LOS ANGELES-Miami-based Fifteen Group is partnering with Southern California's Van Daele Homes to jointly own and develop two of Fifteen Group's residential properties in the Silver Lake and Echo Park communities here.

The properties include a 1.44-acre development parcel on Rowena Ave. in Silver Lake, purchased by Fifteen Group in 2011, and Morton Village, a one-acre site entitled for the development of an 18-unit small lot subdivision in Echo Park.

Mark Sanders, the co-founder and principal of Fifteen Group, tells GlobeSt.com that they partnered with Van Daele because the companies have compatible outlooks.

“Van Daele Homes is a first-rate homebuilder with an impeccable reputation for quality and service,” says Sanders. “We share similar views on the potential of the market and, like Fifteen Group, they are a private, family-owned company.”

The Silver Lake property will feature 33 townhomes with attached garages. It is anticipated to begin construction in September. The Cuningham Group architectural firm in Culver City will be the designer. The Silver Lake site was originally owned by the Piedmont Group, which planned to put up 64 condos.

It then sold to Fifteen Group, which cut the number of units to 45 townhouses and briefly put the property up for sale. A published report indicated the Silver Lake townhomes would sell for between $500,000 to $600,000. Fifteen Group declined to name its anticipated price, but says the homes will feature large master suites, walk-in showers, luxury kitchens and large amounts of natural light.

The Morton Village property is anticipated to begin construction in May. Aaron Brumer and Associates of Los Angeles will be the architects. Published reports indicate the price will be between $400,000-$500,000 for the units. Van Daele has delivered over 15,000 homes in Southern California since 1987. It most recently launched ARTIS, a 15-home enclave in Echo Park. “Fifteen Group is an outstanding partner to work with,” said a statement from Michael Van Daele, chief operating officer of Van Daele Homes. “They have a family orientation to their business like we do, and have exhibited a tremendous ability to acquire high quality real estate with significant redevelopment potential.”

Also in Los Angeles, Fifteen Group continues to actively pursue its entitlement of Wyvernwood Garden Apartments, a planned 1,187-unit apartment community in the Boyle Heights community of Los Angeles, which the firm acquired in 1998. Known as the New Wyvernwood, the development is planned to include up to 4,400 residential units, 300,000 square feet of retail and office space, 25,000 square feet of community civic space, and 21 acres parks and open space.

The project, which the Fifteen Group anticipates as an investment of $2 billion, has been controversial. “We continue to work through the public approval process to secure entitlements and are looking forward to a hearing with the City Planning Commission very soon,” says Sanders.

As previously reported in GlobeSt.com, the Wyvernwood project has been contemplated for some time.