ANAHEIM, Calif., Dec. 14, 2017 /PRNewswire/ -- A joint venture between Shopoff Realty Investments and Argosy Real Estate Partners announced today that its proposal for the East South Street project has been approved by the City of Anaheim Planning Commission. The project involves demolishing an industrial site at 901 E. South St. in Anaheim and re-entitling the property for 546 residential units in its place. This will be Shopoff's third land development in the city of Anaheim.
Situated on 20.56 acres of land, the project will include: 314 one-, two- and three-bedroom apartment units; 160 attached, for-sale single-family homes ranging from two to four bedrooms; and 72 detached, for-sale single-family homes with three bedrooms.
"This project serves as an opportunity for our firm to develop high quality residential housing in a growing submarket in Southern California," said Shopoff Realty Investments Chief Executive Officer William Shopoff. "The pent-up demand for multifamily product in the area positions the asset for long-term growth."
The property, which is located in the Anaheim Colony area, is strategically located less than one mile from the Anaheim Packing District, offering residents walking access to a communal gathering place with more than 20 artisan eateries.
John Santry, executive vice president of Shopoff Realty Investments' Land Division added, "The overall community will feature high-quality amenities, including multiple swimming pools, a spa and clubhouse, a fitness center, dog run, outdoor seating, barbeque areas, a playground, roof top decks and private balconies as well as patios."
About Shopoff Realty Investments
Shopoff Realty Investments is an Irvine, California-based real estate firm with a 25-year history of value-add and opportunistic investing across the United States. The company primarily focuses on proactively generating appreciation through the repositioning of commercial income-producing properties and the entitlement of land assets. The 25-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group). Performance has varied in this time frame. For additional information, please visit www.shopoff.com or call (844) 4-SHOPOFF.
About Argosy Real Estate Partners
Argosy Real Estate Partners specializes in opportunistic investing in multifamily, commercial, lodging and residential opportunities throughout the United States. Argosy partners with experienced operating partners to create value through the acquisition, development, repositioning, and/or recapitalization of real estate assets. For additional information please visit www.argosyrealestatepartners.com.
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 Realty Investments 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 to meet its investment objectives. Securities offered through Shopoff Securities, Inc. member FINRA/SIPC, 2 Park Plaza, Suite 1120, Irvine, CA 92614, (844) 4-SHOPOFF.
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SOURCE Shopoff Realty Investments