Hopkinsville, Kentucky · Christian County · US-68 / KY-80 Corridor
Hopkinsville, Kentucky has a documented shortage of 3,000 single-family homes and a city government actively seeking a development partner to build them. The City has confirmed its commitment to residential development — and explicitly stated this corridor's priority is workforce housing, not commercial.
This 33.68-acre tract on the US-68/KY-80 corridor is level, flood zone X, with city water and sewer available. It is positioned to yield an estimated 202 lots in a planned unit development configuration — and the city has confirmed its willingness to deploy Kentucky's full suite of public-private partnership tools to close the infrastructure gap.
The infrastructure cost to develop 202 lots is approximately $2.16M ($650/LF × 3,325 LF, confirmed by Suiter Surveys engineering). At market land prices, this creates a margin gap. The following Kentucky P3 tools have been identified as applicable and are the subject of active discussion with the City of Hopkinsville:
KRS 65.7041–65.7083. City pledges 80% of incremental property tax revenue from 202 homes for up to 20 years. The general fund is held harmless. Covers >3× total infrastructure cost.
City or utility authority absorbs trunk-line water, sewer, and road-base costs directly. Reduces developer horizontal burden and improves per-lot margin without reducing land price.
City can acquire land at appraised value and enter a developer agreement, eliminating land carry cost and reducing upfront equity requirements for the acquiring developer.
Tennessee's Public Chapter 353 (May 2025) created IDB authority for workforce SFR. Kentucky IDB authority under KRS 154.50 is being evaluated as a parallel model — potential PILOT during the development period.
Source: Realtracs CMA, March 2026. 3-bedroom residential product, Hopkinsville, KY.
| Property / Transaction | Date | Acres | Sale Price | $/Acre | Relevance |
|---|---|---|---|---|---|
| Dollar General — Same Tract Princeton Rd / Cadiz Rd, Hopkinsville | Jul 2023 | 2.265 | $265,000 | $117,000 | Same parcel — strongest anchor |
| Allen Road Large Tract Clarksville, TN — VHS Developers | Aug 2024 | 88.89 | $9,000,000 | $101,249 | Recent large-tract regional comp |
| Subject Property — Asking Cadiz Rd, Hopkinsville, KY 42240 | 2026 | 33.68 | $3,031,200 | $90,000 | 23% below DG comp / 11% below Allen Rd |
Land at ask ($90K/ac) + $650/LF infra + $1,100/lot engineering + $182K vertical build = ~$270K+ all-in per home. At a market ceiling of $297K, margin is thin before commissions and profit requirement.
TIF covers 80% of incremental tax revenue — $7M–$7.9M over 20 years. Applied as infrastructure subsidy or PILOT equivalent, it reduces effective horizontal cost per lot by $34,653–$39,109. Project pencils with a standard 10–15% profit margin.
TIF + infrastructure cost-share + city acquisition structure. Combined incentive value can fully offset the $3.2M+ horizontal development cost. Gross revenue potential across 202 homes: $57M+ at current market pricing.
$90,000 / acre · 33.68 acres. Provided for qualified developers and their representatives. Reach out directly for the full executive package, engineering detail, and the P3 framework status.