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Scott Choppin is the founder of the Urban Pacific Group of Companies, a Long Beach, CA based real estate development company. Founded in 2000, Urban Pacific focuses exclusively on urban infill and affordable housing communities throughout California and the western US.
Over the last 18 years, the company has developed nearly 1,700 units of unique to market urban housing communities throughout the Western United States. Urban Pacific is currently focussed on a new housing innovation of their creation, called UTH (Urban Town House) workforce housing. UTH provides middle income multigenerational housing to urban families, while producing market superior yields on invested equity. Historically these projects have delivered 29% IRR yields on equity.
With over 35 years in the development business, Scott is a leader in the field, and has been a speaker at the International Builders Show, the Pacific Coast Builders Conference, SoCal BIA’s BIS Show. As well, Scott is a published author in the real estate development field, and is a regular contributor to major media outlets throughout the nation having been published or quoted in Forbes Magazine, Los Angeles Times, Long Beach PressTelegram, GlobeStreet, Builder Magazine, Affordable Housing Finance, Affordable Housing News, and most recently, the cover and feature article in MultiFamily Executive magazine.
Listen in to hear more about the way this contrarian developer thinks about bringing housing products to the marketplace.
Insights and Inspirations
- Scott reminded us all that subsidy is finite, so building market rate solutions for the housing crisis is an imperative.
- He is methodically bringing a new workforce housing product to market.
- He noted that the 50s era household in the US (a suburban home, with mom, dad, 2,3 kids and 5 cars), was an anomaly. We need to get over it!
- And I love that he is showing that a much needed and affordable housing model can be financed through private equity.
Information and Links
- Scott is watching this series of contrarian investment frameworks from RCLCO
- America needs 4.6 million more apartments in the next 11 years.
Image courtesy of Urban Pacific