Shopoff Realty Investments and the Urban Pacific Group of Companies have formed a joint venture to further advance Urban Pacific’s multi-generational housing concept, the Urban Town House (UTH). The JV raised $10 million in investor capital to complete entitlements on several UTH projects that will be developed through a series of workforce housing private equity funds.
Scott Choppin, founder and CEO of Urban Pacific stated: “The unique three-story, five-bedroom, four-bathroom floorplan for our UTH developments is designed to capture the ‘forgotten middle’, or deeply underserved multi-generational households. This provides an affordable per bedroom cost option for today’s working middle class families.”
Focusing on Southern California markets, these developments will range from 40 – 150 units with lease rates averaging between $3 700 – 4 500 per month. Pictured below is an example development located in Fullerton CA.
