All posts tagged: new construction

The Rise of the Small Lot Subdivision

As the price of land soars ever higher here in California, city planners and developers are turning to novel solutions to maximize housing development on small lots. Having just navigated the sale of a 3-lot parcel in Los Angeles to a large multiunit developer, I know how complex and how rare it is for developers to be able to secure multiple parcels of land in a row in highly desirable neighborhoods. In fact, on the block where we sold 3 duplexes, a 4th owner held back, resisting the opportunity to sell. As a result, this one duplex property will be sandwiched between two large multistory apartment complexes…and its future resale value will likely decrease, due to the loss of privacy and increased density on both sides. The City of Los Angeles has made the opportunity to build multiple homes on small units a more efficient way to generate the greatest utility/value for these small lots. The original law passed in 2004 has helped small lot developers like Modative and Minaret to provide new housing in …