Key Deal Facts
Experienced real estate developer. Scott Choppin is a highly experienced developer, with a strong understanding of issues that may arise in the cycle of development and the ability to form a comprehensive risk mitigation plan.
Undersupplied rental market. There is little competition in the market. Urban Pacific may be the only company building new units to rent to multi-generational families that include five bedrooms, and a ground floor bedroom/bathroom combination and that live like a single-family home.
Declining land and construction pricing. Land values in the Long Beach areas have declined between 8-15% and Urban Pacific anticipates that subcontractor pricing will be reduced by 10-30% as well.
Close to job markets and transportation. Urban Pacific avoids risk by locating in neighborhoods that are close to job centers and public transportation.
Simple construction design. Urban Pacific eliminates complexity in design to avoid the risk of unexpected construction costs. The UTH model employs a construction process similar to production homebuilding companies, building a simple 3-story slab-on-grade building and utilizing long-term trusted subcontractors.
Simplified zoning. Urban Pacific avoids entitlement risk by purchasing land sites that are “use by right”. This means there is no time lost in applying for zoning permits, and this can mean a significant time savings.
Efficient build and lease up schedules. Construction is typically completed in under 6-9 months, reducing exposure time to market. Total investment periods are generally between 16-24 months.
Management Team / Advisory Board Bios
Scott K. Choppin is the Founder of Urban Pacific where he oversees all operations including business development, capital acquisition, and strategic planning. Scott is a veteran of the real estate development business, and a specialist in the development of high-quality urban housing projects throughout the Western United States.
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. Scott is also a published author in the real estate development field, and 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.
Prior to forming Urban Pacific, Scott was Director of Land Acquisition for the Multi-Family Development Division of Irvine-based Sares-Regis Group. In that position, he was responsible for all land acquisition activities for the development of luxury, market rate and senior rental communities throughout California, Colorado, and Arizona.
Before joining Sares-Regis, Scott was with Kaufman and Broad Multi-Housing Group. As Senior Project Manager, he was responsible for all activities related to multifamily development, including the acquisition, entitlement, syndication and development of over 1,900 affordable multifamily units throughout the Western United States.
Scott holds a degree in Business Administration with a specialization in Finance from California Polytechnic State University (Cal Poly), San Luis Obispo.