Sunflower Bank and Logos Faith Development announced the closing of a construction loan of approximately $15 million for Logos’ St Rest Phase One, an affordable housing community in South Los Angeles. The project represents the first phase of a two-phase development on land owned by St Rest Friendship Baptist Church.
Located at 706 W. 85th St., St Rest Phase One will deliver 62 new apartment homes serving low- and moderate-income households. The $15-million loan will be used to cover construction costs of Phase One, which is expected to begin shortly, with completion expected in the fourth quarter of 2027. during Q4 2027. The full two-phase project will deliver 138 new housing units along with a new worship and ministry space for St Rest Baptist Church in Phase Two.
“This closing marks an important milestone for the church and the surrounding Vermont Knolls neighborhood,” said Pastor Martin Porter, founder and CEO of Logos Faith Development. “By working closely with St Rest Baptist Church and Sunflower Bank, we are advancing a model that strengthens faith-based institutions while addressing the urgent need for affordable housing.”
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