Airpark Communities

Craig Fuller and his team are building luxury residential airparks - communities built around private airstrips where homeowners can live with direct access to their aircraft. They use their magazine Flying to market and sell the development.

Key Points:

• Initial Land Purchase:

  • Bought 1500 acres, 45 minutes outside Chattanooga, Tennessee
  • Land cost around $1500/acre
  • Located in an opportunity zone for tax incentives

• Business Model:

  • Build homes around a private airstrip
  • Sell lots to aviation enthusiasts
  • Use Flying magazine to advertise to target audience
  • Pre-sell lots to finance development

• Financial Structure:

  • Collected $25M in pre-deposits from buyers
  • Used pre-deposits to secure bank financing for infrastructure
  • Phase 1 infrastructure costs estimated at $10-15M
  • Located in opportunity zone for tax advantages

• Market Validation:

  • Met 3-year pro forma goals in first 3 months of pre-sales
  • Strong demand validated through magazine content engagement
  • Project accelerated from 5-7 year timeline due to demand

• Current Status:

  • Completed regulatory requirements
  • Set to break ground within 30 days
  • Infrastructure development beginning with secured financing