What does an ultra-luxury, seven-bedroom, single-family mansion in the 90210 zip code of Beverly Hills have in common with getting entitlements for an abandoned hospital to turn the site into a multi-family residential property primarily built to provide seniors with affordable housing needs in Queens, New York? At first glance, not much. Yet, the primary common denominator between these two pieces of real estate is the developer, Ilio Mavlyanov, CEO of Jasper Venture Group.
Never Met a Development He Didn't Like
The three-level, ultra-contemporary mansion in Beverly Hills with breathtaking wing-like exterior architecture is a luxury development like no other. The entertainer's paradise has a rooftop bar, wraparound decks off the bedrooms, a full-scale massage treatment facility with its very own hammam, a golf simulator, and a wine-tasting area built into the wine storage area of the home. It's pure luxury.
While the Queens site redevelopment project is the antithesis of luxury, Ilio Mavlyanov purchased the very scary piece of property off the auction block after the property sat unwanted for years and became a blighted site. The prior owners had to close the hospital due to debts and legal issues. The property had to go through various hard-fought-for steps to accomplish rezoning and obtain the ability to build a multi-family property where the hospital stood.
Two Goals, One Developer
Two properties with different goals and development needs, yet one developer successfully brought both to a satisfying end.
Most developers find their niche either on the West or East Coast. They also tend to work on high-end luxury real estate for high-net-worth individuals or stay focused on creating smart, updated developments that will satisfy the community's needs and give homes to those who need them most.
Both properties needed different development styles to be the best they could be.
Diversified Development Missions
With the mansion in Beverly Hills, Ilio Mavlyanov had to deal with public and street work, including bringing utilities such as sewer lines from another street to satisfy the local community. Meanwhile, to fulfill the community's needs, the property in Queens needed way more than street work. Jasper had to hire EPDSCO Inc to prepare an environmental assessment statement for the ULURP program, including noise, transportation, socio-economic studies, and even a shadow analysis to see how the redevelopment in Queens would impact the neighborhood. But the hospital needed a whole lot more love.
Ilio Mavlyanov's main teammates were top real estate law attorneys and experts with the Queens redevelopments with the Queens redevelopment. The expert law team was hired to assist him in the quest to land a rezoning commitment for the property where the hospital once stood. And Ilio Mavlyanov could not stop there, successfully obtaining rezoning to allow the site to be built for future residential use where a portion of the redevelopment would be allocated to senior affordable housing for those who needed it the most.
The Importance of Relationships in Real Estate
Jasper Venture Group called on local council members and other high-powered political officials in the area to support him in his rezoning efforts.
Needless to say, the team member makeup for each development could not have been more different from one another. Yet, both were completed and sold as Ilio Mavlyanov had hoped. The hospital redevelopment was sold to other developers to take care of the vertical development stage. At the same time, the luxury home in the hills of Southern California was purchased by TDE Music (a popular label supporting many artists, namely Kendrick Lamar) CEO Anthony Tiffith. Coincidentally, he had once paid rent for over 300 seniors out of the goodness of his heart.
For the Queens redevelopment site, the plans effectively housed more than 110 families according to the plan by Newman Design Architects, a team of architects brought on to the project by Ilio Mavlyanov during the conceptual design phase. To perfect the design offering for the community, Newman also brought on Smith & Henzy during the rezoning stage, another firm specializing in affordable housing.
When you are moving in the right direction, the world does seem to bring everything full circle. Yet, it is an incredible feat and the work of highly talented development professionals to successfully bring drastically different pieces of real estate to fruition and pass them off to the correct buyer easily.
From high-end luxury homes in Beverly Hills to affordable senior housing built from an old hospital for the community of Queens, New York, Ilio Mavlyanov and Jasper Venture Group have a uniquely diversified portfolio of completed properties on both coasts.
