OC Development Opens Its Doors
Kam Sang Co. funded the 180-unit first phase of Brookhurst Place in Garden Grove, Calif., with a nearly $38 million construction loan.
Kam Sang Co. has completed construction of the first, 180-unit phase of Brookhurst Place in Garden Grove, Calif. The initial project phase broke ground in early 2016, with $37.8 million in construction financing provided by HSBC Bank, according to Yardi Matrix.
Plans for the rest of the development include an additional 462 apartments, 58 condominiums, a 100-key hotel and between 80,000 and 200,000 square feet of commercial and retail space. Up to 120 of the second phase’s units will be classified as affordable housing. Community amenities include a fitness center, a clubhouse, a swimming pool and covered parking.
Located at 12801 Brookhurst St. inside Garden Grove’s Korean Business District, the five-story building is situated at the north end of the 13.9-acre development site. Numerous retail properties are positioned within walking distance, and the Orange County Transportation Authority operates a bus route enabling throughout much of the area.
On the other side of the country, an HSBC-funded 293-unit community in Brooklyn opened its doors in April.
Image courtesy of the City of Garden Grove