Commitment to Responsible Development | December 2024
Integris Real Estate Investments’ parent company, Shopoff Realty Investments, they prioritize responsible development as a key aspect of their business strategy. Responsible development is not merely a goal but a necessity, particularly in the United States, where much of the land use, housing, and community planning relies on private initiatives. Developers play a critical role in addressing these challenges with increasing demands for affordable housing, sustainable practices, and community-driven designs. At Shopoff, they focus on projects designed to align with values of equity, sustainability, and community benefits.
One example of this approach is the Magnolia Tank Farm project in Huntington Beach, California. This 29-acre mixed-use development includes over 200 for-sale single-family homes, a 215-key boutique hotel, retail spaces, 51 affordable multi-family housing units, and 54 affordable hotel accommodations. This innovative approach provides essential housing options for the local workforce, fostering housing stability and aims to reduce commute times for hospitality workers.
Another project addressing diverse housing needs is the Uptown Newport development, located within the Uptown Newport Planned Community. This Master Plan spans 25 acres and is entitled to up to 1,244 residential units, including community parks and retail spaces. Phase I features 458 apartment units, of which 94 are affordable, alongside the 30-luxury Parkhouse Residences, another 60-unit for-sale project, and a 1-acre community park.
The SB Nordstrom project in Santa Barbara, California, is planned to include multi-family residential units. Current plans propose the development of 112 residential units, including 12 affordable units, aligning with the community’s housing goals while transforming an underutilized retail space.
The Fountain Valley project is another example of responsible development. This 18.6-acre site will include 183 three-story townhomes, 36 two-story attached triplexes, and a 4-acre parcel designated for 383 apartment units, with 81-unit stand-alone senior housing affordable building. This project is well-positioned to address the growing need for diverse housing options in the area.
Lastly, the Buena Park project demonstrates their focus on revitalizing underutilized spaces while addressing housing demands. The 13.75-acre property, currently occupied by industrial buildings, is planned for redevelopment into 229 for-sale residential units, with more than 50 affordable units included.
Responsible development is essential in addressing the growing demand for affordable housing and sustainable communities. By integrating affordable housing units into their projects, they aim to provide housing options that meet the needs of various income levels. This approach supports community stability and contributes to the economic health of the regions they serve.
Disclosures
The information provided in this update is for informational purposes only and pertains to the activities and projects of Shopoff Realty Investments, L.P. and its affiliates (or “third-parties”) that may be unrelated to any investment offerings by Integris Real Estate Investments.
Forward-looking statements. Certain statements contained herein may constitute “forward-looking statements” and reflect current project goals and anticipated outcomes, which are subject to change based on market conditions and regulatory requirements. Affordable units represent a portion of the overall housing projects and are allocated based on project plans and community needs. Prior performance is not indicative of future results. There is no assurance that future projects will achieve comparable results. This is not an offering to buy or sell any securities. Such offer may only be made through the offerings memorandum to qualified purchasers. Any investment in Shopoff programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. There is no assurance that any strategy will succeed in meeting its investment objectives. The performance of this asset is not indicative of future results of other assets. Securities are offered through Shopoff Securities, Inc., member FINRA/SIPC, 18565 Jamboree Road, Suite 200, Irvine, CA 92612, (949)-417-4307.
