Ocean Development, housing development
investors benefiting from increased urban
A shift towards cities and away from the suburbs has given a boost to inner city housing
developers and investors like Ocean Development and owners Amy and Kip Cyprus.
Since the housing shakeup, Americans have been trickling out of the suburbs and finding their
way into cities, where they are finding robust residential and commercial developments to meet
A number of factors, from tighter mortgage requirements to higher fuel prices, have contributed
to a preference for renting and a desire for shorter commutes. And, the resulting exodus from
the outer reaches of the suburbs has led to a shift in housing and property development away
from sprawling housing developments and towards urban redevelopment and multi-family
Ocean Development, which is owned and operated by company President Amy Cyprus, has put
itself in a perfect position to help these new urban dwellers find quality housing, while also
making sound property investments in a changing landscape. America is more urban than it has
ever been. According to the 2010 Census, more that 80 percent of the nation’s population
resides in urban environments, and that figure is expected to grow.
Even in cities like Detroit – long maligned for inner-city poverty and decay – a combination of
redevelopment and greater demand for urban living has spurred growth in property investment
and urban development, and attracted upscale retail outlets like Whole Foods.
In Los Angeles, the trend is similar. The city, which covers 60 square miles and holds more than
880,000 people, is in a constant state of improvement. Through projects like the $19.2 billion
development for the Los Angeles Unified School District, the city is continuously adding newer,
more modern facilities.
This is great news for investors and developers like Cyprus, who has carved out a niche
developing and managing rental property for private investors in the Los Angeles area. Their
boutique investment service provides a “hands off” option for investing that saves investors the
pain of landlord/tenant relationships.
With the right strategy, this new housing landscape is a rich environment for urban housing
development and investment. Cyprus and her team at Ocean Development are poised to take
full advantage for investors.
Cyprus and her husband Kip were married in 1991. At the time, Kip Cyprus was in trust deed
sales. Together, Kip and Amy began buying and selling property. Amy has continued to add and
maintain multi-family housing units over the years.