About Us

InVictus Development, LLC is a full service, multifamily housing development company based in Tampa, Florida.  The operations of InVictus are directed by Paula Rhodes, President, and Rick Cavalieri, Executive Vice President. InVictus was founded in 2015 and is a State of Florida certified WBE.  The co-founders of InVictus are highly experienced professionals with a combined 30 years of multifamily housing development experience as well as prior careers that lend perspective, judgment, and additional talent to their housing joint venture.

InVictus, Latin for “unconquered,” encapsulates the determination evidenced by the principals throughout their respective careers.  You will not find two more committed individuals than Paula Rhodes and Rick Cavalieri, as anyone who has worked with them will readily tell you.  No matter how meager the resources, no matter how difficult the competitive funding challenge, and no matter how long it takes, they will persevere until they succeed.  Whether it is winning the support of a community or local government reluctant to see housing built nearby, working with state and local governments and agencies to enlighten them on the unmet need to be addressed by a particular project and why that project is important to target for funding, navigating new federal and state and programs and regulations, addressing onsite issues during construction that require creative, cost-effective solutions, or clearing any number of other hurdles that arise, the InVictus principals are tireless in their efforts until the goal is accomplished and the job is done.


Paula McDonald Rhodes is the President and co-founder of InVictus Development, LLC, an affordable housing development company operating in Florida, Alabama, Georgia, and North Carolina.  Prior to forming Invictus in October 2015, Ms. Rhodes was Norstar Development USA’s Director of Development in charge of development of all Norstar multifamily, affordable, and workforce housing projects in the States of Florida and Alabama.  From 2006 – 2015, Ms. Rhodes was responsible for managing on behalf of Norstar all aspects of the Florida and Alabama development process from beginning to end, including identification of projects, site development, construction, financing, operation, and compliance.  Ms. Rhodes has over 20 years of legal experience in the areas of real estate and business financing, having worked for more than 15 years for the law firm of Carlton Fields in Tampa, Florida where she was an equity shareholder.  After leaving Carlton Fields in 2001 and prior to joining Norstar, Ms. Rhodes served as embedded counsel for Raymond James Tax Credit Funds, Inc. in St. Petersburg, Florida where she represented RJTCF in the syndication of low-income housing tax credits at both the investor and developer level.  Ms. Rhodes received her Bachelor of Arts degree from the Institute of Policy Sciences and Public Affairs, Duke University, and her law degree from Duke University School of Law.  Immediately following graduation from law school, Ms. Rhodes served as a judicial law clerk on the United States Court of Appeals for the D.C. Circuit.  Since 2014, Ms. Rhodes has been an active member of the Board of Directors, and from March 2016 – March 2019, served as Board Chair and President of, the Coalition of Affordable Housing Providers, Florida’s affordable housing industry vehicle for advocating legislative initiatives, promoting the affordable housing industry through networking and disseminating information, and acting as liaison to Florida Housing Finance Corporation to promote the private sector, local government, and public housing authority interests.  She remains an active member of CAHP’s Board. Ms. Rhodes is a frequent invited speaker at various industry conferences, including the Florida Housing Coalition Annual Conference, Novogradac Annual Tax Credit Developers Conference, and the Affordable Housing Investor’s Council Spring Meeting, addressing topics such as Fair Housing in the wake of the Supreme Court’s Inclusive Communities decision, NCSHA’s Updated Best Practices for state allocating agencies, Florida’s response to the effects of climate change and its impacts on building affordable housing, Gentrification without Displacement, and the impact of Opportunity Zones from an affordable housing developer’s perspective. Ms. Rhodes has also participated in two of The White House Opportunity and Revitalization Council’s Roundtable discussions and the invitation of the City of Orlando.

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Richard E. Cavalieri is the Executive Vice President and co-founder of InVictus in charge of preliminary site selection, entitlements, development and design, project management, and all construction activities of the InVictus multifamily projects.  From 2005 – 2006, Mr. Cavalieri was responsible for site selection and due diligence on commercial retail and multifamily housing projects for Primerica Group One, Inc., a Tampa development company specializing in Publix-anchored shopping centers.  In 2006, Primerica became joint venture partners with Norstar Development USA, LP on the development of affordable housing projects in Florida.  Mr. Cavalieri was then focused exclusively on Norstar projects and served as owner’s representative on all Florida affordable housing developments.  As Norstar’s Development Manager, Mr. Cavalieri was responsible for securing site entitlements, coordinating the efforts of architects, planners, engineers, and other professionals involved in the design process as well as the general contractor and oversaw all site planning, permitting, and approval processes.   Before coming to Norstar, Mr. Cavalieri was President of Heritage Construction & Development from 1981 through 1988 focusing on the purchase and renovation of existing market rate apartment complexes as well as development of office showroom warehouse buildings.  In 1988, Mr. Cavalieri became a founding partner in Impact Business Technologies.  Impact was an accounting software consulting group with 30 plus employees that tailored software to match the needs of the client.    Mr. Cavalieri as principal founder and president then transitioned Impact to Computer One, Inc., a computer consulting and support company focusing on accounting software and local area networking.  Computer One was sold in 2004.  Mr. Cavalieri is responsible for all InVictus information systems.  Mr. Cavalieri received his Bachelor of Science degree in Economics from the University of Michigan.  Mr. Cavalieri is currently certified as a Florida Building Contractor.

Principals History

Prior to forming InVictus, Ms. Rhodes and Mr. Cavalieri were responsible for the development, financing, and construction of 1,233 units of mixed-income, multifamily housing in Florida, all but 200 of which had completed construction and been placed in service at the time the InVictus principals left Norstar.

Since forming InVictus, Ms. Rhodes and Mr. Cavalieri have completed an 120-unit family affordable and market rate development in Orlando, Florida for which InVictus was competitively selected by the City of Orlando and the City of Orlando Community Redevelopment Authority to develop a mixed-income community on land owned by the City and the CRA.  This development received Opportunity Zone funding. In addition, InVictus is under contract with the City of Orlando and Orlando CRA to construct a 91-unit second phase to the Orlando development, which has been funded with CDBG-DR Hurricane Irma funds, CRA funds, and 4% tax credits with tax-exempt bonds.

InVictus also completed a 9% LIHTC allocation with HOME funds for a 56-unit family development in Selma, Alabama, and completed another 9% LIHTC allocation with HOME funds for a 56-unit family development in Andalusia, Alabama.  In Georgia, InVictus partnered with Zimmerman Properties on a 72-unit affordable development in Ringgold, Georgia  using 9% tax credits, State of Georgia tax credits, and HOME funds.

Michael Sherard

Career Focus

Real estate development executive with substantial experience in affordable housing equity investments utilizing Low-Income Housing Tax Credits (LIHTC), tax exempt bonds, state/federal capital programs, and mixed-finance structures.  Mr. Sherard joined InVictus in December of 2017 as Vice President of Acquisitions.

Carlyn Lagasse

Carly started with InVictus in October of 2019.  Carly is currently in charge of application data collection, exploring for new opportunities, compliance, and managing company marketing.  She is a graduate of Florida State University.

George Trujillo, Jr.

Commercial Leasing Partner | George Trujillo Incorporated


Mr. Trujillo is the sole shareholder of George Trujillo Incorporated (GTI), a local, minority-owned company he founded in 2004 to provide commercial site selection, commercial outparcel sales, and commercial leasing services to development companies. For the past 20 years Mr. Trujillo has negotiated leasing contracts with commercial tenants from national “big box” businesses to small local specialty shops for Tampa development company, Primerica Group One, Inc., among other endeavors.

In his early career, Mr. Trujillo held a variety of jobs from workshop presentation administration and book sales for Roger Fisher’s company, Conflict Management, Inc. and held teaching positions in Quito, Ecuador for five years as part of an immersive Spanish language experience. In addition, Mr. Trujillo worked for several years in sales, service, and training for a large distributer of car stereo systems and was promoted to branch manager, first for its Nashville operation and then for its largest branch, which brought him back to Tampa.


Member, International Council of Shopping Centers


Studied at St. Pete College

Studied Music Theory and Spanish Language at Harvard University


Florida Licensed Real Estate Broker since 1984