What We Do
New Urban Vision utilizes its relationships with faith-based and community-based organizations, brokers, property owners, tenants and other stakeholders to identify and create transit-oriented infill development opportunities. We target properties situated along heavily traveled transportation corridors in areas that reflect high population density, concentrated spending power, strategic location and unmet demand for excellent housing and basic retail services. We believe that as the U.S. economy recovers from the recession, there will be significant opportunities to acquire distressed and underutilized commercial real estate at historic discounts.
Our strategy hinges on leveraging opportunities to either (i) attract strong retail/commercial tenants to occupy properties that we can control, reposition and operate, or (ii) redevelop under-performing assets to create space for mixed-income housing, schools, child care, health care, retail and/or commercial space. Based on the huge amount of retail leakage measured throughout a number of LA-area submarkets and critical shortages of quality affordable housing and healthy food choices in many areas, we believe that our successful execution of this strategy will lead to significant risk adjusted returns over the coming years.
Once a prospective opportunity has been sourced, we apply strict underwriting guidelines to accurately identify each asset's initial valuation and prospective enhanced value and we identify and analyze multiple exit strategies during the origination phase. This approach enhances the opportunity for our projects and investments to be economically feasible, and helps us to deliver an excellent finished product that will enhance and diversify the supply of affordable housing and retail/community services in emerging urban markets. Our most valuable assets have always been our integrity and credibility, and the only standard we use to measure performance is excellence. New Urban Vision is fully committed to use its relationships, expertise and business strategy to transform and empower urban communities across Southern California.
In 2009, New Urban Vision completed a new charter school development for Paradise Baptist Church in Southeast Los Angeles that involved remodeling over 20,000 square feet of building space, and we are currently working with Paradise Baptist Church and its nonprofit affiliate, New Life Economic Development, to design and build a new affordable housing project on the church's existing parking lot. NUV is also partners with PATH Ventures on a mixed-use development in Inglewood, and we presently advise several nonprofit organizations looking to maximize the long-term value of their partnership interests in existing multifamily and senior affordable housing projects.
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