To maintain its momentum as a leading developer of multifamily affordable, market-rate and student housing in California, Texas and Washington, AMCAL’s land acquisition staff is constantly in the field sourcing, vetting and purchasing suitable properties. Knowledgeable and well-connected real estate brokers help us identify properties that work with us. We value our relationships within the brokerage community and work with brokers in both on- and off-market transactions.
Generally, we purchase properties with appropriate multifamily residential zoning but we will consider sites that are not zoned if they meet our site criteria. Over the years, we have been successful at securing more complicated entitlements when required, but we are also interested in sites that are already entitled.
We are also interested in acquiring expiring tax credits apartment projects as well as market rate-apartment communities over 150+ units.
We usually make fee-simple purchases but we also will consider joint ventures with landowners and long-term ground leases.
Affordable Housing Site Criteria:
- Urban infill districts
- Suburban / On Grade Sites
- Appropriate zoning
- At least one acre and up to 20 acres
- Accommodate a minimum of 80 apartments
- Infill neighborhoods, ideally near transit, jobs and walkable to shopping and services
- Transit Oriented Development (TOD) is highly sought
Student Housing Site Criteria:
- Appropriate zoning
- Walkable (within 1/2 mile or less) to university campus with 10,000 students or more
- Two Acres up to 15 acres
- Accommodate a minimum of 150 apartments
Market-Rate Multifamily Housing Site Criteria:
- High-density residential zones
- One acre up to 20 acres
- Accommodate a minimum of 150 apartments
- Infill neighborhood, ideally near transit, jobs and walkable to shopping and services
- Suburban neighborhoods, with amenities
The AMCAL Advantage: AMCAL Equities, LLC, can close escrows quickly and efficiently, often without outside partners.
AMCAL has the ability to close deals on land without any financial partners and/or all of our land and entitlement pursuit costs are funded by AMCAL and not financial partners.