VF Developments Completes Renovations and Begins Lease-Up on Historic 1920s Spanish Style Multifamily Community in Santa Ana, California's Opportunity Zone

News provided by

Dec 19, 2022, 17:17 ET

SANTA ANA, Calif., Dec. 19, 2022 /PRNewswire/ -- VF Developments, LLC, a minority and female owned and run company, has reintroduced a historic 1920's built Spanish Villa style eight-unit multifamily community property to the revitalizing Downtown Santa Ana market in Orange County after completing major renovations.

VF Developments, LLC, in joint venture with a private investor in August 2020, acquired the Santa Ana multifamily property located at 1524-1530 North Sycamore Street, Santa Ana, California with the plan of repositioning and adding capital improvements to bring back its original 1920s glamour. Originally built in the "Roaring 20s" in 1929, VF Development's improvements included enhancements to exterior redesign to accentuate the Spanish revival style architecture. These improvements included new iron work, landscaping makeover, major roof renovation with authentic red clay barrel tile roof on the property, beautiful tiered fountain in the courtyard, newly painted white stucco and high contrasting expresso trim, completely restored and upgraded interior finishes, as well as new electrical and plumbing with central heating & cooling system.

Rancho Cucamonga based TriWest Contractors completed the stunning renovations for the ownership group and Los Angeles based Drake Real Estate Group will provide property management and leasing services.

1524-1530 North Sycamore Street, located in the heart of Santa Ana's historic Willard neighborhood features two side by side, four-unit, two-story low-rise buildings with Santa Barba style architecture. Residents of this gated community will enjoy a calming water fountain in the courtyard, private entryways to each unit, balconies, red tile roofs, and dedicated remote-controlled garage parking.

Anthony Garcia, owner of TriWest Contractors, noted, "Since the buildings were Santa Barbara style, an architectural and interior design style derived from Mediterranean and Spanish-revival architecture, we decided to enhance the deep red tones and polished wood textures that contrast with vibrant white walls."

Victoria Vu, a renowned designer and managing partner of VF Developments, LLC and formerly a leading Halloween costume designer, carefully designed and restored the rental homes. These 1920s vintage luxury rental homes feature keyless entry door locks to spacious one bedroom and two-bedroom floor plans with arched entry ways to newly renovated kitchen and bathrooms. The kitchen boasts sparkling white stone quartz countertops with brand new self-closing cabinetry and high-end Samsung stainless-steel refrigerators with matching gas cooktop with oven and microwave. Stacked washer and dryers included inside each rental home with porcelain tiled bathtubs and glass shower doors and separate guest bathrooms. Each rental home also includes central A/C cooling and heating with recessed lights with luxury style interior finishes and distressed wood plank floors.

Victoria Vu commented, "Since the property was built in 1929, our goal was to reimagine the original architect's intentions and upgrade the community to today's modern market by bringing back the life it had in the "Roaring 20s" or "Jazz Age" - it was a decade of prosperity and dissipation, and of jazz bands, bootleggers, raccoon coats, bathtub gin, flappers, flagpole sitters, bootleggers, and marathon dancers. We are also proud of this renovation as it's a prime example of the benefits of the Opportunity Zone program. All of our employees, vendors, and contractors are locally based minorities and women owned and run companies that came together to improve the buildings and the community and create jobs".

This building, located in a Qualified Opportunity Zone (QOZ), has major attributes that includes its proximity to the best of what Santa Ana has to offer. These include the Bowers Museum, Main Place Mall with city approved $300 million remodel planned, Orange County School of the Arts, The Discovery Cube of Santa Ana, The Santa Ana Zoo, and 4^th Street Market. Minutes off the 5 Freeway on the 17^th Street exit and nestled in the historic Willard area of Santa Ana and adjacent to French Park - an area known for its Victorian homes. The community is minutes to Downtown Santa Ana - the rapidly gentrifying area known for its eclectic eateries and elevated dining, fantastic night life, shopping and a host of other activities. Downtown Santa Ana, also called Downtown Orange County, is the historic city center of Santa Ana and the county seat of Orange County. It is the institutional center for the city of Santa Ana as well as Orange County, a retail and business hub, and has in recent years developed rapidly as a regional cultural, entertainment and culinary center for Orange County.

About VF Developments: VF Developments, minority and female owned and run company, has acquired over $69 million in multifamily properties since 2015 totaling 39 properties and 242 units. VF Developments strives to provide neighborhoods in gentrifying areas of Los Angeles and Orange County Class A building design finishes at accessible and affordable market rents to future tenants. VF prides itself with the opportunity to create modern living to add value to its communities. With properties ranging from condominiums to multifamily residences in gentrifying areas throughout the greater Los Angeles area and Orange County region. VF manages a multitude of processes including finding unique, off market opportunities, syndicating properties, overseeing renovations, and using unique architecture and interior compositions transforming distressed properties into contemporary, market-ready homes and apartment communities. VF seeks value add investment opportunities and creates significant value for clients and investors. VF Developments is an entrepreneurial company specializing in acquiring, renovating, and managing multifamily properties in Los Angeles and Orange Counties. The company targets under-performing and mismanaged multifamily properties in gentrifying areas of these counties. VF also completes significant renovations that modernize and transform dated properties into cutting edge, high quality, best in class living environments - ultimately creating substantial value enhancement for its investors.

Victoria V. Vu
[email protected]
310.901.1189

SOURCE VF Developments, LLC