Legacy Real Estate Ventures, LLC aims to find opportunities in the marketplace that provide upside advantages with well-positioned assets that have currently been mismanaged or operated incorrectly. An example is a well-located development site in an area where for-sale residential product is difficult to find in scale. The recent focus on mixed-use projects within the Community Plan, and the robust support for high-density residential developments within the commercial nodes, signal poignant timing to enter into the development arena in this particular area. Legacy Real Estate Ventures, LLC has in depth market knowledge that provides us with the necessary tools to track these assets through each stage of deterioration and capitalize in a business transaction in which both parties achieve the desired result.
Legacy Real Estate Ventures, LLC experience in development affords us the knowledge of how to engage the community during the preliminary design phases of the project in order to assure that project opposition is kept to a minimum. The success of the project hinges on the reputation of the site and likewise the support of the “grass-roots movement” behind the development. Our four managerial pillars during the project horizon allow us to control each portion of the development phase with the engagement of key stakeholders at the appropriate time to insure the momentum of The Pernicano does not stall. Our four Pillars are:
ENGAGE – DEFINE – DEVELOP – MARKET
ENGAGE: LREV has a multi level approach to project approval that appeases all stakeholders and likewise gains positive momentum for the project. It is essential to gain the trust of these groups so the project is protected “behind the scenes.” The approach focuses on engagement of key stakeholders, public community groups, and non-profits, and community businesses.
DEFINE: The backbone of development is to define and understand the community and neighborhood before proposing any plans. Once the character of the community is established, we define the consultation plan and engage both the proponents and opponents of the community. By seeking out opponents of the project early we can quantify the problems and forecast how to handle the proponents and opponents in the neighborhood.
DEVELOP: The construction process allows total control over each aspect of the development phase. The systematic process allows for checks and balances throughout the development of The Pernicano. Our depth of knowledge in the development arena offers 75 years of experience, 5,000 newly built single-family residents, and 6,000 condominium units. Construction management and forecasting is the most important measure in the preliminary phases of the development as it allows us to value engineer the project in the most efficient manner.
MARKET: LREV focuses on the relationships within the team to execute on the sales, leasing, and marketing strategy for the new development. These team members are chosen at the inception of the project in order for a cohesive team to work through and understand the development from the initial phases and design review.