There was a great story in the L.A. Times this week about the contunied heavy pace of mega-masions being built in Bel-Air Beverly Hills and Homby Hills. The continued strength of the ultra-luxury market in Los Angeles is something that I've talked about repeatedly in this space in the last year as it's been noticed by myself and others that work with luxury homes.
If you missed it, here's my previous posts about this topic:
- The Real Story on Luxury Housing in L.A. -- Part 1
- The Real Story on Luxury Housing in L.A. -- Part 2
- Off-Market Mansions in L.A.
- L.A. Market for $10 million+ homes
Those of you who know me well know I've been working with an experienced mega-mansion builder to put together a mega-mansion development. We have targeted the land and planned out the development. It's an incredibly conceived project. But given the current economic environment, it's been difficult finding an additional equity partner even for an experienced developer.
That said, there are many ways for a possible JV partner to come into this project. It could be simply as an equity partner. Or it could be someone who simply wants to build one of these homes, but instead of building a home just for themselves, they can leverage the dollars they'd be putting into their own house into several others and make a substantial profit. Either way, it's an opportunity to be a part of the most incredible luxury housing projects in the city's history and invest in one of the only still-strong segments of the housing market.
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