Written in Partnership with Amir Bakian
With the city’s popularity continuing to escalate, Los Angeles has entered a full-blown housing shortage. Being the largest city in California, Los Angeles is consistently challenged with catering to the increasingly unaffordable housing needs of its residents. MIDOS Development Group is an LA-based real estate development firm that is doing everything it can to help close the housing gap, by providing affordable housing for all income groups. MIDOS has three unique capabilities that help mitigate and combat the housing shortage, which creates value for the LA real estate market.
MIDOS Development Group is a development firm that is focused on building apartment buildings. Since its inception five years ago, the company has preserved the affordable element in all its projects, by keeping a predetermined number of residential units at a lower market rate, allowing members of lower income groups access to affordable housing.
Co-founders David Hirsch and Joseph Fine started the MIDOS Development Group to help combat the housing shortage in Los Angeles, and bring investment opportunities to real estate investors. Since then, the company has constructed and developed over 500 properties, providing housing to hundreds of families in LA.
Apart from retaining the affordable element in all the projects, the firm works hand-in-hand with two sister companies that are able to uniquely combat the housing crisis. MID Construction is a subsidiary construction company that offers full-service commercial and multi-family construction. In addition, given the alarming challenge the LA populace faces, a third entity was created, Fast ADU, a company focused on building accessory dwelling units, or ADUs, an increasingly popular, lower-cost housing option, and has been able to do so at scale. This secondary construction company provides secondary housing units on a single-family residential lot, something of interest for both homeowners and multi-family property owners.
MIDOS, as a development group, has successfully created value for its partners. The company is regarded as one of the best local development firms, due to its customer-centric approach, and unique ability to develop and build using in-house teams created throughout its years in multi-family renovation.
MIDOS not only survived but thrived during the pandemic, because of its unique in-house labor pool that challenged the status quo within the real estate industry. While other companies that were highly dependent on subcontractors collapsed due to the near non-availability of labor, the growth of MIDOS skyrocketed. As a result, the firm completed its construction and development projects within its deadlines, while being able to keep the price point reasonable.
MIDOS Development Group aspires to become the premier developer in Los Angeles while staying true to its vision of combating the housing shortage. The company looks forward to driving more value for its clients while adapting new measures to sustain its consistent growth in the coming years.
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