Land acquisition, financing, design, entitlement. Total Project Cost: approximately $23 million
Shopoff Realty Investments
As EVP of Development, sourced the land acquisition and financing, assembled design/entitlement team, led all political efforts with Mayor, City Council, oversaw architectural design, negotiated easement agreements with challenging neighbors, etc. to entitle project. Project was approved in Spring 2015, and project/land will be sold to one or more builders. Expected profit is 2.5-3x equity multiple.
Strong infill location within walking distance of new light rail line coming in, approx. one mile from large Hollywood Park redevelopment/possible new NFL stadium
Total Project Cost: approximately $23 million, with expected sale in excess of $60 million
Density: approximately 18 units/acre, 4 separate product types
