InVictus Development

About InVictus Development

InVictus Development is a real estate operator headquartered in Tampa, FL. InVictus Development operates in Montgomery, Alabama, Orlando, Florida and Tampa - St. Petersburg, Florida. Its investment focus is on Affordable Housing, Historic Tax Credits and Multifamily - Ground-up.

InVictus Development, LLC is a full‑service multifamily housing development firm headquartered in Tampa, Florida, founded in 2015 by Paula Rhodes and Rick Cavalieri. The founders carry a combined 40 years of experience in affordable housing development across the Southeast U.S. The firm focuses on affordable, workforce and mixed‑income multifamily housing, as well as historic renovation and commercial projects. It operates as a certified Woman‑Owned Business Enterprise (WBE) under Florida state certification. InVictus has completed or is developing a range of projects. For example, “Parramore Oaks Phase Two” in Orlando comprises 91 units—11 one‑bedroom, 58 two‑bedroom and 22 three‑bedroom—completed in May 2025 and immediately occupied. Combined with Phase One, the firm has delivered 211 units in that neighborhood.

Principals at InVictus Development

Recent activity at InVictus Development

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InVictus Development's project portfolio

No projects on file for InVictus Development yet.

Markets and themes

Markets InVictus Development operates in

• Montgomery, Alabama
• Orlando, Florida
• Tampa - St. Petersburg, Florida

Investment themes at InVictus Development

• Affordable Housing
• Historic Tax Credits
• Multifamily - Ground-up
• Multifamily - Value-Add
• Workforce Housing

Capabilities

• Construction Management
• Economic Development
• Mixed Use
• Public-private partnerships
• Site Development
• Sustainability
• Transit-oriented development
• Urban infill

Operators similar to InVictus Development

• The Bainbridge Companies
  Emerging tierTampa - St. Petersburg, FloridaOrlando, FloridaMultifamily - Ground-upWorkforce Housing+1 more theme
• Edgemere Development
  Emerging tierHistoric Tax CreditsAffordable Housing+3 more themes
• Overland Property Group
  Emerging tierHistoric Tax CreditsAffordable Housing+3 more themes
• Walnut Hills Redevelopment Foundation
  Emerging tierHistoric Tax CreditsAffordable Housing+3 more themes
• Columbia Ventures
  Emerging tierAffordable HousingMultifamily - Ground-up+2 more themes
• Headwaters Group
  Emerging tierAffordable HousingMultifamily - Ground-up+2 more themes
• Oak Realty Group, Inc.
  Emerging tierOrlando, FloridaMultifamily - Ground-upWorkforce Housing+1 more theme
• Palermo Realty & Development
  Emerging tierAffordable HousingMultifamily - Ground-up+2 more themes
• Impact Development Group
  Emerging tierAffordable HousingMultifamily - Ground-up+2 more themes
• Pivotal Housing Partners
  Emerging tierAffordable HousingMultifamily - Ground-up+2 more themes

Frequently asked questions about InVictus Development

What does InVictus Development do?

InVictus Development, LLC is a full‑service multifamily housing development firm headquartered in Tampa, Florida, founded in 2015 by Paula Rhodes and Rick Cavalieri.

Where is InVictus Development based?

InVictus Development is headquartered in Tampa, FL.

What markets does InVictus Development operate in?

InVictus Development is active in Montgomery, Alabama, Orlando, Florida, and Tampa - St. Petersburg, Florida.

How many employees does InVictus Development have?

InVictus Development has 2–10 employees.