Logos Faith, St. Rest Break Ground on 138-Unit Affordable Housing
Logos Faith Development, a Los Angeles–based for-profit impact developer, in partnership with St Rest Friendship Baptist Church, broke ground on Phase One of a 138-unit affordable housing community at 709 W. Manchester Ave. in Los Angeles, marking a major milestone in the organization’s 2026 development pipeline.
St. Rest Phase One will deliver 62 new apartment homes serving low- and moderate-income households. The four-story development will include 53 one-bedroom units and nine two-bedroom units, features a courtyard on the second floor and will provide 27 covered parking spaces. Construction funding was delivered via a roughly $15-million construction loan from Sunflower Bank. Phase One is expected to be completed in the fourth quarter of 2027.
The overall St Rest project will feature a mix of 138 one-bedroom and two-bedroom units, with roughly 90% of the units dedicated to low-income tenants under Section 8 standards. The full two-phase plan will ultimately create new housing units across neighboring parcels, along with a new worship and ministry space for St Rest Baptist Church in Phase Two.
Other News
Development Site Trades within Atlantic Avenue Mixed-Use Plan
Ariel Property Advisors closed the $21-million sale of a development site at 566 Grand Ave. and 836 Dean St. in Prospect Heights, Brooklyn. The corner development site comprises approximately 86,065 buildable square feet and traded for approximately $244 per buildable square foot. The transaction was arranged by Ariel partner Sean R. Kelly along with associate...
Learn more
Fourth Sale Closes in Anaheim Multifamily Portfolio
Marcus & Millichap arranged the sale of Knott-Orange Apartments, a 35-unit multifamily property located at 515 S. Knott Ave. in Anaheim. The property sold for $9.65 million, or $275,714 per unit. “This transaction marked the fourth closing from a larger Anaheim-area multifamily portfolio as the seller continues to reposition its holdings through a 1031 exchange...
Learn more
JLL Arranges $135M Financing for Luxury Multifamily in Yonkers
JLL Capital Markets arranged $135 million in construction financing and joint venture equity for the development of The Ibex at Ridge Hill, a 282-unit luxury multifamily community at the Ridge Hill mixed-use lifestyle center in Yonkers. Senior managing directors Evan Pariser and Aaron Niedermayer and director John Lowe arranged the senior construction loan with Bank...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout