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Richman Group Development starts California division in La Jolla

Connecticut-based Richman Group Development Corp. has established a California division in La Jolla and named multifamily developer Luke Daniels president of the Richman Group of California Development Company LLC.

The new company will focus on luxury rental units, workforce housing and affordable projects in Los Angeles, Orange and San Diego counties with an emphasis on midrise projects in urban and suburban markets.

“California is the perfect match for our investment, development and asset management expertise,” said Kristin Miller, president of the Richman Group Development Corp. “We believe the state is in a period of sustained growth, propelled by a number of robust economic drivers and long-term demographic trends.”

Most recently, Daniels was managing director for the Western Division of Trammell Crow Residential where he was involved in acquisition, entitlements, procurement of equity, debt capital and development processes.

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