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Multifamily: Demand Soars for Amenities, Tech

10.07.2019

Sean Burton Headshot

Sean Burton, CEO, Cityview

Cityview was founded in 2003 and has generated more than $4 billion in investment across more than 100 projects.

What do you look for in a development opportunity?

Our goal is to build housing in a way that makes sense. We look at where people want to live and how they want to live and create a product that fills their needs. Accessibility to jobs, culture, restaurants and transit is critical. We also look at construction type, unit finish- es, unit sizes and amenities to determine what will be attractive to the market and at what price point.

What submarkets are hot now?

There are several hot L.A. markets, including HiFi (Historic Filipinotown), Culver West and Highland Park for value-add. We also think Marina del Rey is interesting because of its proximity to Playa Vista, the new development going on there and the value-add deals we are starting to see trade. The West Adams area is also transitioning.

What is the most interesting project you are working on now?

We are in predevelopment on two sites in opportunity zones, one in Los Angeles and the other in Oakland. We saw this legislation evolve over the past two years and tracked

it closely, so it is exciting to actually get to apply it to a physical project. Opportunity zones present a unique opportunity for us to do what we do: develop multifamily assets in markets we believe in, but with a new base of investors.

Author: Hannah Madans

Originally published in LABJ