Brilliant Corners nabs $30M financing for affordable complex

Brilliant Corners has secured $29.9 million in bond financing to build a 78-unit affordable housing complex in an unincorporated pocket of the South Bay.

The Los Angeles County Board of Supervisors approved the financing for the San Francisco-based nonprofit affordable housing developer to build the five-story apartment building at 3127 West 147th Street, in Alondra Park, Urbanize Los Angeles reported.

It would replace a two-thirds-acre truck and container storage lot near Gardena.

Plans for the project, dubbed Toyon Gardens, call for 78 studio, one- and two-bedroom apartments for households earning between 30 percent and 60 percent of the area median income.

The complex would include offices for on-site supportive services and property managers, a community room and a parking garage for 38 cars.

The white cantilevered building would have vertical windows trimmed in black, and brown exterior balconies, a rendering shows.

In early 2023, the Brilliant Corners project received $2.6 million from state Gov. Gavin Newsom, who showered L.A. County with $200 million to build 27 affordable and permanent supportive housing complexes with nearly 2,500 apartments.

It’s not clear if the project was approved for development. A cost and timeline for the affordable housing complex were not disclosed.

The project is a few blocks north of Crenshaw Boulevard and Marine Avenue, where a 222-unit micro-unit apartment building is in the works, according to Urbanize.

Brilliant Corners, founded in 2004, owns and manages 278 affordable housing complexes in the Bay Area and Los Angeles County, according to its website. It recently completed a permanent supportive housing complex on Avalon Boulevard in Wilmington, Urbanize indicated.

Last year, the nonprofit bought at least two properties in Solano County and at least one property in Marin County. The nonprofit developer owned at least 58 properties across the Bay Area, according to an analysis of assessors data, mostly in Solano and Sonoma counties, by the San Francisco Chronicle.

— Dana Bartholomew