ABS Properties, Inc., (“ABS”) is an innovative boutique development firm whose lightning-quick responses allow it to thrive in today’s ever-changing real-estate environment. ABS’ commitment and professionalism has driven our growth and reputation over the past 10+ years as a premier development firm in the City of Los Angeles.
ABS has many single purpose entities with the first formed in 2001 for the purpose of acquiring and developing properties. Since then, ABS has entered into development on developments ranging from large multi-family to mixed-income, mixed-use development totaling over 600 units and $125M. Each of these developments has their financing in place, whether the highly competitive 9% tax credits, or conventional dept/equity structures. Additionally, ABS has served as consultant to notable clients such as SunAmerica AIG and LAHD.
Our strength lies in the ability of our development team to bring creative solutions. Whether it’s a complex financial structure or a difficult land use/entitlement issue, the development team of ABS is sure to have a quick and creative solution. The development team of ABS has what it takes to satisfy astute partners, clients, and stakeholders who come to expect and receive superior quality work.
Just as commitment to quality has served to propel the precipitous growth of ABS, commitment to community is fundamental to the firm. ABS is aware of the community that it serves and works closely with notable non-profit community partners such as Grant AME, Ward AME, the Hollywood 7th Day Adventist Church, Hollywood Arts, PATH, Palms Residential Care Facility, Search for the Involvement of Philipino Americans (SIPA) and Levitt Pavilion for the Performing Arts MacArthur Park Los Angeles. The ABS team through its involvement in civic affairs, charitable work, and support for the arts play an active role in promoting the growth and revitalization of communities.
Mr. Srivastava is the CEO and Managing Member of ABS Properties and its affiliated group of companies. ABS is an innovative boutique development firm founded for the purpose of acquiring and developing properties. Since Mr. Srivastava formed ABS in 2001, the firm has earned the reputation as a premiere affordable housing development firm in Los Angeles, and has delivered over 600 affordable units in California.
In 2009, ABS completed development of 92 units of affordable housing in partnership with the City of Los Angeles and received the ‘Construction Developer of the Year’ award. Currently ABS, under the direction of Mr. Srivastava, is developing approximately 100 mixed-income mixed use units; 25,000 sft of office space; and 30,000 sft of retail/restaurant space, including continued revitalization of historic Hollywood landmark buildings, with a combined market value of over $50 million.
Mr. Srivastava helped found the Hollywood Studio District Neighborhood Council and served for many years as the Treasurer. He is a committed supporter of Hollywood Arts, a local non-profit that focuses on education and empowerment through the arts.
Mr. Srivastava also served as the treasurer of “The Friends of the Levitt Pavilion—MacArthur Park,’ a non-profit organization committed to enriching the community and inspiring youth by presenting professional, culturally diverse entertainment for all ages, free of charge.
In partnership with the Los Angeles City Department of Recreation and Parks, The Friends restored the historic band shell at MacArthur Park, which is now the new Levitt Pavilion, a beautiful venue to present dynamic performances celebrating music from around the world. The revived band shell is now used for exceptional performances to one of the most historical parks in Los Angeles. Over 34,000 people attended the 2012 summer concert season at MacArthur Park non-profit.
The ABS team is committed to the revitalization and growth of communities.
The idea of the Kollaborative was born out of the new phenomenon we call the “coffee shop economy.” Entrepreneurs have been flocking to flexible work spaces like coffee shops to take meetings and work on projects because it provides a more social environment than home, without the overhead cost of an office. Our business model is designed to take advantage of this new marketshare by providing the services and resources these entrepreneurs need, in a more work friendly environment, all at a cost they can afford. Currently, The Kollaborative is developing these services and work spaces in our flagship location at the corner of Hollywood Blvd & Western Ave. This intersection, and Hollywood as a whole, has seen enormous growth in the last 12 months, and the trends show it will only continue. The Kollaborative is strategically positioned to capture the market share as developers continue to create growth around it.