg, Mississippi. Three parcels with direct river frontage. Direct connection to the Pinebelt Blueways — 52.3 miles of designated paddling trail on the Leaf and Bouie rivers.
| Item | Detail |
|---|---|
| Location | River Avenue at the Leaf River, East Hattiesburg |
| Size | ~31 acres, three parcels |
| Flood Zone | Zone AE and Floodway |
| Metro Population | 157,000 |
| Major Employers | Forrest Health System, USM, Camp Shelby, William Carey |
Landings Above and Below
Eagles Flock sits in the upper reach of the 9.6-mile Middle Leaf route, a short paddle from Chain Park with a longer stretch downstream to Sims Road.
| Landing | Direction | Distance | Status |
|---|---|---|---|
| Chain Park at Twin Forks | Upstream | ~1.5 river miles | 37-acre park, concrete ramp, 69 parking spaces. Completed 2007-2014. |
| Eagles Flock | Upper Reach | — | 31-acre riverfront site, direct water access. Marina concept part of larger development plan. |
| Sims Road Boat Ramp | Downstream | ~8 river miles | Reopened November 2025. Concrete ramp, ADA access, gated security. |
Financial Scenarios
Four paths, same site. All figures from proforma models generated 2026-04-01.
Build the EF Premium Home-Restaurant on the north parcel under A-1 zoning, and plat 9 large arpent estate lots on the southern parcel simultaneously. Two parallel tracks, no rezoning, no city partnership required.
| Metric | Value |
|---|---|
| Total Development Cost | $417,000 |
| Net Profit | $2,080,000 |
| Peak Exposure | $101,000 |
| Equity Multiple | 20.5× |
| Breakeven | Month 11 |
How it works: Land already purchased ($30K sunk). Soft costs $47K (survey, plat, permits). Horizontal $24K (access/site prep). Vertical $315K for the home — funded by construction loan at 8% IO, so owner equity is $101K total. 9 arpent lots at $225K each + home at $625K = $2.65M gross. Construction loan cleared at home sale, all 9 lots sold by month 11 at 2/month absorption.
| Cost Item | Amount |
|---|---|
| Land (both parcels — already purchased) | $30,000 |
| Soft costs (survey, plat, permits, arch) | $47,000 |
| Horizontal (access road, site prep) | $24,000 |
| Vertical — EF Premium Home, SIP on piers, 90-day build | $315,000 |
| Total Development Cost | $417,000 |
Construction loan ($315K at 8% IO) funds the vertical. Owner out-of-pocket = $101K. Personal guarantee on construction note.
Plat and sell 10 large arpent estate lots on both parcels. No vertical construction. Each lot buyer handles their own No-Rise certification and building permit. Lowest capital at risk, highest equity multiple.
| Metric | Value |
|---|---|
| Total Development Cost | $99,000 |
| Net Profit | $2,181,000 |
| Peak Exposure | $99,000 |
| Equity Multiple | 22.1× |
| Breakeven | Month 11 |
How it works: $28K land already purchased. $26K soft costs covers survey, plat, and permits. $45K horizontal for access improvements. 10 lots at $225K–$250K each = $2.32M gross. No construction loan, no construction risk. All 10 lots close by month 11 at 2/month absorption.
| Cost Item | Amount |
|---|---|
| Land (already purchased) | $28,000 |
| Soft costs (survey, plat, permits) | $26,000 |
| Horizontal (access road, site prep) | $45,000 |
| Vertical | $0 |
| Total Development Cost | $99,000 |
All owner equity — no construction loan, no personal guarantee on vertical.
Build a single EF Premium Home-Restaurant on the north parcel (PPIN 26700, ±1.93 AC) under A-1 zoning with a conditional use permit. SIP on piers, 10 ft above grade, 90-day build. No subdivision required.
| Metric | Value |
|---|---|
| Total Development Cost | $382,000 |
| Net Profit | $193,000 |
| Peak Exposure | $66,000 |
| Equity Multiple | 2.9× |
| Breakeven | Month 6 |
How it works: Land $30K · Soft $36K (architecture, no-rise cert, survey, permits) = $66K owner equity. Construction loan $315K at 8% IO funds the vertical — bank risk, not owner risk. Home sells at $625K. Loan clears at closing. Net $193K on $66K out-of-pocket. Home designed for later restaurant conversion if additional rights are obtained — owners retain optionality on the larger vision.
| Cost Item | Amount |
|---|---|
| Land (north parcel — already purchased) | $30,000 |
| Soft costs (arch, cert, survey, permits) | $36,000 |
| Vertical — EF Premium Home, SIP on piers | $315,000 |
| Total Development Cost | $382,000 |
Owner equity $66K. Construction loan $315K at 8% IO, 24-month term. Personal guarantee on construction note.
103-unit mixed-use community — homes, 15-slip marina, waterfront restaurant and retail, 6-acre public park. Requires PMU rezoning and city participation in infrastructure funding (TIF). A pre-development meeting with the City is the gate. If the city signals meaningful participation, the project proceeds. If not, S17 or S19 move independently.
| S16 Metric | Value |
|---|---|
| Total Development Cost | $23,595,000 |
| Units (for-sale) | 103 |
| Combined Net Profit | $10,004,000 |
| Peak Developer Exposure | $4,348,000 |
| Developer IRR | 35% |
| City TIF Offset (infrastructure) | $5,784,000 |
| Commercial NOI (stabilized) | $266,000 / yr |
| Commercial Exit Value (6.5% cap) | $4,348,000 |
| Retained Commercial Asset | Annual NOI | Value (8% cap) |
|---|---|---|
| Restaurant (3,000 SF NNN) | $45,000 | $562,500 |
| 2 Shops (1,500 SF NNN) | $18,000 | $225,000 |
| 15 Marina slips | $30,600 | $382,500 |
| Kayak concession + ramp | $20,000 | — |
| Less: operating expenses | ($32,000) | — |
| Total Retained | $102,000 | $1,275,000 |
S16 IRR and TIF offset assume city participation. Do not treat as standalone returns without TIF commitment in place.
Hydraulically Validated Density
Preliminary HEC-RAS hydraulic analysis complete. 17 cross sections modeled across the site. 15 of 17 show zero rise in flood levels. The remaining two are in the park area, approximately 0.1 ft above threshold, with layout flexibility to resolve. No-rise certification process ongoing — timeline subject to final design and permit review. The elevated pier design allows flood conveyance to pass through the structure footprint — no fill, no slab on grade, no retaining structures.
| Item | Status |
|---|---|
| HEC-RAS modeling | Preliminary analysis complete |
| No-rise strategy | Confirmed (preliminary) |
| Cross sections modeled | 17 |
| Passing at 0.00 ft rise | 15 of 17 |
| Remaining sections | 2 — park area, ~0.1 ft, layout adjustable |
| Elevated pier design | Piers allow flood conveyance through structure footprint |
| Final certification | In process — timeline depends on final design and permit review |
| Hydraulic analysis | Jill S. Butler, P.E., CFM — River Science, LLC (preliminary analysis completed) |
The Vision
Eagles Flock is a 31-acre riverfront site on the Leaf River in east Hattiesburg. The site supports two execution paths, each available without the other.
The near-term preferred path requires no rezoning and no city partnership: build a single elevated home-restaurant on the north parcel under A-1 zoning, then plat and sell 9–10 large arpent estate lots on the southern parcel. These two moves generate meaningful near-term return on minimal capital outlay.
The contingent larger concept — 103 homes, a 15-slip marina, a 6-acre riverfront park, and an amphitheater — becomes available if the City of Hattiesburg shows meaningful willingness to participate in public infrastructure funding through TIF or similar mechanisms. A pre-development meeting is the gate for that determination. Until then, the near-term path moves independently.
Contingent — Larger Concept
103-home mixed-use community with marina, park, and commercial — requires city TIF participation. The larger concept gives the city something worth supporting. A riverfront mixed-use community with public parkland, a marina, workforce housing, and 103 homes on the Leaf River is a different conversation than a subdivision request.
The Product
Near-term execution centers on two product types: a single elevated home-restaurant on the north parcel, and large arpent estate lots on the southern parcel. The full residential mix is part of the contingent larger concept.
Near-Term — Preferred Path Products
| Product | Size | Price | Path |
|---|---|---|---|
| EF Premium Home-Restaurant | 1,720 SF | $625,000 | S13 — North parcel, A-1 CUP |
| Arpent Estate Lots (×9–10) | ±3 AC each | $225,000–$250,000 | S17/S19 — Southern parcel, A-1 subdivision |
The EF Premium Home-Restaurant is a 1,720 SF elevated SIP structure on timber piers, 10 ft above grade. Designed to function as an owner-occupied home now, with a later-stage conversion to restaurant use if additional zoning rights are obtained. SIP panel construction: R-40+ insulation, ~50% utility savings vs conventional, 90-day build estimate.
Arpent lots are large estate parcels — each buyer builds their own home, handles their own No-Rise certification and permit. Seller's exposure ends at platting and access improvement.
Contingent — Full Residential Mix (S16)
If the city-supported path proceeds, the full residential program expands to 103 units across four product types.
| Product | Units | Size | Price Range |
|---|---|---|---|
| Standard Homes | 66 | 1,200 SF | $200,000 – $225,000 |
| Mid-Range Homes | 15 | 1,400–1,600 SF | $250,000 – $285,000 |
| Premium Homes | 15 | 1,600–1,800 SF | $325,000 – $375,000 |
| Marina Townhomes | 8 | 1,200 SF | $300,000 |
Full residential program requires PMU rezoning and city infrastructure participation. Contingent on pre-development meeting outcome.
Execution Sequence
Step 1 — Build the House
Step 2 — Arpent Lots
Contingent — Mixed-Use
Steps 1 and 2 can proceed in parallel. Neither requires city partnership beyond ordinary permitting and subdivision review. The contingent mixed-use concept activates only if the pre-development meeting produces a credible city signal on infrastructure funding. If the city declines, Steps 1 and 2 stand alone.
Mississippi new home construction runs $110–$180/SF. National average $154/SF. The EF Premium Home prices at ~$363/SF — a premium consistent with riverfront location, elevated design, and SIP construction. Construction cost basis: ~$185/SF (SIP panels, piers, direct procurement).
The River Corridor
125 miles of America's last wild river — starting at the front door.
The Leaf-Pascagoula system runs 125 miles from Hattiesburg to the Gulf of Mexico. Last major undammed, unchannelized, unleveed river system in the contiguous United States. 37,000 acres of Pascagoula River WMA and 600,000 acres of public lands flank the basin. 327 documented bird species. Gulf sturgeon spawning habitat.
Eagles Flock sits at mile zero. The site provides a permanent riverfront access point on the full 125-mile corridor. In the larger development concept, a marina at this location would serve as a launch point for research vessels, paddlers, and commercial outfitters accessing the full basin.
University Research Platform
Field station partnership with university researchers who need river access, vessel infrastructure, and overnight facilities. Target partners: USM Gulf Coast Research Lab, USM Migratory Bird Research Group, Mississippi State forestry programs, MDWFP Wildlife Division, NOAA Fisheries.
Experience Revenue
Paying guests (birding clubs, field biology courses, nature photographers, corporate retreats) participate in actual data collection. Small groups (8-12) on a pontoon research vessel with professional optics and expert guides. Three-station network along the 125-mile corridor with glamping infrastructure.
Explore More
Full development detail on the main site.