“The Urban Revival”
The future of successful development in the United States will be a harmonious blend between residential, commercial, cultural, institutional, and industrial uses. San Diego ranked 4th in California and 15th in the nation in regards to positive investment growth, infill opportunities, and new housing opportunities. These values signal strong economic confidence that a sustainable recovery is present in the region. We are vested in San Diego and continue to stay in the core markets that we have performed very well in since 2009. Our favorable reputation in the community, as a developer sensitive to the surrounding historical culture, creates continuous deal flow and opportunities. We we look forward to next 5-7 year real estate cycle focused primarily on high density, urban corridors such as North Park and Hillcrest. Here are some statistics from the the 2013 Urban Land Emerging Trends in Real Estate publication, which displays very favorable conditions for San Diego in the coming years.
Generation Y has bridged a generational gap that will truly shape how new development occurs throughout America cities during the next few decades. Although there will always be demand for suburban living, municipal officials must understand that there are significant sociological trends that are driving citizens to move back to urban areas.
Since Legacy Real Estate Ventures, LLC inception in 2009, we have been demographic driven and focused on which parts of San Diego had the highest expected growth rates. This information was crucial regarding the timing and execution of the LREV OF I “Fix and Flip” program. Being focused on these specific areas allowed to the company to gain robust knowledge regarding demographics, market data, and most importantly what makes projects successful. Young professionals and empty nesters are rediscovering urban benefits – convenience, timesaving and community. People between 25-40, either single individuals or married couples without children, are a huge portion of the urban population, and they are driving demand for new infill development.
Legacy Real Estate Ventures, LLC is aggressively pursuing the acquisition, development, and redevelopment of commercial, multifamily, and mixed-use real estate throughout Southern California. The strategy includes ground-up development, adaptive re-use, and the acquisition and redevelopment of existing assets. Legacy Real Estate Ventures, LLC has the team and resources to execute on opportunities that meet the following criteria:
- Investment Strategy: Value-add, opportunistic and development sites; renovation, major redevelopments and entitled land preferred
- Product Type: Urban infill or mid-rise communities
- Target Deal Size: $1,000,000 to $20,000,000
- Target Markets: Core Southern California urban and coastal neighborhoods