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Street-level rendering of a LEFT Development project entrance

Strategy

Disciplined by design.

Investment Thesis

Multifamily, in the path of progress.

LEFT Development focuses on multifamily development and investment in growth markets, selecting sites in the path of progress.

For each project we select the product type and design that provides strong investor returns while hedging downside risk, and we work only with the best-in-class people and companies in each market and discipline.

Market Strategy

Three filters every deal must pass.

01

Growth Markets

Develop in markets where economic trends support long-term population growth, employment depth, in-migration, and supply constraints that hold across cycles.

02

Urban Infill & Edge

Locations in downtown cores to the urban edge that capture the opportunity from being in the path of progress, before the broader market prices it in.

03

Best-in-Class Team

Work with the best people in each discipline to ensure project success for all partners, and build relationships designed for repeat business.

The Development Process

Five stages. Institutional standards at each.

01 Market & Site Selection Quantitative screening of population, employment, and supply trends, then block-by-block site work to find locations in the path of progress.
02 Financial Underwriting & Risk Analysis Every assumption is stress-tested: land basis, construction cost, rent comps, financing structure, and exit. We evaluate every investment from every angle.
03 Due Diligence & Reports Environmental, geotechnical, title, and entitlement diligence completed to institutional reporting standards before capital is committed.
04 Pre-Development & Pre-Construction Zoning, entitlements, design development, and guaranteed-maximum-price contracting, de-risking the project before ground breaks.
05 Development Execution Hands-on construction management and reporting through delivery, lease-up, and stabilization, with the same rigor as day one.

Complex-Deal Capability

Finding opportunity where others see risk.

Our experience includes projects with brownfield and environmental cleanup, utility and railroad easements, payments in lieu of taxes, tax-increment financing, redevelopment plans, zoning entitlements, and workouts. Complexity is often where the value is.

Brownfield Remediation Zoning & Entitlements PILOT Structures Tax-Increment Financing Utility & Rail Easements Redevelopment Plans Workouts
Aerial view of a LEFT Development community

From Idea to Execution

Strategy is only as good as its execution.

See the strategy at work.

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