The dignity of a home in the community you love at an affordable price.
FNX Development fulfills this goal through innovative and efficient design, streamlined construction, and use of green materials to create financially accessible homes that are also highly functional and stylish.
About The Company
FNX Development is a real estate development and investment firm with a mission to create impactful housing solutions for low-income individuals and essential workers.
FNX Development is deeply rooted in Los Angeles. Our principals have been a part of the local multifamily property landscape since the 1990s. They are heavily invested in creating quality housing serving low-income households and the city's essential workforce by enhancing older properties with deferred maintenance. FNX’s principals realized that this niche provides for strong and evergreen demand that is protected from market and economic fluctuations.
FNX Development handles all aspects of real estate development, including sourcing and acquiring properties, obtaining necessary approvals, obtaining funding, managing construction, leasing and management of assets. Accredited investors have the potential to earn greater returns through non-active investment in our real estate development projects while also making a positive impact on the availability of affordable housing.
FNX Delivers Value
At the heart of every FNX Development is the value creation process. Having developed a strong niche in the value-add multifamily market, the principals of FNX understand that innovative design, extreme functionality, and aesthetics matter as much to our budget conscious residents as they do to occupants of luxury properties.
By combining standardized construction design to create efficiencies in development with high quality materials and finishes, FNX delivers a long list of features tenants desire while maintaining tight control over construction, management and operational expenses.
FNX Development project construction costs are less than half the standard for Los Angeles supportive and affordable housing averages, while being able to deliver a higher quality product in locations close to urban amenities such as transportation, jobs, shopping, and entertainment.
FNX Social Impacts
The deficiency of affordable housing availability in Los Angeles has hit crisis levels, resulting from long-running failures to build enough housing to match rising demand, and impacting all socio-economic levels of residents.
FNX Development is playing a part to provide at least 2,000 new premium quality affordable housing units to Los Angeles residents by 2028.
FNX Development projects are also strategically designed to provide solutions towards environmental issues. Located in highly walkable locations with excellent access to public transportation, FNX projects provide for easy access to employment and day-to-day activities without the need for a car or long commutes Our properties are all-electric with solar features, utilize wood-frame construction, and locally sourced and manufactured materials where possible.
The FNX Development Leadership
FNX Development was founded by Hooman Ghaffari, Jason Michaels, Bentley Richards and Joumana Nasser. With a combined 80 years of experience in the commercial real estate industry, our leadership has expertise across multiple property sectors, focused on ground-up development, value-add multifamily renovations, and long-term apartment holdings. Collectively, we have completed over $1.3 billion in transactions and have overseen a portfolio of over $114 million in assets.
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