New Urban Vision utilizes its relationships with faith-based and community-based organizations, brokers, property owners, tenants and other stakeholders to identify and create transit-oriented infill development opportunities. We target properties situated along heavily traveled transportation corridors in urban areas that reflect high population density, concentrated spending power, strategic location and unmet demand for excellent housing and basic retail services. We believe that as local economies continue expanding and population demographics keep shifting away from suburban areas back toward urban core neighborhoods, there will be significant opportunities to reposition underdeveloped properties to serve the growing demand for quality affordable housing and neighborhood-serving commercial space.
Our strategy hinges on leveraging opportunities to either (i) attract strong retail/commercial tenants to occupy properties that we can control, reposition and operate, or (ii) redevelop under-performing assets to create space for mixed-income affordable housing, schools, child care, health care, retail and/or commercial space. Based on the huge amount of retail leakage measured throughout a number of LA-area submarkets and critical shortages of quality affordable housing and healthy food choices in many urban communities, we project that successful execution of our strategy will lead to significant risk adjusted returns over the next 10 to 15 years.
Once a prospective opportunity has been sourced, we apply strict underwriting guidelines to accurately identify each asset's initial valuation and prospective enhanced value and we identify and analyze multiple exit strategies during the origination phase. This approach enhances the opportunity for our projects and investments to be economically feasible, and helps us to deliver an excellent finished product that will enhance and diversify the supply of affordable housing and retail/community services in emerging urban markets. Our most valuable assets have always been our integrity and credibility, and the only standard we use to measure performance is excellence.
New Urban Vision has consulted on the buildout and leasing of space for several charter school projects in Los Angeles, and we have assisted multiple nonprofit owners with the refinancing and renovation of several affordable housing developments. NUV collaborated with Paradise Baptist Church and the Los Angeles Department of Public Works on an innovative project to build a stormwater infiltration basin under the church's existing parking lot (construction commenced in September 2015). NUV also consulted with Alliance Property Group and Tanner Properties on the development of Grandfamilies Place of Phoenix, an award winning 56-unit multifamily development that provides affordable housing for multi-generational families (the project was completed in 2012).