“We’re really looking at it to become about the culture of who we are,” he said.
The innovation of an engineering firm known for consulting on development projects coupled with the real estate knowledge of long-time multifamily executives created a new company that will focus on catering to residents who want to live within walking distance to work and transit.
Psomas, a Los Angeles-based engineering company, announced the launch of Micropolitan, a new company focused on purchasing and developing apartment buildings with supreme walkability for residents.
The new company, which will also be headquartered in Los Angeles, plans to take on between three and five new projects each year, Micropolitan President Larry Kruger said.
The projects will be in Southern California communities and will include purchases, renovations and ground-up construction to reduce resident’s dependency on auto transportation.
“We feel that a lot of the things we are looking for, at a development standpoint, is being able to locate people where they can be available to their lifestyle on a day to day basis without having to get into a car,” Kruger said.
The concept also aligns with the parent company’s foundation of being environmentally friendly.
While cities sometimes encourage developers to be involved in transit-oriented types of projects and offer incentives, that’s not the motivation behind the company.