Funding is Provided by Los Angeles County Affordable Housing Solutions Agency Measure A South Bay Production, Preservation and Ownership Funds  

TORRANCE, CALIF., May 27, 2026 – The newly formed South Bay Regional Housing Trust (SBRHT) board of directors voted at its second meeting on May 21, 2026, to commit a $6 million loan toward the Cordary Avenue Apartments project in the City of Hawthorne. The commitment is the first funding allocation from $7.9 million in Los Angeles County Affordable Housing Solutions Agency (LACAHSA) funds earmarked annually to the South Bay through LACAHSA’s Production, Preservation and Ownership Program funded by Measure A. 

A map of the location of the proposed site at 14115 Cordary Avenue in Hawthorne. Image courtesy of BSB Design.

The $75.9 million Cordary Avenue Apartments project is a new construction, 100% affordable housing development located at 14115 Cordary Avenue, proposed by Abode Communities, a non-profit developer. It would replace an underutilized land parcel owned by the City of Hawthorne with a 93-unit building.  

“We have an opportunity to really kick off this housing trust and do exactly what we’re all here to do, which is to find ways to build affordable housing in the way that local jurisdictions  want,” Nina Tarnay, SBRHT board member from the City of Manhattan Beach, said just prior to the vote. “This is what they want; they’ve [Hawthorne] put skin in the game as well. So, I think these are the types of projects I would be happy to support.” 

In addition to the SBRHT loan and a $7 million City of Hawthorne loan, the project will be seeking additional local, state, and federal funding to bridge its financing gaps. With funding secured, the project is anticipated to begin construction November 1, 2027, and reach completion by September 1, 2029.  

The proposed new building would feature a central courtyard and play area, a community room, on-site resident services, on-site property management, laundry facilities, secured bike parking and 54 parking spaces. All the proposed rental units will be income-restricted to households with 30-70% of the area’s median income. The dwelling unit mix includes 69 one-bedroom units and 24 two-bedroom units, with one two-bedroom unit reserved for an on-site manager.  

 “Our data shows that seniors and small working-class families are experiencing an increase in housing insecurity, especially families in our school districts. These units could help prevent future households from being displaced,” Jacki Bacharach, interim director, South Bay Regional Housing Trust, said.  

The combination of immediate park adjacency, walkable schools, transit access, and proximity to grocery stores supports the project’s suitability for households in the low-income levels. This includes the following proximities:  

  • Jim Thorpe Park located approximately 0.1 miles north, with a large playground, baseball fields, picnic areas and a splash pad.  
  • Zela David Elementary School (approximately 0.5 miles northeast), Prairie Vista Middle School (approximately 0.3 miles west), and Bud Carson Middle School (approximately0.5 miles east) all within the Hawthorne Unified School District.  
  • Multiple Metro bus stops at the Hawthorne Boulevard and Rosecrans Avenue intersection (approximately 0.6 miles west, providing regional transit connectivity.  
  • Food 4 Less and additional grocery options on Rosecrans Avenue, approximately 1 mile west of the site, plus convenience retail along the Rosecrans corridor.  

The SBRHT is designed to help fund the development and construction of affordable housing in cities that are members of the trust, exclusively for projects that are approved for consideration by the city in which they are proposed. The need for the SBHRT rose as a proposed tool by the South Bay Cities Council of Governments to help South Bay cities meet requirements of the state’s Regional Housing Needs Assessment (RHNA). RHNA mandates that every local jurisdiction ensures there are enough sites appropriately zoned for affordable housing construction to accommodate projected growth as calculated by the state every eight years.  

The SBRHT has lending authority and can provide soft development loans, construction pre-development loans, preservation/acquisition stakes, master leasing, and direct service/homebuyer assistance programs. These approaches will generate revenue and allow for these public dollars to come back to the trust over time and be reprogrammed to maximize their use. The SBRHT loan for the Cordary projects represents 8% of the development cost, approved at a 3% interest rate with a 55-year term.  

Eleven South Bay cities are currently members of the SBRHT: El Segundo, Hawthorne, Hermosa Beach, Inglewood, Lawndale, Lomita, Manhattan Beach, Rancho Palos Verdes, Rolling Hills Estates, Redondo Beach and Torrance.  

The board scheduled future SBRHT meetings for the third Thursday of each month at 3:30 p.m. To follow the SBRHT as it develops, visit its newly launched website at sbrht.org.   

 

ABOUT THE SOUTH BAY REGIONAL HOUSING TRUST:  

The South Bay Regional Housing Trust (SBRHT) is a joint powers authority that offers a collaborative, regionally coordinated approach to the South Bay’s growing housing affordability challenges. It is designed to help the development and preservation of affordable housing in cities that are members of the trust, exclusively for projects that are approved for consideration in the city in which they are proposed. Eleven South Bay cities are currently members of the SBRHT: El Segundo, Hawthorne, Hermosa Beach, Inglewood, Lawndale, Lomita, Manhattan Beach, Rancho Palos Verdes, Rolling Hills Estates, Redondo Beach and Torrance. The SBRHT’s primary funding source is $7.9 million in Measure A funds received annually through the Los Angeles County Affordable Solutions Agency (LACAHSA) Production, Preservation and Ownership program. For more information about the SBRHT, visit SBRHT.org.  

 

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