Our Featured Work
Check out our latest projects.
RESIDENTIAL/COMMERCIAL MIXED USE PROJECT
CREEKSIDE VILLAGE APARTMENTS
64 Residential Units and 10,000 Square Feet of Commercial Mixed-Use Development
Creekside Village is a collaborative project with the community and the former property owner to develop a 64 Residential Unit and 10,000 Square Feet of Commercial Project within the newly adopted Avenue of Flags Specific Plan Area. The project will help to meet the serious demand for multi-family housing in Central Santa Barbara County while providing 15% affordable housing for the community. The commercial portion will be designed and oriented towards the growing high quality food and beverage movement in Santa Barbara County and will avoid traditional retail tenants. The acquisition of the property is covered by an existing cashflow at the property. The project is projected to earn investors a 21%+ IRR and investors will earn a 10% preferred return with a 70/30 split of all remaining proceeds.
RESIDENTIAL/STUDENT ORIENTED HOUSING
The Brandenburg House & Rajah Cottage
Value-Add and Redevelopment Opportunity
The Brandenburg House and Raja Cottage has a deep connection with Isla Vista and the University of California, Santa Barbara community. Built in 1973, the Brandenburg House and Raja Cottage has been home to generations of UCSB students. For the last 26 years, one of UCSB’s most prominent professor’s has held an office in the Brandenburg House as well as classes on the back patio overlooking the coast. MB Development Company, in collaboration with the property owner, has created a joint-venture with a National Science Foundation Award Recipient and Author/ Investor to preserve the Brandenburg House and Raja Cottage as a home for UCSB academics. The project currently houses 13 students.
URBAN INFILL OPPORTUNITIES
Los Angeles T.O.C.
Utilizing Los Angeles City’s Transit Oriented Communities Guidelines to advise on and develop a portfolio of multi-family residential projects under 25 units each.
Qualified Opportunity Zones
Utilizing funds from private equity firms seeking qualified opportunity zone projects to fulfil MB Development Company’s mission to develop housing along California’s Central Coast.