Author Archives: ipgocorp

Bascom Group and Village Partners Form New Venture to Create Urban Infill Multifamily Developments

Posted on by

NEWPORT BEACH, CA – The Bascom Group of Irvine, California and Village Partners of Newport Beach, California announced the formation of a joint venture called Village Partners Ventures, LLC. Village Partners Ventures will target transit-oriented and mixed-use multifamily development opportunities in Southern California with plans to invest $200 million over the next four years.   

Village Partners Ventures will implement its vision utilizing a talented multi-disciplinary development team with a broad understanding of the target demographics and sub-market dynamics. Village Partners Ventures will capitalize on the region-wide shift towards expanding public transportation in Southern California, filling the current market gap in transportation-oriented multifamily development.

The new venture has under contract and is processing entitlements on a six acre transit oriented development site near the I-210 tech corridor in the San Gabriel Valley. The new venture is also negotiating to buy a number of other sites including a smaller transit oriented development site in north Orange County.

“We are excited to be working with Bascom, whose entrepreneurial culture and successful track record of investing in value add multifamily makes them an ideal partner to help do the business plot of acquiring, entitling, and developing multifamily sites in Southern California,” said Don Henry, Principal of Village Partners, Inc. Michael Morris, Principal of Village Partners, Inc., added “We believe the timing is right as many urban infill markets have had limited, if any, new multifamily development resulting in vacancy rates at all-time lows and escalating rental rates due to strong demand.”

Powered by WPeMatico

Sens. Warner & Kaine Announce $160,000 in Funding to Relieve Veteran Homelessness in Hampton

Posted on by

(RECAP: As we head into Independence Day weekend, Sens. Mark Warner and Tim Kaine announced today that HU) and Veterans Affairs (V-A) will award $166,336 to the Hampton Redevelopment and Housing Authority (HRHA) to help homeless veterans find affordable and stable housing. The HUD-Veterans Affairs Supportive Housing (HUD-VASH) program combines rental help voucher programs for homeless veterans administered by HUD with case management and clinical services provided by the V-A. The awards will help with the administrative costs incurred while providing support services for veterans at medical centers and community-based outreach clinics, and decrease the amount of time it takes for a veteran to locate and go into a housing unit.)

Powered by WPeMatico

Historic building in Fan District converted into apartments

Posted on by

(RECAP: A historic structure in Richmond’s Fan District that served as a residence, hospital, law school and office has entered its newest iteration as an apartment building. The three-tale brick Columbia house — with two above-ground tales and one partially underground basement — at the northeast corner of West Grace and North Lombardy streets is now Columbia Apartments. Its first residents go in this weekend. Twenty-three of the 25 apartments are leased. One- and two-bedroom apartments in the newly renovated building range from 410 square feet to 924 square feet. Monthly rents are $749 to $1,399. Historic tax credits were used to offset the cost of renovations.)

Powered by WPeMatico