MIDOS Development Group’s Innovative Approach To Aiding The LA Housing Shortage
It’s no secret that Los Angeles is one of the most popular cities in the world. Famous for its opportunities across a myriad of industries and combined with its rich history, bustling art, and food culture, it’s a competitive environment to find housing. For LA natives and transplants alike, finding affordable housing has become more and more difficult, especially for those in disadvantaged groups.
Enter MIDOS Development Group, a tight-knit team of real estate development and construction experts taking on the challenge of expanding access to affordable housing across a variety of areas in LA. They’ve successfully found a process for offering ground-up built and rehabilitated properties that have helped hundreds of families across all income levels find suitable housing.
The challenge for the majority of real estate development groups is their limitation of needing to rely on third-party general contractors and subcontractors, which makes their costs higher, development progress slower, and limits their flexibility in both schedule and budget. That’s where MIDOS’s unique approach is differentiated. Their subsidiaries, MID Construction and Fast ADU, each tackle a specific limitation that impacts other LA development groups’ ability to maximize their efficiency and scalability in creating properties.
MID Construction handles a range of commercial and multi-family property developments. Using their majoritively in-house construction contractors, they’re able to ensure quality, more reliable timeline accuracy, and fewer cost fluctuations when compared to subcontractor-reliant construction and development companies.
MIDOS Development Group’s expansion will initially be targeting the fast-growing neighborhoods in Koreatown, Silver Lake, Echo Park, West Adams, Culver City, and Palms. Each area’s cultural makeup and unique individual social and economic challenges are taken into account so that a comprehensive housing opportunity can be created for both natives and for those newly relocating.
The second sister company to MIDOS Development Group is Fast ADU. With a focus on building ADUs or accessory dwelling units to primary structures, a housing option rapidly becoming more sought after. They’re more cost-effective and can be produced at scale by the Fast ADU team. ADUs are also able to be added as secondary single-family units to both multi-family and single-unit family properties helping to maximize the use of space.
Growth & Optimization
Over the course of half a decade, the MIDOS Development Group has successfully launched and completed over 500 projects. They’ve built, renovated, innovated, and optimized their approach as they attempt to scale their efforts largely in part to the combined vision of its two founders.
Constantly finding new ways to be more efficient across financing, purchasing, and research with a focus on discipline and relationship development with both their customers and investors, their profitability and success rate have increased each year.
As they move into more targeted areas, their goal is to make an impact and continue to make housing affordable and open opportunities for their customers whilst providing the best returns for their investors.