IHP Capital Partners and Williams Homes Form Joint Venture for Development of Small-Lot Residences in L.A.'s Valley Village Neighborhood
In a strategic move to bring much-needed housing to the Los Angeles region, IHP Capital Partners and Williams Homes today announced a joint venture for the development of 26 small-lot residences in the Valley Village neighborhood of the San Fernando Valley.
The soon-to-be-named community will take shape on an in-fill site close to employment centers of the San Fernando Valley and downtown Los Angeles and will feature three-story detached homes designed by the highly acclaimed WHA Architects. The residences will range from 1,173 to 2,079 square feet with up to four bedrooms, three- and one-half baths and two-car garages. A Grand Opening is anticipated for early 2021 and prices are expected to start in the $800,000s.
"We've had great success in working with Williams Homes in the past and they understand the San Fernando Valley market as well as any homebuilder in the industry," said Jeff Enes, Senior Vice President for IHP. "The Valley Village project exemplifies the Williams and IHP strategic partnership, that is, delivering innovative housing within attractive settings in jobs-rich and supply-constrained locations."
Valley Village is located 14 miles northwest of downtown Los Angeles and offers a central location, desirable neighborhood setting and accessible public transportation to the future homebuyers of this new-home community. The property is less than one-quarter mile from the Metro Orange Line Laurel Canyon Station and is less than one mile from three major freeways, allowing easy access to all parts of the San Fernando Valley, Hollywood, Burbank, Glendale and downtown L.A. Future residents will also enjoy "walk scores" and "bike scores" that are higher than most of the new-home communities currently selling in the Valley Village area.
"Continuing Williams Homes' decade long relationship with IHP Capital Partners, we are excited about the opportunity to bring Valley Village 26 to Los Angeles," said Lance Williams, President of Williams Homes. "Combining best-in-class capital with the best-in-class builder in the most undersupplied housing market in the nation is what Valley Village 26 is all about. We expect the combination of great product and execution will result in continued success delivering homes to Los Angeles families."
About IHP Capital Partners
Founded in 1992, IHP is one of the nation's largest investment firms providing equity financing for residential real estate development. The firm invests institutional capital in residential real estate projects throughout the western United States. IHP and its partners have created neighborhoods and communities valued at more than $20 billion. IHP's experience helps to maximize project value through recommendations in product design and segmentation, pricing strategy, marketing, development and operational fine-tuning. For more information visit www.ihpinc.com.
About Williams Homes, Inc.
Since 1997, privately-held Williams Homes has given thousands of Californians a unique place to call home ? all with a hope and dream to accomplish great things for themselves and their families. While a lot has changed in 20+ years ? from building codes to how people shop for new homes ? what hasn't changed is more important. From the first neighborhood that Williams built to the homes the company offers today, the commitment to excellence has never wavered. The possibility for a better way of life continues to be the driving force that nurtures the company's continuing evolution. For more information visit www.williamshomes.com.
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