News And Updates

Senior Living Complex Will Replace Run-Down School In Orange

2011-07-15T18:36:00.000-07:00

Orange County Register
July 15, 2011

Brighten School and Arts Academy was once a promising, underfunded private school of about 100 students -- the Titans were their mascot.

Now the facilities at 184 North Prospect Ave. have become somewhat of a dump.

Mock-up of Santa Ines Senior Villas, an affordable senior living complex that will replace what was once the grounds of Brighten School and Art Academy.

COURTESY SCOTT CHOPPIN

MORE PHOTOS »

Since Brighten's closing in 2009, the building's condition has deteriorated -- trash now litters the grounds and many of the walls are festooned with elaborate graffiti. Sergeant Dan Adams from the Orange Police Department said they've received nine reports for service from the property since it became vacant for suspicious persons and tagging.

The owner of the property, who could not be reached, could not afford to maintain the property because of a financially crippling divorce, according to his lawyer, John Stifter. The building has served generations of private schools, including the Montessori Children's Academy of Orange and the French-American School Lycee.

But the long-time campus grounds could see new life – just not as a school. The City Council has approved the design of a 42-unit low-income senior living complex on the property at its meeting this week. The project will be developed by Urban Pacific Multi-Housing, which has completed two other senior living projects in Orange.

Scott Choppin, co-founder of Urban Pacific, said the building's design was poorly suited for a school because of insufficient parking and outdoor amenities, as well as the presence of asbestos and lead-based paint. "The building is physically obsolete," said Choppin in an email.

The proposed design consists of mostly one-bedroom units with some two-bedroom units, and incorporates a 1,632-square-foot rooftop deck, a 1,895-square-foot community room and decks, patios or balconies for each unit. Choppin said that rents will be set at approximately 50 percent to 60 percent of the county's median income.

Choppin expects construction to commence in 2012 at an estimated cost of $13.1 million. Funding will come from a combination of federal low income housing tax credits, bond financing, and funds from the city's redevelopment agency.

Since the fate of the city's redevelopment funds is uncertain because of potential state reforms that could affect their availability, the project's funding will be decided at a later meeting as a separate council item.

Article Link Here: Senior Living Complex Will Replace Run-Down School In Orange

Urban Pacific Construction Completes $2.0MM Project on Central Coast

2011-06-15T08:50:00.000-07:00

Urban Pacific Press Release
June 15, 2011

San Luis Obispo, CA -- Urban Pacific Construction Corp. (UPCC) - a California-based general contractor, has completed the construction of the Camino Purisima Residence in Arroyo Grande, CA. The residence is a 10,000 square foot residential structure on a site measured at over 2 acres.

UPCC collaborated with the project architect, Pismo Beach-based Jeff Schneidereit Architects (JSA) to complete the Spanish style residential project in approximately 18 months. The project received its Certificate of Occupancy this month.

"Our team worked closely with JSA to accomplish our goal of the highest quality, world-class build" said Scott Choppin, Founder and CEO of the Urban Pacific Group of Companies. "The owners of the project were closely involved in and fully supported the build-out process, and are very pleased with the end result."

About Urban Pacific Construction:

UPCC is a full-service general contractor, servicing the Western United States, and is a wholly-owned subsidiary of the Urban Pacific Group of Companies. UPCC provides construction management and general contracting services to its affiliate companies and select third parties. Specializing in the construction of urban infill, mixed-use, and affordable housing, UPCC has offices located Southern and Central California.

http://www.urbanpacific.com/construction

Redevelop this, California! - Blog Comment

2011-03-06T19:29:00.000-08:00

placeshakers.com - Redevelop this, California!
March 6, 2011

Blog Comment/Letter To The Editor:

We applaud the authors’ argument to change the way we use the “crude” tool of redevelopment. However, the debate cannot be limited to eminent domain when we debate the future of redevelopment agencies in California. There are two significant issues that are missed in this writing: One, that for all practical purposes, most city councils in this state do not use their power of eminent domain. Kelo has effectively eliminated the political will to assemble land via redevelopment agency (RDA) action. So one can’t effectively argue that the wind down is predominantly related to the elimination of agencies. Two, and most importantly, the Governors’ elimination of redevelopment entirely destroys the critical mechanism for affordable housing production in California (the other article you reference, and that you agree with, argues this, yet provides no solution to the issue). Let’s be honest, we have some of the most expensive housing in the nation. Are we really in a position to eliminate a badly needed source of funds for affordable housing? Oh, please don’t tell me cities will step in to solve their own housing problems; most cities barely tolerate affordable housing generally. With a few exceptions, most cities just wish the requirement to supply affordable housing would go away. Finally, the private market does not invest [in] affordable housing without a financial incentive to do so. The supply of housing funds from agencies is one of the main sources of that financial incentive. Your article does nothing to provide for a solution to this issue, beyond some nice drawings of street corners. The bottom line: eliminating agencies would eliminate the most important source of affordable housing money in the history of the state of California. We do not have the luxury as a state, to lose additional jobs to areas that have less expensive housing, nor to states that more heavily believe in the idea of financial support of affordable housing. Without this supply of redevelopment agency housing setaside funds, the affordable housing industry and the housing they provide will be set back decades in California.

Scott Choppin

March 6, 2011 at 11:46 pm

Article Link Here: Redevelop this, California!

What's For Sale: A Small Loft With a Key Location

2011-02-02T17:53:00.000-08:00

LA Downtown News
February 2, 2011

What's For Sale

...The History: You read that right — the structure went up in 1897, and was the second office building in Los Angeles. It followed the Bradbury Building, which sits kitty corner to the Pan American (it was originally known as the Irvine Byrne Block, and sat directly across from the old City Hall). It was home to the Mexican consulate during World War II, and later housed a Giant Penny discount store that moved out in 2004. In 2006, developer Urban Pacific spent $20 million to convert the mostly vacant five-story complex into 40 lofts.

Article Link Here: WHAT’S FOR SALE: A Small Loft With a Key Location

Urban Pacific Construction Completes Workforce Housing Project in Southern California

2010-06-15T09:13:00.000-07:00

Urban Pacific Press Release

June 15, 2010

Long Beach, CA -- Urban Pacific Construction Corp. (UPCC) - a California-based general contractor, has completed the construction of a 2-unit workforce housing community located in El Monte, CA. The homes were built for Rio Hondo Community Development Corporation, based in El Monte. The homes were subsidized by the Redevelopment Agency of the City of El Monte.

The homes each contained 3 bedrooms and 2-1/2 baths, with a 2 car garage, and totaled approximately 1,400 square feet each. The homes sold quickly, each priced in the mid-$200's. UPCC worked with the project architect, Gonzalo Herrera, to complete the Spanish style residential project in approximately 8 months.

"Rio Hondo is such a great client, and our team was very happy to be involved in building affordable housing in Southern California. As many who know us will attest, affordable housing has been close to our hearts since the formation of Urban Pacific to pursue urban housing and affordable projects many years ago" said Scott Choppin, Founder and CEO of the Urban Pacific Group of Companies. "I personally talked with these new owners, and they were extremely pleased with their new homes"

About Urban Pacific Construction:

UPCC is a full-service general contractor, servicing the Western United States, and is a wholly-owned subsidiary of the Urban Pacific Group of Companies. UPCC provides construction management and general contracting services to its affiliate companies and select third parties. Specializing in the construction of urban infill, mixed-use, and affordable housing, UPCC has offices located Southern and Central California.

http://www.urbanpacific.com/construction

GreenPearl Events

2010-02-04T20:49:00.000-08:00

Distressed Real Estate Summit – California
February, 4, 2010

Scott Choppin, Panelist

Urban Pacific Construction Corp. Completes Initial Phase of Construction on The Vaquero in Downtown San Luis Obispo

2009-09-18T09:24:00.000-07:00

Urban Pacific Press Release
September 18, 2009

Helping the project developer meet an expedited schedule requirement, Urban Pacific Construction Corp. completes the demolition phase of the site ahead of schedule.

San Luis Obispo, CA -- Urban Pacific Construction Corp. (UPCC) - a California-based general contractor, has completed the initial phase of construction on the Vaquero Mixed-Use Project in downtown San Luis Obispo, CA.

Continuingit's execution orientated approach, UPCC worked closely with the projectdeveloper, Santa Barbara-based La Playa Properties and the City of San Luis Obispo todemolish a portion of the project site in preparation of project build out. Theproject is expected to begin full construction in 2010.

"Wehave identified the Central Coast market as one ofour primary growth markets going back nearly 2 years. We are a generalcontractor that focuses on urban infill, mixed-use, and affordable housingcommunities, and this project is a perfect example of the type of project wherewe can add tremendous value in the construction arena." says ScottChoppin, President of UPCC.

Inorder to expedite the start of construction, UPCC was instrumental in bypassingthe normal air quality control district 10-day notice period by working withthe city to obtain a waiver for the notice period. "La PlayaProperties and the city were both extremely anxious to start the work, we wereable to coordinate between the Air Pollution Control District and the city of San Luis Obispo to avoida significant delay to the start of the work. This is exactly the type ofproactive solution that we deliver to every project we work on." notes Mr.Choppin.

TheVaquero, a 33-unit mixed-use residential and retail development, is located atthe corner of Marsh and Nipomo Streets in downtown.

For video of the demolition work, please gohere: UPCC Video Channel on YouTube.

AboutUrban Pacific Construction:

UPCCis a full-service general contractor, servicing the Western United States, and is a wholly-owned subsidiary of the UrbanPacific Group of Companies,. Specializing in the construction of urban infill,mixed-use, and affordable housing, UPCC has offices located Southern and Central California. with it's most recent office openedin San Luis Obispoin August 2009.

http://www.urbanpacific.com/construction

Looking for the Window of Opportunity

2009-07-07T18:03:00.000-07:00

Crittenden Builders
July 7, 2009

Looking for the Window of Opportunity

...The Urban Pacific Group of Companies (UPG) expands its affiliate Urban Pacific Realty Advisors (UPRA) to include real estate and construction consulting services to lenders, mezzanine providers and investors on the West Coast, a hotbed of distressed assets. Anticipating investment opportunities some 14 months ago, UPRA President Vlady Sheynin reaches out to banks and investors with distressed assets to sell at typically 50% of the face value of the original note, sometimes more.

Mid-Rise Rules

2008-04-18T18:11:00.000-07:00

Crittenden Builders

April 18, 2008

Mid-Rise Rules

...Urban Pacific Group’s mid-rise construction falls off dramatically as the builder sees its mid-rise business drop from 100% to around 20% to 30% in the last 18 to 24 months. CEO and Founder Scott Choppin feels small margins create a great risk when building mid-rise condos. Choppin thinks the second-home condo market weathers the downturn well and mid-rise condo building will turn around in the next two to three years as more baby boomers look to retire into a low maintenance lifestyle. Urban Pacific takes its time building in small, manageable phases. Phase II of the five-story The Cannery Lofts in Astoria, Ore., holds steady as it sells 35% of its 33 units. The development offers 900-s.f. to 1,400-s.f. condos from the low $200Ks to $400K for waterfront views. He moves forward on another 54-unit, four-story mid-rise. Phase I of The Sanctuary at Axis, Westminster, Colo., will include 18 homes. Expect delivery in late 2009 or early 2010. Square footage will be 1,100 s.f. to 2,000 s.f. and priced from the mid-$200Ks to low $400K.

Sign of the Times: Rental

2008-03-28T09:39:00.000-07:00

Denver Post
March 23, 2008

..Long Beach, Calif.-based Urban Pacific Group revised its plan for 725 for-sale units at the Enclave at Axis near the Church Ranch light-rail station in Westminster to include 235 rental units. The apartments and 54 condos will be developed in the project's first phase. "The early condo phases are expected to be fairly small," said Scott Choppin, founder and chief executive of Urban Pacific "It arguably makes sense not to do any for-sale until we see where the market goes."

Article Line Here: Sign of the times: Rental

International Builders' Show

2008-02-13T20:38:00.000-08:00

The 2008 International Builders' Show
February 13, 2008

Scott Choppin, Panelist

Appearances at this Show:

Land Acquisition Strategies: Planning for the Next Cycle

California Recycle Underutilized Sites (CALReUSE) Program

2007-04-20T21:40:00.000-07:00

2006 Annual Report
April 20 2007

Project Highlights

Urban Pacific Builders, Signal Hill, CA

The former Beach City Chevrolet in Signal Hill ran asuccessful business for 50 years until the dealership was forced to close dueto flagging car sales. The site sat vacant until infill developer, UrbanPacific Builders saw an opportunity to build much needed moderately pricedhousing. After conducting its initial environmental investigation, UrbanPacific discovered – along with the usual suspects associated with auto sites(underground fuel and waste oil tanks) – that the site had previously been partof an oil and gas production operation. The initial report revealedthe existence of several oil wells that had been abandoned under olderregulations. That’s when Scott Choppin, President of Urban Pacific, calledCCLR [California Center for Land Recycling].

Fearing the project was now “upside-down” – an expressionused when the cost of the environmental cleanup is higher than the value of theproperty – and a close date looming, we were able to provide Urban Pacific witha loan for the next phase of investigation to determine if the project wasstill viable.

With our funds, Urban Pacific was able to define andestimate the cost of the

environmental cleanup and re-work the proforma for theproperty. Construction is underway on this development, which includes an 81-unitcondo complex of two- and three story buildings with ocean and city views.

“This program is an excellent tool for developers that provide housing in the urban environment. Given the critical need to recycle brownfield sites, the program provided much needed funds early in the development process that allowed Urban Pacific to go the distance when it came to the site assessment and clean up operations.”

— Scott K. Choppin, Chief Executive Officer, Urban Pacific Group, Inc.

Article Link Here: 2006 Annual Report

Urban Pacific Group, Inc. Names Industry Veteran Kerry Choppin Executive Vice President

2007-02-21T13:27:00.000-08:00

Urban Pacific Press Release
February 21, 2007

Urban Pacific Group, Inc. Names Industry Veteran Kerry Choppin Executive Vice President

LONG BEACH, Calif., Feb. 21, 2007 - Urban Pacific Group, Inc. today announced that real estate industry veteran Kerry Choppin has been named Executive Vice President, Business Development, a new position, effective immediately. Choppin will be responsible for overseeing Urban Pacific's efforts to expand its development activity in California and the Western U.S., including identifying and acquiring potential new development opportunities. "It's incredibly exciting to be able to work with my dad, who has been involved with real estate development in California for more than 30 years, and from whom I'm sure I still have a lot to learn," Scott Choppin, CEO, said. "He will be a great resource for every member of our team."

Prior to joining UPG, Kerry Choppin had been with The Olson Company since 1991, serving most recently as Director of Acquisitions and Business Development. In this capacity he was responsible for the creation of a variety of high-quality residential communities, with expertise in public/private partnerships and urban infill housing.

From 1984 to 1991 he owned his own firm, Kerry Choppin Developments, where he directed the development and management of multifamily apartment communities throughout Southern California on a joint venture basis with local financial institutions. Choppin launched his real estate career in 1976 at IDM Corporation, a Long Beach-based commercial and residential developer. At IDM he was involved in acquisitions of existing commercial and residential properties and vacant land, as well as business development.

Headquartered in Long Beach, Urban Pacific Group is a multifaceted real estate investment and development company, with core operations in urban infill and mixed-use communities, including the development of for-sale communities and the development and acquisition of multifamily communities throughout the Western U.S.

The company currently is developing urban loft housing in downtown Los Angeles and Long Beach, San Pedro and Astoria, Oregon, as well as new town centers in Garden Grove and Westminster, Texas.

Editors Note: Kerry Choppin has since moved to another for-sale housing company, after Urban Pacific focused exclusively on market rate and affordable rental housing.

Pan American Sells Its Thinnest Unit Yet

2007-02-07T19:20:00.000-08:00

blogdowntown.com
February 07, 2007

Eric Richardson [Flickr]

DOWNTOWN LOS ANGELES — There's an article running on Globe St right now talking about how the Pan American Lofts worked a tax benefit by giving an easement on the building's facade to the LA Conservancy.

Urban Pacific Builders of Long Beach has struck a deal with the Los Angeles Conservancy and will share tax benefits of the arrangement with buyers of Urban Pacific's Pan American Lofts. In what the builder describes as "one of the first transactions of its kind," Urban Pacific will grant an easement on the ornate five-story 1895 Beaux Arts facade to the Los Angeles Conservancy.
In return, Urban Pacific will receive tax benefits that it says it will share with buyers of the lofts, some of whom may be eligible for tax deductions of up to $80,000, according to Scott Choppin, CEO of Urban Pacific Group, parent company of Urban Pacific Builders. Choppin says that whether buyers qualify for the deduction is something for their individual tax advisers to determine.

The easement on the facade gives the Conservancy the ability to protect the building's exterior from changes that would alter its historic characteristics. It's a cool program, and the Conservancy has a PDF describing easements on their website.

Article Link Here: http://blogdowntown.com/2007/02/2506-pan-american-sells-its-thinnest-unit-yet

Buyers at Historic Pan American Lofts May Qualify for Preservation Tax Incentive

2007-01-22T11:56:00.000-08:00

Urban Pacific Press Release
January 22, 2007

Buyers at Historic Pan American Lofts May Qualify for Preservation Tax Incentive

LONG BEACH, Calif., Jan. 22, 2007 – Home buyers at downtown’s historic Pan American Lofts may be eligible for up to an $80,000 tax deduction thanks to a special agreement reached with the nonprofit Los Angeles Conservancy.

In one of the first transactions of its kind, developer Urban Pacific Builders, LLC will grant an easement on the five-story building’s ornate 1895 Beaux Arts façade to the Los Angeles Conservancy, allowing buyers of the 41 loft units to share in the tax benefits. Buyers should consult their tax advisors to determine their eligibility for the deduction, according to Scott Choppin, CEO of Urban Pacific Group, parent company of UPB.

“This building is an important part of the historic fabric of Los Angeles,” Choppin said. “We worked closely with the Conservancy to ensure that its architectural elegance would be preserved for generations to come. We are also proud of the way we transformed a neglected landmark into an exciting, stylish alternative for urban downtown living,” he added.

Constructed in the classic Beaux Arts style, the building was originally named the Irvine Byrne Building, although in more recent years it was popularly known as the home of the “Giant Penny” store. The building, located at 249 South Broadway at the corner of Third Street, is within a few doors of some of downtown’s best-known landmarks, including the Million Dollar Theater, the Grand Central Market, and the world-famous Bradbury Building. It is listed in the National Register of Historic Places.

Linda Dishman, Executive Director of the Los Angeles Conservancy, noted that it is part of the organization’s mission to help developers take advantage of incentives to protect the city’s architectural heritage. “Tax incentives are one way of doing that, although it’s rare for developers to pass along to the benefits to buyers, and this is one of the first examples we’ve seen downtown where that is happening,” she said.

Dishman expressed her gratitude to Urban Pacific “for their interest in preserving our historic assets for the long term. This is a victory, both for the public at large – because the building is protected in perpetuity – and for the buyers,” she said.

Residents of Pan American Lofts will have convenient access to the financial district, the Music Center and Walt Disney Concert Hall, Seventh Street Marketplace and other shopping, as well as the Civic Center and other downtown attractions.

The 40 lofts range from 800 to 1,400 square feet in a variety of floor plans, including several penthouse units with their own internal mezzanines and private rooftop decks. Prices start in the $400,000s, and special financing is available through a preferred relationship with Countrywide Home Loans.

One future Pan American resident who was delighted to learn about the easement is Dan Garcia, a music mixer and record producer who also happens to be a member of the L.A. Conservancy. “Broadway is the historic main artery of the city, and I’ve always dreamed about downtown and being a part of our history as well as the current resurgence. This building, like many others in the urban core, was in danger of being lost, so it’s great that people like me can actu ally live there, and everyone else can still appreciate its beauty,” he said.

Garcia added that he looked at other downtown loft developments, “but all of them tended to feel ‘apartment-y.’ Here I’ve got six large floor-to-ceiling windows – a million-dollar view of the Million Dollar Theater, so to speak – it’s like I’ve already got artwork hanging.”

Choppin suggested that potential buyers consult their tax advisors to learn about how to qualify for the tax deduction, and to visit the project’s website, www.PanAmericanLofts.com for more information. The sales office located at 316 W. Third Street, (213) 621-9970. “Fewer than half of the lofts are still available for sale, so we urge those interested to act quickly,” he said.

In addition to Pan American Lofts, Urban Pacific currently is converting the historic 12-story Brockman Building, located at 530 W. Seventh Street in downtown Los Angeles into 76 loft homes, and is also building or converting urban loft communities in Long Beach and San Pedro, as well as in Oregon and Colorado.

Headquartered in Long Beach, Urban Pacific (www.urbanpacific.com) is a multifaceted real estate investment and development company, with core operations in urban infill and mixed-use communities, including the development of for-sale communities and the development and acquisition of multifamily communities throughout the West. The firm was founded in 1999

Transforming the Irvine Byrne Building

2007-01-01T16:09:00.000-08:00

Los Angeles Downtown News
January 1, 2007

Long Beach-based developer Urban Pacific Builders has nearly completed a $20 million transformation of the old Irvine Byrne building at Third Street and Broadway in downtown Los Angeles, renaming it the Pan American Lofts. Move-ins are scheduled to begin by late January.

"The 115,000-square-foot project may not offer a pool and cabanas, a media room or a wine cellar like some other Downtown loft buildings, but it does have some burly bragging rights: It's the second oldest (former) office structure in Downtown, right behind the Bradbury building that sits across the street."

"Back in 1895, the building, originally called the Irvine Byrne Block, was only the second office structure in the area and sat directly across from the old City Hall...it was home to the Mexican consulate during World War II. In the 1980s, a Giant Penny discount store moved into the ground floor and remained until 2004."

"The building's upper levels, which circle an interior courtyard, were offices, complete with wood doors with gold lettering on the windows, and ceramic tile floors. The halls were used for filming and can be seen in dozens of movies and television shows, from Brad Pitt's Seven to a recent Asahi beer commercial."

"Additionally, the building is notable for its Spanish Colonial architecture (although it is also labeled as a Beaux Arts structure)...It was the second project by Sumner Hunt, who went on to design such Los Angeles landmarks as the Doheny Mansion, the Wilshire Country Club and the Automobile Club on Jefferson Boulevard. The structure's arched entryway and windows and its intricate terra cotta detailing are a testament to the style that Hunt soon spread all over Southern California...the building is listed on the National Register of Historic Places."

"Urban Pacific is working with the Conservancy on a so-called conservation easement, which will protect the building's historic character by giving the Conservancy the right to monitor and approve changes to the property's exterior."

Article Link Here: Transforming the Irvine Byrne Building

Engineering firm Otak acquires 50-person unit

2006-09-03T12:40:00.000-07:00

Portland Business Journal
September 3, 2006

.... In Warrenton, they are providing surveying, engineering and project management services to developer Urban Pacific Builders, which is developing Fort Pointe, a 280-acre subdivision next to Fort Stevens Park.

Article Link Here: Engineering firm Otak acquires 50-person unit

Rising Stars

2006-07-12T21:21:00.000-07:00

Multi-Family Executive Magazine

July 12, 2006

These five people aren't even 40 yet. But they're already leaving their mark on the multifamily business.

Some people catch the real estate bug early in life. Maybe their fathers or aunts or grandfathers were in the business. Or maybe they got a chance to work in construction or apartment management in college. For others, it's something they fall into after school or even further along in their career. Regardless, it's obvious that's there's no one path to success in the multifamily business.

For proof, take a look at this year's list of up and comers under age 40 in the apartment business. A couple of them began charting their path into real estate when they were in college. Others found their way into the multifamily business after starting out in other careers. Regardless of their path, all of these people have found success in the business–and they're just getting started.

URBAN BUILDER

Choppin follows the road to infill.

Duncan Osborne distinctly remembers the chats he used to have with Scott Choppin when the future managing partner of Urban Pacific Builders was a student at California Polytechnic State University at San Luis Obispo. Over the summer, Choppin would do maintenance work on Osborne's properties and talk about how he wanted to be in the real estate business. Osborne, an independent apartment owner in San Luis Obispo, took it with a grain of salt. After all, how often do school-age dreams become grown-up reality?

"We all thought we knew what we were going to do when we were in college," Osborne says. "Lots of people have ideas. Some of them get followed through on and some don't."

Scott Choppin – Urban Pacific Builders

Credit: Edward Carreón

Choppin, now 38, was one of those who did follow through on his dreams. He charted a course in real estate and meticulously stuck to his plan. After graduating from school, he hounded Los Angeles-based Kaufman and Broad (which eventually became KB Home) until he got a job there. There, he mastered tax credit financing. He wanted to move into the market-rate sector, so he took a job with Sares-Regis Group in Irvine, Calif., to do land acquisition.

After a year at Sares-Regis, he found even more challenges. "I figured that the biggest thing I was missing was getting out there and raising money in the capital markets," he recalls. "I needed to raise equity for deals and get myself financed by the banks. A little less than a year after I went to Sares-Regis, I decided it was time for me to start my own company."

He didn't set out to start just any old company, though. "Our full intent was to pursue urban infill and downtown core, mixed-use, and high-density residential," Choppin says. "That excited me. I like the energy of city and urban infill. I'm a Generation Xer. It was from a personal knowledge that I thought people would be attracted to that product."

At first, though, he had trouble selling this plan to institutions. But the New Urbanism movement and some successful products helped out–and so did his ability to take on difficult projects. "He's unique," says William Jenkins, a principal with the Laramie Co., a broker in Denver. "He takes on hard projects–ones that take a lot more time and you just can't slap up."

Choppin, who mainly builds condos, is most proud of the 89-unit Bank Lofts at San Pedro that helped rejuvenate a rundown area of San Pedro, Calif., and Axis, a 750-unit project that's under development in Westminster, Calif. Jenkins sold the site to Choppin. "When I assessed the site with Scott, I knew it had challenges," Jenkins says. "But when we got into it, it had more challenges. He's patient, persistent, and thorough in attacking a site. What you'll get at the end of the day is a unique product."

This relentless determination is the reason Osborne sees his one-time employee growing his business to even bigger heights. "The sky is the limit," he says. "He has the attitude and savvy to make Urban Pacific another KB Home."

Article Link Here: Rising Stars

Garden Grove Reaches Up

2006-07-03T09:52:00.000-07:00

Orange County Register
July 3, 2006

Officials point to two high-rises in a development as a draw to Garden Grove.

GARDEN GROVE - The city is gearing up for a $300 million project - with lofts, retail spaces and twin high-rises - that officials say will give Garden Grove a distinctive skyline.

The development, near Brookhurst Street and Garden Grove Boulevard, is in the preliminary stages and is not expected to break ground for about three years, said Scott Choppin, managing partner with developer Urban Pacific Builders.

ON THE DRAWING BOARD: The Brookhurst Triangle project envisions 800 housing units.

COURTESY OF URBAN PACIFIC BUILDERS LLC.

On July 24, the city's Public Works Department will start work on a sewer line to run through the project area. The work will result in lane closures on Brookhurst Street, Garden Grove Boulevard and Century Boulevard for about nine months.

Urban Pacific sees the 1.2 million-square-foot project as an "alternative to Anaheim's Platinum Triangle," a giant project with 9,500 homes and close to 5 million square feet of office space and 2 million square feet of retail space.

"This is for those who want the urban lifestyle but choose to live in Garden Grove for whatever reason," Choppin said. "We would like the Brookhurst Triangle to be a landmark in the community."

The city is negotiating the agreement with the developer, said Chet Yoshizaki, the city's economic development director. Urban Pacific presented a concept project plan that the city approved last week.

The current plan includes 800 housing units, including lofts, condominiums and penthouses atop the 11- and 16-story high-rises, as well as 40,000 square feet to 50,000 square feet of retail space.

City officials say the twin towers will add character to Garden Grove, which has long tried to upgrade its image.

"Things such as lofts and high-rises that we've seen in other cities, we'll now start to see in Garden Grove," Councilman Mark Rosen said.

The Brookhurst Triangle will complement the Garden Grove Galleria, an eight-story development with 126,510 square feet of commercial space and 66 condominiums, to be built across the street at 10080 Garden Grove Blvd., Rosen said.

It's too early to estimate prices for the homes or determine which businesses will move to the project, Choppin said.

"We're looking at a business such as Starbucks, a specialty grocery store, higher-end restaurants, as well the regular sandwich shops," he said.

Yoshizaki said some existing service-oriented businesses may remain, but others such as auto dealerships or furniture stores might get squeezed out.

The city owns about 6 acres of land in the central part of the Triangle and is acquiring more, he said.

Choppin said the plan is open to change and will depend on which way the real estate market swings. Hopefully we'll catch the market on the upswing when it's all done," he said.

Article Link Here: Garden Grove Reaches Up

Life After Dark: Rebuilding Urban Epicenters

2006-06-15T08:39:00.000-07:00

Builder & Developer Magazine
June 15, 2006

A homebuilder known for its adaptive reuse projects expands to other notable Western markets.

Article Link Here: Life After Dark: Rebuilding Urban Epicenters

UPB Moving Forward on Axis Development

2006-04-14T21:45:00.000-07:00

McGraw Hill Construction News
April 14, 2006

Urban Pacific Builders LLC expects to receive entitlements over the next several months on the first phase of Axis in Westminster.

Construction will begin later this year on the new urban, mixed-use master-planned development, which will include for-sale townhomes, lofts and flats, along with 24,000 sq ft of neighborhood-serving retail space.

The 15-acre site, which UPB has under contract, is located adjacent to the Westminster Promenade retail and entertainment complex, as well as a planned FasTracks high-speed light rail stop. OZ Architecture in Boulder is designing the project.

UPB has secured construction financing for the first phase of the project, which will consist of 180 units, said Scott Choppin, managing partner. Total build-out of the entire project will take an estimated three to five years.

In addition to new housing, Axis will feature such amenities as a central village green, community room, pool and spa, fitness center and business center.

Article Link Here: UPB Moving Forward on Axis Development

Urban Pacific Lands Agreement for $300M Redevelopment

2006-04-13T10:40:00.000-07:00

GlobeSt.com
April 13, 2006

By Bob Howard

GARDEN GROVE, CA-Urban Pacific Builders of Long Beach signs an exclusive negotiating agreement with the City of Garden Grove to develop the Brookhurst Triangle. It's one of the largest mixed-use projects planned for central Orange County over the next several years.

Article Link Here: Urban Pacific Lands Agreement for $300M Redevelopment

$300M Orange County Mixed-Use Community In Works

2006-04-12T20:51:00.000-07:00

Urban Land Institute

April 12, 2006

$300M Orange County Mixed-Use Community In Works

By Amanda Marsh, Staff Writer

Another mixed-use community is planned for Orange County, Calif., following the urban infill trend in the area. Urban Pacific Builders L.L.C. recently said that it has signed an exclusive negotiating agreement with the City of Garden Grove to develop the Brookhurst Triangle, a $300 million community mixing residential and commercial space.

The project, at the intersection of Brookhurst Street and Garden Grove Boulevard, will include approximately 800 housing units, consisting of two 10-story high-rise towers, three- and four-story lofts, flats and townhome-style buildings, as well as 30,000 square feet of commercial and retail space. It will be developed in several phases and could start delivering the first housing units by 2009.

The site consists of seven acres of vacant land and eight acres occupied by office buildings, car dealerships and strip malls. The city had been seeking to redevelop the area before it chose Urban Pacific, which had been working on designs and proposals for the site since 2002.

Although there are no inked tenants, Urban Pacific Builders managing partner Scott Choppin told CPN that there have been preliminary talks with neighborhood-focused retailers such as Walgreens and Starbucks.

Choppin added that there is a big traffic problem in California, and more residents are looking towards urban villages with walkability and proximity to mass transit. He said that the development is on the cutting edge of a new trend towards such mixed-use urban communities, not only in Orange County, but the entire West. Urban Pacific Builders has similar mixed-use communities under development in Long Beach, Calif., Colorado, Oregon and Texas, as well as six others in the pipeline.

"There's increased interest in places with more activity," John Shumway, a principal with The Concord Group, said, noting that his company has seen urban infill jump from 10 to 40 percent in just a few years. "Cities are striving to keep pace with combination residential and commercial product."

Article Link Here: $300M Orange County Mixed-Use Community In Works

Industrial-strength waterfront living

2006-03-23T10:44:00.000-08:00

Variety Magazine (Variety.com)
Mar. 23, 2006

San Pedro developers say: It's like Silverlake, but with an ocean.

That's a great pitch -- but will it sell seven-figure penthouse condos with a view of floating oil rigs?

That's the wager behind this spring's groundbreaking for Vue, a luxury waterfront high-rise designed by the architects of Marina Del Rey's Cove, Azzura and Regatta projects.

Vue marketing manager Rhonda Slavik sees nothing speculative in building a slick, green-glassed 16-story tower in a city previously defined by cookie-cutter apartment complexes and stucco beach homes. "We're seeing interest from people coming from ZIP codes we hadn't expected, such as the Valley," she says.

There's charm in the location alone: This industrial port city lies at the foot of the 110 Freeway, with direct access to Los Angeles that dodges the dreaded 405.

However, with developers planning to build more than 1,000 high-quality new units over the next two years, they're also banking on San Pedro's ongoing public and private overhaul.

Among the line items: port and hiking trail improvements, 42,000 square feet of retail space and an aggressive waterfront redevelopment program, "Bridge to Breakwaters."

Developers also take comfort in the close proximity of Palos Verdes, one of Los Angeles' wealthiest communities that's also home to the Trump National Golf Club and Residences, where prices are in the $20 million range.

Still, no one's expecting San Pedro to become Laguna Beach Lite. In San Pedro, a neighbor is more likely to be a mixed-media sculptor -- or a longshoreman -- rather than a Sony attorney with a surfboard. "San Pedro is a port town, not a beach town," says Tashia Hinchliffe of Shorewood Realtors in Hermosa Beach.

It's also a close-knit community: Tashia's parents, Doug and Robin Hinchliffe, own the old News-Pilot newspaper building, which became one of the San Pedro arts district's first artist-in-residence conversion projects. Naturally, their Realtor daughter was the building's first agent.

While ocean breezes and the cachet of a 310 area code may draw interest from the Venice or Manhattan Beach crowd, San Pedro does lack one telltale sign of gentrification. Says Tashia, "There is no pretension."

	Bank Lofts, San Pedro Downtown Artist District
	Urban Pacific Builders' adaptive reuse of the Bank of San Pedro building into 89 "soft lofts" that range from 975 square feet to over 2,600 square feet. Ground floor contains about 3,800 square feet of commercial space. Target completion date: winter 2006/2007
	Pricing: From the $300s to $1 million Contact: (310) 548-6585 Bankloftssanpedro.com

Article Link Here: Industrial-strength waterfront living

Scott Choppin Named One of 40 under 40

2006-03-15T17:31:00.000-08:00

Real Estate Southern California
March 15, 2006

Article Link Here: Southern California 40 under 40

Loft project takes hold in Astoria

2006-03-06T12:36:00.000-08:00

Portland Business Journal
March 6, 2006

In one of its first ventures outside its home state of California, Urban Pacific Builders LLC has begun construction of a 93-unit loft project in Astoria.

The Cannery Lofts takes its name from a former waterfront cannery on the banks of the Columbia River. In the first phase, Long Beach-based Urban Pacific will develop 33 residential units, which will be finished early next year. Sales begin this fall. The site will eventually be served by a trolley line.

The $17.6 million project is financed with equity from individual investors as well as construction financing from the Bank of Astoria. Thomas Johnson Architects LLC of Portland is the designer and Yorke and Curtis, also of Portland, is the general contractor.

The project includes ground-floor retail space as well as residential.

"The trend toward more people living in the urban core, closer to their work, is having a very positive effect on the socioeconomic well-being of cities, not just in California but elsewhere, and we expect the same will be true in Astoria," said Scott Choppin, co-managing partner for Urban Pacific Builders.

Article Link Here: Loft project takes hold in Astoria

Wheels Turning On Axis Project

2006-03-03T10:54:00.000-08:00

Westminster Window

March 3, 2006

A final piece of the planning puzzle that is development north of 104th Avenue at U.S. 36 has found its place. Axis, a new-urban, mixed-use' neighporhood project to include 12 four-to-seven-story buildings housing a mix of town homes, lofts and flats will fill a vacant 15-acre land parcel just north of Splitz at the Westminster Promenade. Construction on the first phase will begin later this year after final city approvals, said Scott Choppin, managing partner of Urban Pacific Builders (UPB), the project's developer.

Not the first mixed-use development company to target the city, Choppin said UPB views the Axis location as one that lends itself well to the new-urban concept. ''You're seeing a demand for this type of product in places that you normally would not expect it," Choppin said. "Like Westminster...that's maybe where (people's) roots are. They want to stay in the community." In addition to a solid block of both young professionals and aging baby boomers that planners expect Axis to attract, Westminster has its "Interlocken corridor" presence and its planned transit-oriented developments (TODs) going for it, Choppin said. The project, set to include 24,000 square feet of retail space on the ground level of the multistoried buildings, will be a fitting addition to the surrounding vicinity made up of the Promenade, the shops at Walnut Creek and the Circle Point office park, said Susan Grafton, the city's economic development director. "It ends up being an ideal transit-oriented development where you've got housing and retail and entertainment and employment right in walking distance," Grafton said. "I think the thing that's interesting is that it provides a sort of housing product that you typically see in a much more urban setting."

Axis will "solidify" the Walnut Creek and Promenade area as a transit-oriented development, Grafton said, adding that it will also generate additional traffic for the Promenade and Walnut Creek and be within walking distance to an RTD Park-n-Ride and anticipated FasTracks rail stop.

Prices of the townhomes, lofts and flats will range from the high $200,000s to low $400,000s, Choppin said, adding that the company wants to offer "a starter-home price product." Westward views from some of the units will be ''very dramatic," Choppin said. With 12 different buildings in the master plan, Axis will have predominantly straight streets with one street curving through the middle of the development. Characteristics will include narrow streets and wider sidewalks as well as a central village green, community room, pool, spa and business center. Describing the Axis concept as catering to those looking for simpler - and perhaps "cooler" - living styles, Choppin said the development makes it so that people "can have the product, can have the amenities" without moving to a true urban setting like downtown Denver.

Helping to fuel the Axis concept is the future RID FasTracks rail stop slated for the area just west of the Axis site. Mere steps away from the planned regional transit station, Axis' retail component will serve two purposes, Choppin said, by picking up pedestrian transit traffic as well as Axis residents looking for a coffeehouse, newsstand, bakery and other shop options. While the FasTracks station is several years out, the Park-n-Ride will likely be all set for easy access by Axis residents. Currently located at the southwest corner of 104th Avenue and U.S. 36, the Park-n-Ride is scheduled for relocation to the northeast corner of The Shops at Walnut Creek later this year. "We're anticipating that will get up and running by year's end," said Assistant City Manager Steve Smithers. With more cars than parking spaces each day at the existing Park-n-Ride, the new one is anticipated by residents who take the bus to work each day, including Mayor Nancy McNally. "We are full and overflowing and excited about finally moving," McNally said. In addition to relieving overcrowding, the new Park-n-Ride will shrink route times for RTD buses by adding slip ramps that speed up passenger drop-off and pick-up times, Smithers said. The new site will also improve accessibility for commuters thanks to a newly completed underpass connecting the Promenade and Walnut Creek below U.S. 36. The old Park-n-Ride location will enter city possession to eventually be sold and developed, Smithers said.

Article Link Here: Wheels Turning On Axis Project

Urban Pacific to Develop Mixed-Use Project to Suburban Denver

2006-02-21T08:17:00.000-08:00

Commercial Property News
February 21, 2006

Urban Pacific Builders LLC is in the planning stages of Axis, a mixed-use project in the Denver suburb of Westminster. Groundbreaking is expected by the end of the year. When finished, Axis will include an undisclosed number of for-sale residential properties and approximately 24,000 square feet of retail space. Urban Pacific managing partner Scott Choppin states that the development will be in line with the "new town" urban housing philosophy that the company has been pursuing since it was founded. He adds, "Most of what we've developed in California have been starter-home urban lofts, and we're now pursuing opportunities for that kind of development in other parts of the country." A light rail station will be a key component of Axis. Westminster is situated between Denver and Boulder, both of which are considerably pricier real estate markets.

Article Link Here: Mixed-Use Development Newsbriefs

Urban Pacific Builders plans Colorado project

2006-02-17T12:18:00.000-08:00

Los Angeles Business Journal
February 17, 2006

Urban Pacific Builders LLC expects to begin construction later this year on the first phase of Axis, a new urban and mixed-use master-planned development in Westminster, Colo.

The Long Beach-based company, which is establishing a satellite office in Denver, expects to receive entitlements over the next several months on the first phase of a project that will include for-sale townhomes, lofts and flats. It also will include 24,000 square feet of retail space.

The 15-acre site -- which UPB has under contract -- is located adjacent to the Westminster Promenade retail and entertainment complex, as well as a planned light rail stop.

Oz Architecture of Boulder, Colo., is designing the project.

Scott Choppin, managing partner with UPB, said in a news release that the firm has secured construction financing for the first phase of the project, which will consist of 180 units. Total build-out of the project is estimated to take three to five years.

"This will be a high-profile community, with housing to consist of four to seven stories over ground-floor retail, located next to existing retail as well as a planned FasTrack light rail station," Choppin said.

Along with new housing, UPB's Westminster project will feature such amenities as a central village green, community room, pool and spa, fitness center and business center.

UPB recently expanded beyond its home base in Southern California with its announcement of The Cannery Lofts, a 93-unit waterfront project located at a former cannery site in Astoria, Ore., as well as The River Mill at New Braunfels, Texas, which will include 1,500 housing units along with office, retail and light industrial space

Article Link Here: Urban Pacific Builders plans Colorado project

California Builder Plans Westminster Project

2006-02-17T12:05:00.000-08:00

Denver Business Journal

February 17, 2006

Urban Pacific Builders LLC expects to begin construction later this year on the first phase of Axis, a new urban and mixed-use master-planned development in Westminster.

The Long Beach, Calif.-based company, which is establishing a satellite office in Denver, expects to receive entitlements over the next several months on the first phase of a project that will include for-sale townhomes, lofts and flats. It also will include 24,000 square feet of retail space.

The 15-acre site -- which UPB has under contract -- is located adjacent to the Westminster Promenade retail and entertainment complex, as well as a planned light rail stop.

Boulder-based Oz Architecture is designing the project.

Scott Choppin, managing partner with UPB, said in a news release that the firm has secured construction financing for the first phase of the project, which will consist of 180 units. Total build-out of the project is estimated to take three to five years.

"This will be a high-profile community, with housing to consist of four to seven stories over ground-floor retail, located next to existing retail as well as a planned FasTrack light rail station," Choppin said.

Along with new housing, UPB's Westminster project will feature such amenities as a central village green, community room, pool and spa, fitness center and business center.

UPB recently expanded beyond its home base in Southern California with its announcement of The Cannery Lofts, a 93-unit waterfront project located at a former cannery site in Astoria, Ore., as well as The River Mill at New Braunfels, Texas, which will include 1,500 housing units along with office, retail and light industrial space.

Article Link Here: California Builder Plans Westminster Project

Developer plans Westminster project

2005-11-11T11:33:00.000-08:00

Denver Business Journal
November 11, 2005

A developer from Long Beach, Calif., will build a mixed-used project in Westminster as its entry into the Denver area.

Urban Pacific Builders LLC said its so-far unnamed project will include a mix oftownhomes, lots and apartments, along with 24,000 square feet of retail space. The IS-acre site is next to the Westminster Promenade retail center.

Urban Pacific Builders says preparing final plans for the site and securing construction financing will be done over the next several months. The first phase of construction, involving the building of 209 units, will begin early next year. The entire project will take three to five years to complete.

Boulder-based Oz Architecture is designing the Westminster project, which will include a fitness center and a business center.

Article Link Here: Developer plans Westminster project

New Braunfels Giving Its Past A Present

2005-11-07T15:27:00.000-08:00

San Antonio Express-News
November 7, 2005

To passing drivers, the old power plant at the entrance to Landa Park looks much as it has for decades. But inside, out of view, a transformation is taking place as construction crews turn the hulking brick structure into dozens of luxury loft apartments.

Across town, a California company, Urban Pacific, is getting ready to start an even larger project, converting a huge closed textile mill into condominiums and retail and office space.

The two projects spotlight the growing trend of "adaptive reuse" -- converting historic buildings to new uses. Increasingly common in large urban centers, projects such as these are relatively rare in towns like New Braunfels.

Perry Schroeder has joined Long Beach-based Urban Pacific

2005-10-02T14:29:00.000-07:00

Long Beach Press Telegram
October 2, 2005

Perry Schroeder has joined Long Beach-based Urban Pacific Builders LLC as a project manager reporting to managing partner Scott Choppin. Prior to joining UPB, Schroeder served as a project manager for Urban Partners in Los Angeles.

Urban Pacific finds opportunity in Picturesque Oregon City

2005-10-01T14:51:00.000-07:00

Multi-Housing News
October 1, 2005

Launching an aggressive expansion program outside its Southern California base, Urban Pacific Builders LLC has broken ground on a $21 million waterfront loft condominium. To be called The Cannery Lofts, it is located at a former cannery site on the banks of the Columbia River west of Portland, Ore.

"Astoria, Ore., reminds me of what San Francisco would have looked like 100 years ago," said Scott Choppin, Urban Pacific managing partner, referring to the city's waterfront orientation, hills, Victorian homes and architecturally significant downtown.

The 93-unit phase one of The Cannery Lofts will be developed adjacent to the Pier 39 complex.

Goodbye, Commute

2005-08-14T15:59:00.000-07:00

Los Angeles Times
August 14, 2005

....For buyers who prefer L.A. urban living, 40 condos, dubbed Pan American Lofts, are being developed downtown by Phoenix Realty Group, which oversees the $100-million Genesis Workforce Housing Fund. The developer also is constructing 89 workforce lofts in San Pedro and the Puerta del Sol condos on the Gold Line in the Lincoln Heights neighborhood of L.A.

For The Record
Los Angeles Times Saturday August 20, 2005 Home Edition Main News Part A Page 2 National Desk 1 inches; 48 words Type of Material: Correction

Workforce housing -- An article in Sunday's Real Estate section about workforce housing said that downtown's Pan American Lofts and San Pedro's Bank Lofts were being developed by Phoenix Realty Group. In fact, Long Beach-based Urban Pacific Builders is developing the projects; Phoenix Realty Group is the investor.

Article Link Here: Goodbye, Commute

Caught in the Crunch: Multifamily Builders Confront Volatile Construction Costs

2005-07-21T07:51:00.000-07:00

Multi-Family Executive Magazine

July 21, 2005

..."High-density infill projects use more concrete and steel, so we've had to look for better ways to build the same product," explains Scott Choppin, managing partner of Urban Pacific Builders, a Long Beach, Calif.-based company. "When you can get the same density for less cost it's a slam dunk."

So, instead of doing a traditional podium design with a parking deck and units above, Urban Pacific selected a slab-on-grade option. This less complex construction style lowers materials spend while maintaining project density. (See "Keep It Simple," below.)

Article Link Here: Caught In The Crunch

Deal of a Decade

2005-07-05T21:29:00.000-07:00

Multi-Family Executive Magazine
July 5, 2005

It Takes 10 Years to Bring Affordable Housing to Seniors in Southern California.

Developers hurdled many obstacles before they reached the February 2005 opening of the 57-unit Oak Creek Senior Villas on nearly two acres of once-blighted property in Thousand Oaks, Calif. The development team endured approval and construction setbacks and had trouble securing the money needed to bring affordable senior housing to the site. But when the doors finally opened after five years of dreaming, three years of planning, and 18 months of building, everyone from the county to local housing and financial officials said it was worth the decade-long headache to at last bring lower-cost apartments to an area handcuffed by slow-growth laws and filled with senior citizens on fixed incomes.

A LONG QUEST

SERIOUS ACCOMPLISHMENT: Oak Creek Senior Villas finally opened in early 2005.

For a decade, the city of Ventura had pinpointed an abandoned Montessori school popular with vagrants as a potential redevelopment site that could provide some much-needed affordable housing, says Arlene Adlin, development director for the County of Ventura Housing Authority. But the city's plans never seemed to go any further. “For 10 years, the city has been trying to get together funding ... but everything fell through,” Adlin says.

But in 2001, the city finally put out a request for proposals on the site. It selected Long Beach-based Urban Pacific Builders to develop the project, intended to house seniors who make no more than 60 percent of the area's median income, or about $35,000.

“Affordable senior housing is vital in Ventura County,” Adlin says. “We were filled from the day we opened.” Oak Creek residents pay $930 per month for a one-bedroom apartment or $1,184 for the two-bedroom units, she added.

DRIVEN TO SUCCEED

Despite the obvious demand for apartments at the now-completed Oak Creek, the property was a tough one to make happen. “I could have done five market-rate projects with the time and energy I spent on Oak Creek,” says Scott Choppin, managing partner with Urban Pacific Builders.

But Choppin says he felt driven to provide the project to an area starved for affordable housing. Among the pressures that make moderately priced projects difficult to do: a Ventura County law called Save Our Agricultural Resources, which bans greenfield development without a vote of the entire county and therefore limits the land available for development. “It is a very tough development environment,” Choppin says. “SOAR puts three-fourths of the developable land out of the equation.”

But once he had the land secured, Choppin focused on financing, which proved to be its own challenge. He first tried to secure funding through tax credits, but found the project's location was a problem: Because Oak Creek wasn't located in an urban area, the property wasn't considered geographically desirable enough to succeed in the highly competitive tax-credit arena. So Choppin then had to change to tax-exempt bonds to get started on construction.

Ultimately, the city's redevelopment agency provided a $1.2 million land loan and another $1.25 million in soft money, Choppin says. He secured another $1.3 million in state and federal housing money. But it still wasn't enough.

For the rest, Choppin went to an old friend: Simpson Housing Solutions of Long Beach, Calif.

FAST FRIENDS

Choppin, who once worked for Simpson Housing Solutions, contacted his former boss: Tom Erickson, now a senior vice president at Simpson.

Erickson, whose company invests in senior and family affordable housing projects all over the country, says he quickly agreed to put in $4.7 million in equity for the $12 million project. “We have always maintained a relationship, so I got the first crack at the deal from an investor point of view,” Erickson says.

The project also made sense financially, he added, because it met the three basic criteria for investing: a strong development market, adequate demand, and short supply. “We look at how a project would be received and how many income-qualified renters were in our range,” Erickson says. “There is a two-month waiting list of people in the market, and very little affordable housing in the city. The fundamentals were very good. It was a pretty quick decision.”

And it turned out to be the right one for investor Simpson. “The developer faced some challenges but we were pretty well-insulated,” Erickson says. “When you are working with a good developer, then you [as the investor] don't have a whole lot of challenges.”

Even when the deal takes a decade.

–Erin Massey is a freelance writer in San Diego.

Article Link Here: Deal of a Decade

Developers Get Creative With Downtown Housing: A Return To Cities

2005-06-15T18:49:00.000-07:00

Part 2: Developers get creative with downtown housing: A return to cities
By: Glenn Roberts Jr. - Inman News
June 14, 2005

Excerpt from Pacific Coast Builders Conference - Panel Discussion titled "Infill: The 'Out of the Box' Solution"

...Scott K. Choppin of Urban Pacific Builders, who spoke about infill development during a presentation at a builders' conference in San Francisco this month, said developers must take a creative, visionary approach to urban infill development. "The rules have to be broken almost everyday, and almost every minute of every day," Choppin said during a presentation to hundreds of conference attendees. "You have to be able to take risks in design."

Article Line Here: Developers get creative with downtown housing

Mill Buyer Up To The Task

2005-04-20T15:22:00.000-07:00

San Antonio Express-News
April 20, 2005

The firm that stepped forward this week to purchase the sprawling Mission Valley Textiles Mill has extensive experience in turning aging commercial buildings into funky, popular shopping areas and loft apartments.

Urban Pacific Builders is developing several such projects in California.

The 40-acre Mission Valley site, with its 610,000-square-foot, 84-year-old mill, would be its first Texas project, although the company owns a small tract of land in Austin and is looking at other projects in and around Austin, said Urban Pacific.

Textile Mill Is Bought With Mixed Use In Mind

2005-04-19T15:20:00.000-07:00

San Antonio Express-News
April 19, 2005

NEW BRAUNFELS -- A California development company called Urban Pacific Builders has bought the 610,000-square-foot Mission Valley Textile Mill, with a plan to redevelop the sprawling complex as a mixed-use residential and commercial project.

The mill, owned by the Plains Cotton Cooperative Association, is slated to shut down this year, said association spokesman John Johnson. A series of layoffs caused by cheaper foreign imports has left the mill largely empty.

Only 14 people still work there, finishing denim manufactured elsewhere.

Residential Race For Space

2005-04-15T16:04:00.000-07:00

Western Real Estate
April 15, 2005

Housing demand, urban development and mixed-use momentum have created a lively multifamily market.

High-growth markets, coupled with intense competition for land, have led to high-rise development and conversion trends in many of the West’s multifamily sectors. Western Real Estate Business sampled a number of projects to check out the market’s direction.

Bank Lofts

In San Pedro, California, Urban Pacific Builders
is converting the 1924-vintage Bank of San Pedro
into loft-style condominiums.

Located just south of Los Angeles, the city of San Pedro is recognized as one of the busiest ports on the Pacific Ocean. Currently, downtown San Pedro is undergoing a revitalization to transition the port town into a workable, livable environment.

Long Beach, California-based Urban Pacific Builders LLC and Phoenix Realty Group have recently closed escrow on the Bank Lofts at San Pedro, which will create 89 loft-style condominiums in the historic 1924-vintage Bank of San Pedro building near the Port of Los Angeles. The Bank Lofts, one of several new redevelopments slated for the area, represents the first new multifamily project in downtown San Pedro.

According to Scott Choppin, managing partner of Urban Pacific Builders, “San Pedro, like other downtown areas, is becoming more popular as a destination, and like other revitalized downtowns, urban housing will be an increasingly important part of the mix.”

The existing bank building, located at the corner of Seventh Street and Mesa Avenue, will be retrofitted with approximately 3,800 square feet of ground-floor retail space, new flats on the second floor and new two-story loft penthouses on the present roof level. Across the street at Eighth and Mesa, a second building, comprising four stories of units atop a parking garage, will be constructed on a vacant parcel, boosting the size of the two-building project to 200,000 square feet. Spanning from 975 to 2,650 square feet, Bank Lofts at San Pedro will start in the low- to mid-$300,000s and be a mix of flats and two-story townhomes, along with additional penthouse units. The $30.6 million development, which broke ground last fall and is scheduled for completion in spring 2006, also includes 154 subterranean parking spaces.

“It’s a vibrant community with a lot of charm and personality, as well as a great deal of local history,” says Mark Tolley, managing partner of Urban Pacific Builders. “It all adds up to making downtown San Pedro a great place to live.”

Jay Stark, managing partner of Phoenix Realty Group, says, “The Bank Lofts project offers home ownership opportunities to middle-income workers with a strong desire to live in a vibrant urban core close to the regional job centers of Long Beach, north Orange County and downtown Los Angeles.”

Strategically located within the San Pedro Arts District, the project is surrounded by commercial/office uses to the north, live-work spaces and artist galleries to the east, a senior’s center and public park to the south, and multifamily residential uses to the west.

The combination of the bank’s historical façade and new modern architecture will help promote Bank Lofts as one of San Pedro’s new signature residential communities.

Irvine, California-based KTGY Group Inc. is project architect.

Article Link Here: Residential Race For Space

Economics + LB Activism = Redevelopment Agency Buying Site

2005-03-02T21:04:00.000-08:00

LBReport.com
March 4, 2005

In Depth / Perspective

A developer has chosen on economic grounds not to pursue putting a seven-story a mixed-use building on a narrow strip of land abutting the 3d St. parking garage now displaying the historic LB Mosaic from the vanished LB Municipal Auditorium.

Photo source: U.S. National Archives

The 1938 Mosaic Mural is taxpayer property, one of the largest public art projects of the Roosevelt-era.

Locals recall that it was visible from at least a mile away inland (some say further) on Long Beach Blvd. when it loomed over the northern end of the former LB Municipal Auditorium at the beachfront.

A Observation Deck allowed visitors to view it close-up...

In an August 12 letter to the Cultural Heritage Commission, Councilwoman Lowenthal, wrote:

I am writing in support of the efforts made by Urban Pacific Builders to incorporate the WPA mural into their 3rd Street project, and in particular, ensuring public access to the mural is maintained due to its historical significance to the community. I have followed the progress made by URB in response to requested changes to the project, and I am very impressed that URB has made those requested changes.
As you know, historic preservation is very important to me, and I appreciate your efforts to that end.

The condominium project's developer, LB-based Urban Pacific Builders, told us at the time that it was publicly neutral on the Mosaic Mural controversy and it wouldn't resist moving it if that's what city officials really want...although managing partner, Scott Choppin, said his firm went to considerable lengths to display the Mosaic in a respectful, arguably improved setting. Among his points:

The courtyard/alcove display area would be open, visible and publicly accessible from the sidewalk, enclosed on three sides and on top of the mural as it was at the Municipal Auditorium...except that at the Muni Auditorium, one had to walk inside and walk to an Observation Deck to get a good look; with the proposed development, visitors could walk up to the Mosaic Mural from the sidewalk the mural, lighted 24/7 at the developer's cost; the developer also agreed to maintain the Mosaic at the firm's expense with the City retaining the ability to do maintenance work itself and charge the Homeowners Association for it...

Urban Pacific Builders is a respected firm, honored at a LB Area Chamber of Commerce gala celebration with its the developer's managing partners receiving commemorative awards from LB Mayor Beverly O’Neill and Chamber Chair Lou Anne Bynum. In early February 2006, RDA staff received a January 27 notice from developer Promenade Lofts Partners, LLC/Urban Pacific Builders, LLC stating it was withdrawing from the project. The developer cited factors including a prevailing wage requirement, increased construction costs (Hurricane Katrina and higher oil prices) and the project's design ("most specifically the number of units dictate to us by the planning department [which] does not allow enough units to carry the significant amount of fixed costs on this deal...").

The developer said it had expended over $750,000 on the project and didn't make its decision lightly. "[We] believe in this deal and downtown Long Beach. Nonetheless, we cannot move forward with the economics of this project being what they are," wrote the firm's managing member Scott Choppin.

Article Link Here: Economics + LB Activism = Redevelopment Agency Buying Site

Partnering on L.A. Lofts

2005-03-01T14:23:00.000-08:00

Origination News
March 1, 2005

LONG BEACH, CA -- Urban Pacific Builders LLC here and Phoenix Realty Group are partnering together on loft conversion for new housing in downtown Los Angeles.

The duo has closed escrow on a historic 1890s building, which will be converted to 40 live/work lofts. The six-story building, located at 249 S. Broadway at the corner of Third Street, is within a few doors of some of downtown's best-known landmarks, including the Million Dollar Theater and the Grand Central Market, and across the street from the world-famous Bradbury Building.

Scott Choppin, UPB managing partner, said the project, to be called CityView Lofts, will begin seismic retrofitting over the next several weeks, with construction of the lofts to follow early in 2005.

"The 'adaptive reuse' of this structure continues the growing trend of converting underutilized buildings in the urban core to housing," Mr. Choppin said. "The market for professionals who work downtown remains deep and relatively underserved, while at the same time, the benefits and amenities of downtown loft living are becoming more and more popular."

"The trend toward more people living in the urban core, closer to their work, can only have a positive effect on the socioeconomic well being of the city and, in fact, the entire region. If you think about Pasadena's Old Town, San Diego's Gas Lamp District or San Francisco's South of Market area, that's exactly what we're trying to create."

Jay Stark, Phoenix Realty Group managing director, said CityView Lofts represent the future of the real estate industry. "Phoenix, through the Genesis Workforce Housing Fund, is providing both the equity capital and expertise to spur investment in workforce housing so middle-income households can buy their own homes close to employment centers such as downtown Los Angeles. Our investors receive a competitive return on their capital and the community is enriched by stakeholders whose presence spurs retail, schools and cultural amenities," he said.

Residents of CityView Lofts will have convenient access to the Financial District, the Music Center and Walt Disney Concert Hall, Seventh Street Marketplace and other shopping, as well as the Civic Center and other downtown attractions. It will also be among the few downtown loft conversions that will offer units for sale as opposed to rentals. The lofts will range from 800 to 1,400 square feet in a variety of floor plans, including several penthouse units with their own internal mezzanines and private rooftop decks. The units are expected to start in the low $300,000 range.

Santa Monica-based Donald Alex Barany Architects is designing the project. Total development cost of the project is $16 million, Mr. Choppin said.

In addition to CityView Lofts, UPB currently is converting the historic 12-story Brockman Building, located at 530 W. Seventh St. in downtown Los Angeles into 76 loft homes, and is also building or converting urban loft communities in Long Beach and San Pedro.

Article Link Here: Partnering on L.A. Lofts

Urban Pacific Redevelops Historic LA Building

2005-01-15T18:14:00.000-08:00

Crittenden Builders

January 17, 2005

Urban Pacific Redevelops Historic LA Building

...Urban Pacific Builders LLC and The Olson Co. are capitalizing on demand for urban-infill communities including older downtown areas where residents can live close to their jobs and entertainment venues. Urban Pacific Builders plans to convert an 1890s historic downtown Los Angeles building into 40 loft homes called CityView Lofts. The top floor of the six-floor building is available to retailers. The remainder is dedicated to loft homes.

19th Century Building Slated For adaptive Re-use In Los Angeles

2005-01-01T15:16:00.000-08:00

Multi-Housing News
January 1, 2005

Urban Pacific Builders LLC (UPB) and Phoenix Realty Group announced the close of escrow on a historic 1890s-vintage building in this city's downtown, which will be converted to 40 live/work loft homes.

The six-story building is within a few doors of some of downtown's best-known landmarks, including the Million Dollar Theater and the Grand Central Market and across the street from the world-famous Bradbury Building.

UPB managing partner Scott Choppin said the $16 million project, to be called CityView Lofts, will begin seismic retrofitting over the next several weeks, with construction of the lofts to follow early in 2005.

Development

2005-01-01T09:16:00.000-08:00

Multi-Housing News
January 01, 2005

Development

Los Angeles—Urban Pacific Builders LLC (UPB) and Phoenix Realty Group announced the close of escrow on a historic 1890s-vintage building in this city’s downtown, which will be converted to 40 live/work loft homes.

The six-story building is within a few doors of some of downtown’s best-known landmarks, including the Million Dollar Theater and Grand Central Market and across the street from the world-famous Bradbury Building.

UPB managing partner Scott Choppin said the $16 million project, to be called CityView Lofts, will begin seismic retrofitting over the next several weeks, with construction of the lofts to follow early in 2005.

“The adaptive re-use of this structure continues the growing trend of converting under-utilized buildings in the urban core to housing,” Choppin said. “The market for professionals who work downtown remains deep and relatively underserved, while at the same time, the benefits and amenities of downtown loft living are becoming more and more popular.”...

Giant Penny Jackpot

2004-12-13T17:49:00.000-08:00

Los Angeles Downtown News

December 13, 2004

Giant Penny Jackpot

Kathryn Maese

...The intersection of Third and Broadway is famous for a number of reasons. There's the ornate Bradbury Building, the bustling Grand Central Market and the colorful Million Dollar Botanica. There's also the Giant Penny Stores, the business whose original faded red sign and oversized penny on the exterior harkens back to a time when the old P Line would rattle by, carrying loads of passengers looking for deals at the discount store.

Though the Giant Penny closed earlier this month, and the building's vacant upper floors have been used for filming, the 1894 Beaux Arts edifice is set to serve a different clientele - residents. Last week developers Urban Pacific Builders and Phoenix Realty Group closed escrow on the 249 S. Broadway structure, which it plans to convert into a $16 million, 40-unit condominium project by early 2006.

"It has a great location and so many great attributes that we consider this a jewel box deal," said Mark Tolley, principal at Urban Pacific.

Tolley said the five-story structure on the northwest corner of the intersection is one of the oldest wood and brick buildings in the city. It includes an inner courtyard. A project name will be decided in February...

1890s Building to Be Converted to Condos

2004-12-09T20:40:00.000-08:00

California Real Estate Journal
December 09, 2004

1890s Building to Be Converted to Condos

LOS ANGELES - Urban Pacific Builders LLC and Phoenix Realty Group will convert an 1890s-vintage building downtown at 249 S. Broadway to 40 live-and-work loft homes.

The property recently closed escrow, according to officials.

The $16 million project, CityView Lofts, would begin seismic retrofitting over the next several weeks, with construction of the lofts to follow early in 2005.

"The adaptive reuse of this structure continues the growing trend of converting under-utilized buildings in the urban core to housing," said Scott Choppin, Urban Pacific Builders' managing partner.

"The market for professionals who work downtown remains deep and relatively underserved, while at the same time, the benefits and amenities of downtown loft living are becoming more and more popular," Choppin said...

Urban Pacific, Phoenix Realty Group Partner on Loft Conversion

2004-12-08T09:46:00.000-08:00

Urban Pacific Press Release

December 08, 2004

LONG BEACH, Calif., Dec. 8, 2004 -- Urban Pacific Builders, LLC and Phoenix Realty Group today announced the close of escrow on a historic 1890s-vintage building in downtown Los Angeles, which will be converted to 40 live/work loft homes.

The six-story building, located at 249 South Broadway at the corner of Third Street, is within a few doors of some of downtown's best-known landmarks, including the Million Dollar Theater and the Grand Central Market, and across the street from the world-famous Bradbury Building.

UPB managing partner Scott Choppin said the project, to be called CityView Lofts, will begin seismic retrofitting over the next several weeks, with construction of the lofts to follow early in 2005.

"The 'adaptive re-use' of this structure continues the growing trend of converting under-utilized buildings in the urban core to housing," Choppin said. "The market for professionals who work downtown remains deep and relatively underserved, while at the same time, the benefits and amenities of downtown loft living are becoming more and more popular."

Added Choppin's partner, Managing Partner Mark Tolley, "The trend toward more people living in the urban core, closer to their work, can only have a positive effect on the socioeconomic well-being of the city and, in fact, the entire region. If you think about Pasadena's Old Town, San Diego's Gas Lamp district or San Francisco's South of Market area, that's exactly what we're trying to create."

Phoenix Realty Group managing director Jay Stark said CityView Lofts represent the future of the real estate industry. "Phoenix, through the Genesis Workforce Housing Fund, is providing both the equity capital and expertise to spur investment in workforce housing so middle-income households can buy their own homes close to employment centers such as down-town Los Angeles. Our investors receive a competitive return on their capital and the community is enriched by stakeholders whose presence spurs retail, schools and cultural amenities," he said.

Residents of CityView Lofts will have convenient access to the financial district, the Music Center and Walt Disney Concert Hall, Seventh Street Marketplace and other shopping, as well as the Civic Center and other downtown attractions. It will also be among the few downtown loft conversions that will offer units for sale as opposed to rentals. Choppin reported that the lofts will range from 800 to 1,400 square feet in a variety of floor plans, including several penthouse units with their own internal mezzanines and private rooftop decks. The units are expected to start in the low $300,000s.

Santa Monica-based Donald Alex Barany Architects is designing the project. Total development cost of the project is $16 million, Choppin said.

In addition to CityView Lofts, UPB currently is converting the historic 12-story Brockman Building, located at 530 W. Seventh Street in downtown Los Angeles into 76 loft homes, and is also building or converting urban loft communities in Long Beach and San Pedro.

For more information regarding CityView Lofts, phone UPB at (562) 590-5600 or visit www.urbanpacific.com.

Headquartered in Long Beach , UPB (www.urbanpacific.com) was founded in 1999 to provide urban housing through the development of premier infill residential communities throughout Southern California . Its mission is to offer innovative, high-quality, value-priced urban housing to consumers, and a solid, secure opportunity to investors.

Phoenix Realty Group (www.phoenixrg.com) is a private real estate firm with offices in New York and California that creates and manages smart growth equity funds. These funds finance the development of middle-income workforce housing, urban infill development and low-income tax credit housing, each of which links housing and commercial development with centers of employment.

CityView Lofts is the second workforce housing project for Phoenix Realty Group, manager of the Genesis Workforce Housing Fund, with several additional projects in the pipeline which are due to close by early 2005. When fully invested, the Genesis Workforce Housing Fund will supply 2,100 housing units across greater Los Angeles at a total development cost of $610 million. Phoenix is also the manager of the $60 million San Diego Smart Growth Real Estate Fund.

New Hopes Hung on Building

2004-02-05T16:13:00.000-08:00

Los Angeles Times
February 5, 2004

A developer plans to convert the Brockman tower to condos aimed at people who work in downtown L.A.

The Brockman Building, a classic downtown Los Angeles office and retail tower, has been purchased for almost $7.5 million by a developer who plans to convert it to condominiums.

The 12-story building at 530 W. 7th St. was built in 1912 and served as the backdrop for one of the most famous scenes in movie history: Harold Lloyd perilously dangling from a clock high above the street in the 1923 silent film "Safety Last!"

Long Beach-based Urban Pacific Builders and West Millennium Homes Inc. bought the 135,000-square-foot property, which includes an attached five-story annex facing Grand Avenue, from Thermo Cos.

The Brockman barely escaped the wrecking ball during the office-building boom of the 1980s when a Japanese developer bought the property with the intention of razing it and other buildings to make way for a new office and hotel complex. Brooks Brothers, a tenant in the Brockman for 50 years, moved its downtown clothing store to a new location in 1989, leaving the building empty.

The office and hotel project stalled during the early 1990s recession and the boarded-up block was an eyesore for years. Thermo, a Denver-based urban developer, bought the block in 1996.

Work on the condo conversion should be completed by the end of the year, said Mark Tolley, co-managing partner of Urban Pacific Builders. There will be 76 units expected to be priced between $300,000 and $1 million.

The 7,800-square-foot Brooks Bros. space will be rented to a retail tenant, Tolley said. A swimming pool and community room will be added on the roof of the annex.

Close to 5,000 residential units are expected to come on the market downtown in the next 24 months, but only 8% of those will be for sale, said real estate broker Mark Tarczynski of CB Richard Ellis, who represented both parties in the sale.

Lenders, concerned about liability issues and whether there is a large enough pool of buyers, have often been reluctant to finance condominium construction downtown.

"We think there is quite a deep market for professionals in the financial district who would love to have home where they could walk to work," Tolley said. "It seems to work rather well in every other metropolitan area of the United States."

Urban Pacific Builders is also converting the 92-year-old Security Building at 500 S. Spring St. to 153 units of rental housing, which should be complete by the end of the year.

The Brockman Building was designed for mining financier John Brockman by architect Harrison Albright, who also designed the U.S. Grant Hotel and the original Horton Plaza in San Diego. Donald Alex Barany Architects of Santa Monica will design the Brockman's conversion.

Article Link Here: New Hopes Hung on Building

Editors Note: Urban Pacific sold its partnership interest to West Millenium Homes in 2007.

Stonegate Senior Apartments Available For Low Income Seniors

2003-03-01T15:12:00.000-08:00

Multi-Housing News
March 1, 2003

A 20-unit affordable seniors apartment community in Orange, Calif. was slated for completion in February. Stonegate Senior Apartments was developed on an infill site by a partnership consisting of Urban Pacific Builders, LLC and Orange Housing Development Corporation, a 501(c)(3) nonprofit housing corporation. Simpson Housing Solutions, LLC served as the tax credit equity investor. Total development cost was $6,000,000.

Urban Pacific Buys Airport Parcel for Vertical Housing

2003-02-03T13:57:00.000-08:00

Orange County Business Journal
February 3, 2003

A vacant parcel in the John Wayne Airport area has a new owner after a recent bankruptcy auction.

Long Beach-based Urban Pacific Builders LLC, a developer of urban infill housing, acquired the two acres at Von Karmen Avenue and DuPont Drive.

Urban Pacific paid $4 million for the land and has plans for a high-density housing project on the site, according to a spokesperson with the company.

He said the company is in early talks with architects to draw up plans.

"We're very excited to acquire vacant land in Orange County, which is becoming scarcer all the time," said the spokesperson.

Once completed, the site would become Urban Pacific's second housing project in OC.

The first, Stonegate Senior Apartments, is a 20-unit affordable housing community in Orange. That project is set to be completed by the end of February, according to the company.

The land buy and the Stonegate project are part of Urban Pacific's plans to make inroads in OC. The company, founded in 1999, already has big projects in the pipeline in Long Beach and Los Angeles, and plans to make OC part of its main focus, the company spokesperson added.

Major projects include a 332-unit redevelopment at CityPlace in Long Beach. The project is a combination of apartments and loft condominiums. Another in the portfolio is in downtown Los Angeles-a makeover of the historic Security Building, in downtown's old bank district. Urban Pacific is converting the building to 153 live/work lofts.

Where Urban Pacific bought the land already is home to one vertical housing complex, The Metropolitan condominiums. More are planned for the airport area.

Article Link Here: Urban Pacific Buys Airport Parcel for Vertical Housing

Infill Development Execs Say Urban Deals Are Done With A Different Set of Tools

2003-02-01T17:46:00.000-08:00

Partially Open Long Beach Shopping Center to Hold Ribbon Cutting

2002-11-04T14:15:00.000-08:00

Long Beach Press Telegram - Knight Ridder/Tribune Business News
November 4, 2002

The echoes of hammers pounding nails still reverberate along Pine Avenue.

And stretches of torn up streets continue to divert traffic on and around Pine and Long Beach Boulevard.

The art deco facades of some of the new buildings still have that fresh, "not lived in' look, primarily because they remain vacant.

But those are minor details for Developers Diversified Realty, the Ohio-based developers of downtown Long Beach's ambitious $100 million CityPlace retail shopping and residential living complex.

On Friday, CityPlace developers will cut a ribbon celebrating the grand opening of the project even though a majority of the stores won't be opening until later this month and through December.

Residential condos and apartments are expected to open in 2003.

Units are well under way along Pine Avenue, and after the ribbon-cutting, Urban Pacific Builders plans to break ground on another residential component, a 72-unit CityPlace Lofts condo project near the corner of Fourth Street and Elm Avenue.

Article Link Here: Partially Open Long Beach Shopping Center to Hold Ribbon Cutting

Urban Pacific Receives $1.36m Loan Commitment For Senior Housing

2001-10-01T14:54:00.000-07:00

Multi-Housing News
October 1, 2001

Urban Pacific Partners II, L.P. has received a $1.36 million loan commitment from the City of Orange (Calif.) Redevelopment Agency to build a new 20-unit affordable apartment community for seniors.

CRA Board OKs $19 Million for Downtown Housing

2001-06-22T14:03:00.000-07:00

Business Wire
June 22, 2001

At today's June 21st, Community Redevelopment Agency's (CRA) regular Board Meeting of Commissioners, Peggy Moore, Chair, announced that the Board subject to City Council review and approval, authorized the Administrator, Jerry Scharlin, to execute documents, authorizing the issuance of $19 Million for a multi-family housing project in downtown Los Angeles to Urban Pacific Builders LLC, for financing the Security Bank Building residential conversion project.

Article Link Here: CRA Board OKs $19 Million for Downtown Housing

Urban Pacific Receives New Funding

2001-06-22T08:30:00.000-07:00

Urban Pacific Press Release
June 22, 2001

LONG BEACH, Calif., – Urban Pacific Builders, LLC todaythat the Security Building project recentlyreceived a commitment of $4 million in “Downtown Rebound” funding from theCalifornia State Dept. of Housing and Community Development. East-West Bank hasagreed to provide construction financing for the project, with ARCS, a FannieMae-certified DUS lender, providing credit enhancement for the tax-exempt bondpermanent loan.

Renovations are expectedto begin over the next several months, with completion scheduled for spring2002. Pre-leasing of the lofts will begin in advance of the completion date, aspokesman said. The Security building is just one of the more than 150 currently vacant commercialbuildings in downtown L.A.,constituting a tremendous but under-utilized resource. Many are candidates forconversion to much-needed housing that would enable more people who workdowntown to live there as well, rather than commute long distances.

UPB expects to continuepursuing additional development opportunities in the downtown urban core, saidScott K. Choppin, UPB Managing Member. “Downtown L.A. is becoming one of the hottest realestate markets in the nation. The trend toward adaptive re-use of olderbuildings will have a positive effect on the socioeconomic well-being of thearea and, by extension, the entire city. By enabling more people to live closerto their jobs, we feel this is a prime example of ‘smart growth’ principles inpractice,” Choppin stated. In addition to downtown Los Angeles, UPB is also active in downtown Long Beach, where it is currently developing 69 for-sale loftcondominiums as part of Long Beach’sCity Placemixed-use redevelopment project. The $15 million project – due to be completedin fall 2002 -- represents the first newly-constructed for-sale loft housingever built in downtown Long Beach,according to Choppin.

Headquartered in Long Beach, UPB was founded in 1999 to provide urbanhousing through the development of adaptive re-use, infill, and affordablehousing communities throughout Southern California.Its mission is to offer innovative, high-quality, value-priced urban housing toconsumers, and a solid, secure investment opportunity for investors.

# # # # #

Urban Pacific could benefit from Lincoln's exit as DDR searches for an alternate

2001-03-01T14:33:00.000-08:00

Press Telegram - Knight Ridder/Tribune Business News
March 1, 2001

A Dallas housing company has backed out of the Long Beach Plaza redevelopment project, leaving the lead developer, Ohio-based Developers Diversified Realty Corp., searching for a new partner to build 221 apartments at the former mall site.

Financial concerns were at the heart of Lincoln Property Co.'s withdrawal, a DDR executive said Wednesday.

"They do want to continue on the deal, but with different economic terms than we could agree to," said DDR development director Craig Trottier. He declined to discuss the deal's financial details but said Lincoln was looking for a larger profit margin than DDR's terms would provide.

Lincoln representatives could not be reached for comment Wednesday at their Newport Beach offices.

Lincoln's exit is not expected to delay the $65 million project, called CityPlace. That's because DDR must first build ground-floor retail along Pine Avenue and Fourth Street before any housing developer can build three floors of housing above that retail space.

City officials expressed confidence that DDR would find a replacement housing developer soon. They noted that DDR won't even take possession of some of the property until June, and that housing construction isn't expected to begin until more than a year after that.

"We're not concerned yet," redevelopment bureau manager Barbara Kaiser said.

Housing is an important part of the CityPlace project, in that the new residents are expected to make up much of the project's retail customer base. Apart from the apartments, Long Beach-based Urban Pacific Builders LLC is planning to build 69 condominiums on the former International School site at Fourth and Elm.

Urban Pacific could benefit from Lincoln's exit as DDR searches for an alternate partner. Trottier confirmed that Urban Pacific is among four or five finalists in the search.

Scott Choppin, a managing member at Urban Pacific, said the firm has more experience developing apartments than condos anyway, and that it would look forward to filling Lincoln's shoes.

"It's a great opportunity for anyone," he said.

Trottier said housing developers tend to fall in and out of projects such as CityPlace, and that DDR has no reason to be worried.

"We expect to have another agreement in place within the next 30 days," he said.

Owners of Long Beach Mall Win Partial Approval for Redevelopment

2000-11-20T14:41:00.000-08:00

Press Telegram - Knight Ridder/Tribune Business News
November 20, 2000

...Architects working for Developer Diversified Realty, responding to prior concerns voiced by board members, unveiled plans for street-level stairways leading to lower-level condominiums along Fourth Street just west of Elm Avenue.

But when board member John Gooding asked whether the same street access would be provided for condominiums on Elm Avenue, the architects answered that local residential brokers had persuaded them not to do so for security reasons.

"As a residential developer, one of the primary concerns that we've had with this property is security," said Urban Pacific Builders LLC, which has offices in Long Beach.

Gooding, however, requested that condos on both streets have direct street access. Otherwise, residents and visitors would have to enter through a main lobby or parking garage.

"Personally, I'd still like the units on Elm to have the same access that you have on Fourth," Gooding said.