Los Angeles, CA – June 2026 – This month marked an important milestone for Los Angeles as The Spaulding officially opened its doors, welcoming residents into a project that has been years in the making.
Among those attending the grand opening was Alex Shekhtman, founder and CEO of LBC Mortgage, who joined partners, investors, and community members in celebrating the completion of a development designed to bring much-needed housing to one of the country’s most competitive real estate markets.
For Alex, the event was about much more than a ribbon cutting.
“When you stand in front of a completed building like The Spaulding, it’s easy to focus on what you see today,” he said. “What people don’t always see are the years of planning, the setbacks, the decisions, the risk and all the people who worked incredibly hard to turn an idea into something real. That’s what I was thinking about when I walked through the property.”
Located at 1110 S. Spaulding Ave, Los Angeles, building adds new residential housing at a time when affordability and housing availability remain some of the city’s biggest challenges.
“Los Angeles has needed more housing for a very long time,” Alex said. “Everybody talks about the problem but projects like this are part of the solution. They create places for people to live, bring new energy into neighborhoods and they contribute to the long-term growth of the city.”
For those involved, the project represents years of commitment and patience.
“Real estate development is one of those things where people only see the finish line,” Alex explained. “But the real story happens long before that. There are years of work before anybody cuts a ribbon or moves into an apartment. That’s why these moments are special because they remind you that persistence matters.”
Alex believes projects like The Spaulding help shape the future of Los Angeles in ways that go beyond housing alone.
“Buildings become part of a city’s identity,” he said. “Years from now, people will drive by The Spaulding and see a beautiful property. They won’t necessarily know the story behind it but they’ll benefit from what it brings to the community. That’s the part I love about real estate. You’re building something that lasts.”
The grand opening comes at a time when the broader real estate market is beginning to show signs of renewed activity. While mortgage rates remain higher than many buyers would like, Alex says the mood among consumers is noticeably different than it was a year ago. (add pic from opening here)
“People are adjusting,” he said. “They’re realizing life doesn’t stop because rates aren’t perfect. Families still need homes and investors are still looking for opportunities. That’s why projects like The Spaulding are so important – they represent long-term thinking in a world that often focuses on the short term.”
Alex also reflected on what developments like The Spaulding mean for the future of Los Angeles.
“I think this project is going to become a recognizable part of the area for years to come,” he said. “It adds housing, it adds value and it contributes to the city’s future. That’s something worth celebrating.”
As guests toured the property and reflected on the journey that brought it to completion, Alex found himself thinking about a simple idea.
“At the end of the day, whether we’re helping someone buy their first home, financing an investment property, or celebrating a development like this, it’s all connected,” he said. “We’re helping build communities, helping people create stability. We’re helping create places where life happens. That’s why I still love this business after all these years.”
About LBC Mortgage
LBC Mortgage is a client-first mortgage brokerage licensed in California, Florida, Illinois, Washington, Texas, North Carolina, South Carolina, and Colorado. Founded in 2008, the company specializes in helping homebuyers, investors, and self-employed borrowers navigate today’s market through education, transparency, and personalized mortgage solutions.
Media Contact:
Sofiia Kovalchuk
Head of PR, LBC Mortgage
sofiia@lbcmortgage.com
(818) 217 0138
lbcmortgage.com