We provide consulting services to developers with affordable housing requirements. We are acknowledged experts regarding the California density bonus statute and frequently utilize the provisions of that statute to mitigate the impact of affordable housing requirements. [ density bonus article]
Mr. Tom Sakai is among the most seasoned land development finance professionals in California. He has over 30 years of direct experience dealing with major land developments in California in other states.
Mr. Sakai's experience includes eight years with Rossmoor Corporation, the developer of Leisure World retirement communities, three years as the Vice President-Finance for a major Southern California homebuilder, and twelve years as the Senior Vice President - Finance for the land development operations of The Irvine Company. His responsibilities have included preparation of development proformas and financial analyses of development and financing alternatives for some of the most well-known real estate developments in California, including the Newport Coast, Tustin Ranch, and Westpark planned communities on the Irvine Ranch as well as communities in the Inland Empire, Los Angeles County, Utah and Illinois.
Mr. Sakai's expertise includes the preparation of financial proformas for current and future development projects. These proformas will typically include calculations of the estimated land residuals from sales to merchant builders, cash flow projections, and investor return calculations. He has worked on proformas for projects ranging from less than 100 to over 10,000 homes with an array of products ranging from low density custom lots to high density infill products and a product mix including retail, office, industrial, golf course, and hotel components.
Mr. Sakai is uniquely qualified regarding the impact of assessment districts, Community Facilities Districts and similar public financing districts on financial proformas. The utilization of those types of public financing districts will have significant impacts on development proformas, including impacts on home pricing, cost savings, and additional special taxes. He has negotiated the formation of numerous public financing districts throughout Southern California as well as Hawai‛i. This includes responsibility for the first Community Facilities Districts ever implemented in California and Hawai'i. He has negotiated school mitigation agreements to provide schools, using Community Facilities Districts as well as other public and private financing sources, to serve over 50,000 homes throughout Southern California.
He is an expert in the area of affordable housing, including the impacts of inclusionary zoning and the California density bonus statute. His implementation of the density bonus statute has resulted in the development of approximately 2,500 additional homes as well as significant development and financial concessions for projects. He is experienced in evaluating tax credit affordable rental housing proposals for developers and is an expert in the area of planning both for-sale and rental affordable projects in master-planned communities.
Mr. Sakai is the principal of Springbrook Realty Advisors, Inc., a real estate consulting firm located in Newport Beach. He is a graduate of the University of Redlands. He is a Certified Public Accountant and he is a member of the California Building Industry Association. He has been a speaker at various seminars, including those sponsored by UCLA Extension, the Appraisal Institute, Urban Land Institute, and the California Redevelopment Association.
Our clients include major land owners, land developers, homebuilders, and apartment developers throughout California and the Western U.S.
