In this episode of Infinity Podcast, Zeus Hernandez sits down with John Citrigno, a veteran real estate investor, developer, and capital markets leader with more than three decades of experience spanning brokerage, institutional multifamily, private lending, and ground-up development.
John is the Managing Partner of Cirius Partners, a closely held real estate investment platform composed of long-time high-net-worth partners, and the Principal of Cirius Green Development, where his work is focused on what he calls Housing 2.0: high-performance, energy-efficient, design-forward multifamily projects in select urban infill markets.
Together, they explore the development philosophy behind Cirius’ Bankers Hill (Park West) project in San Diego and unpack how experienced sponsors balance downside protection with upside creation through what John describes as the Yin & Yang of multifamily development.
The conversation examines why sustainability is not a branding layer but a governing economic principle, how higher-quality capital expenditures compress operating costs and reduce risk, and why long-term value in multifamily is ultimately created through resident experience and turnover reduction rather than rent maximization alone.
The discussion also dives deep into Yield-on-Cost (one of the most misunderstood metrics in development underwriting), clarifying the difference between untrended and stabilized YOC and why institutional thresholds often misprice high-barrier coastal markets like San Diego. John shares candid insights into investor behavior, sponsor credibility, and the realities of capital alignment in today’s multifamily environment, along with his long-term outlook on San Diego as one of the most structurally resilient rental markets in the United States.
We discuss:
• John’s evolution across brokerage, capital markets, and development
• The Housing 2.0 framework and design-driven multifamily strategy
• The Yin & Yang philosophy: balancing affordability with luxury and performance
• Sustainability as an economic driver of NOI durability and asset resilience
• Yield-on-Cost: untrended vs stabilized and institutional underwriting realities
• Investor priorities: trust, alignment, and sponsor credibility
• Resident experience and turnover as the core drivers of value creation
• Why San Diego remains one of the strongest long-term multifamily markets
• Advice for emerging developers building durable platforms
Whether you’re a developer, investor, or operator navigating urban multifamily in high-cost markets, this episode offers a grounded, real-world look at how experienced sponsors structure, design, and capitalize projects for long-term performance across cycles.
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https://www.linkedin.com/in/zeus-hernandez/
About Infinity Development
Infinity Development is a commercial real estate investment and development firm shaping design-driven, sustainable assets through disciplined execution, intelligent planning, and long-term partnerships.
