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9/05/14
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Veteran real estate executive Greg Vilkin will join Related California as President of Related California Urban Residential, a newly formed division, and as a member of the senior executive team. Related California is the West Coast Affiliate of Related Companies.
In the newly created role, Vilkin will lead all of the firm’s market-rate and luxury residential development opportunities, both stand-alone and within mixed-use environments, throughout the state. Vilkin will officially join the firm on October 1.
Simultaneously, long-time Related California executive Frank Cardone was named President of Related California Affordable, where he will continue to spearhead all of the firm’s affordable housing activities. Cardone also will continue to serve as Chief Operating Officer of Related California.
Vilkin previously served as managing principal and president of MacFarlane Partners. He joins Related with more than 30 years of real estate investment, development and management experience, during which he has led teams that developed over $10 bil in residential, retail, hospitality, office and industrial properties, as well as master-planned communities, in markets throughout the United States. A nationally recognized authority on workforce housing, he has worked extensively in developing communities and revitalizing urban neighborhoods through public/private partnerships.
Vilkin previously worked in various capacities for Forest City Enterprises, a publicly held real estate operating and development company with assets nationwide. For more than 10 years, he served as president of Forest City’s real estate businesses that operated in the western U.S. – Forest City Residential West and Forest City Stapleton. The two businesses developed and owned a wide range of properties, including high-density apartments and condominiums, office buildings, retail centers and large-scale mixed-use projects.
Cardone will oversee all operations and development activities for Related California Affordable with responsibilities that encompass all aspects of the development and redevelopment process. He has been with Related for nearly 20 years, playing a critical role in building and leading the firm’s affordable housing business.
Prior to joining Related California in 1995, Cardone was a Senior Project Manager for M. David Paul & Associates, a Santa Monica-based residential and commercial developer. Mr. Cardone has also worked as a Development Project Manager/Vice President for Calmark Development Corporation, a developer of multifamily housing.
Related California has over 1,000 affordable and market-rate residential units currently under construction. Residential sales are underway at The Waverly and Seychelle in Santa Monica and The Century in Los Angeles. The Emerson, in downtown Los Angeles, will commence leasing in the near-term.
In addition, Related California has nearly $2+ billion of market-rate projects under development in San Francisco, Silicon Valley, Marina del Rey, Hollywood, Orange County and San Diego and nearly 3,000 units of affordable housing in 20 projects under development statewide including two major public housing redevelopments in San Francisco and Sacramento. Related California also is collaborating with Related Companies on the 9-acre, 3.6 msf mixed-use Grand Avenue development in downtown Los Angeles and a 230-acre, nearly 8 msf mixed-use development in Santa Clara.
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