Investing in neighborhoods that are undervalued, in a current growth stage, and have complementary development projects in the surrounding areas.
Company ProfileLa Cité Development, LLC is a real estate development corporation investing in strategic real estate ventures throughout the eastern seaboard, as well as specific markets elsewhere in the United States and abroad. The predominant focus of La Cité’s interests is on residential and mixed-use properties spanning from rehab to new construction, with investment primarily being placed within the residential marketplace.
Our ApproachLa Cité's corporate philosophy embraces investment in neighborhoods and communities that have been largely overlooked or neglected, and promotes development projects that contain affordable housing components in neighborhoods with an identified need for revitalization and the creation of modern housing stock and progressive infrastructure.
Exercising a thorough and exhaustive due diligence of all projects undertaken for development to ensure that the full feasibility and risk assessment of the project has been examined.
Utilizing low interest rate loans.
Utilizing a team of well seasoned architects, attorneys, and contractors who are capable and have an established track record of exceptional performance.
Minimizing acquisition costs for properties by investing in a portfolio that balances HPD, HUD, and government or city disposed housing stock with a select number of open market property acquisitions;
Limiting cash flow risk by hiring exceptional property management companies to ensure the long term viability of the investment by maintaining a vacancy rate of less than 5%;
Taking advantage of city based tax abatement programs. These tax abatement programs will allow La Cité to take advantage of a 15 to 20 year tax exemption allowing the projects to cash flow more than anticipated;
Taking a substantial equity position alongside investors in all development projects, meaning that La Cité Development and the company’s partners are directly participating in the risks and thereby ensuring that the utmost measures have been taken to deliver optimal investor returns.