Pennbrooke Fairways in Leesburg, Florida, was begun in the mid 1980's as a mobile home community, and the previous developer converted to site-built homes several years later. Due to that developer's inexperience in site-built construction, as well as the lack of available capital to carry the project through a period of slow sales, the project eventually failed and was foreclosed.

An FLC affiliate acquired Pennbrooke in 1992 and began remarketing the project as Pennbrooke Fairways. During the next 10 years, FLC made a major investment in project infrastructure, including building a new welcome/sales center, refurbishing the existing 9-hole executive golf course, adding two additional 9-hole courses, constructing two clubhouses, and making major improvements in other amenities.

These efforts, coupled with careful target marketing, raised sales rates to 120-150 units annually, and the project sold out in early 2004.