Brea City Council members approved the allocation of $60 million in bonds to finance an 85-unit affordable senior apartment complex on the corner of Mercury Lane and Berry Street – a debt the housing developer is on the hook for.
This week, city council members voted unanimously to cancel a previous project at the same location and finance the new senior apartments project that was approved by the council August 19, 2025.
It comes as cities across California are struggling to meet their state-mandated housing goals that call on cities to zone for a certain number of housing before the 2029 deadline.
According to Brea’s 2021-29 Housing Element, the city
According to Brea’s 2021-29 Housing Element, the city would need to plan for 2,365 units – 1,062 units being saved for very low to low income households – in order to meet its regional housing needs allocation.
So far, Brea has permitted a little over 100 new homes since 2021 – roughly 4% of their state mandated housing goals – with 38 units permitted for very low income families and none yet permitted for low income families, according to a state database.
Councilmember Steve Vargas questioned the $60 million bond needed to build the affordable apartments, saying the Jamboree Affordable Housing Development has already cost the city $1.9 million in development fees.
Todd Cottle of C&C Development – the company
Todd Cottle of C&C Development – the company building the units – said the projected budget for the build is around $44 million.
“I would say that $60 million is probably more of a cushion than the project needs,” Cottle said during Tuesday’s meeting.
According to Brea Communications and Marketing Manager Liz Pharis, the $60 million will be issued to the developer by the California Municipal Finance Authority.
The city is planning to issue a permit
The city is planning to issue a permit to C&C Development to start construction on the build this month.
Officials noted that the debt will not impact Brea’s budget and the responsibility of paying the bonds back falls on the developer.
The project is set to bring a five-story apartment building with 85 multifamily units to the city – 84 of the units will be solely for lower income households, with senior, veteran and local preferences being incorporated into the leasing process.
To provide a quick overview of the current
“To provide a quick overview of the current project, it provides amenities such as a community game room, enclosed patio, laundry facility, fitness area, bicycle storage and a rooftop deck,” said Brea Senior Management Analyst Marie Dao at Tuesday’s meeting.
The units will also go towards Brea’s state-mandated housing allocation for low income households.
The prior project would have brought 114 multifamily units to the 1.01 acre lot previously owned by Manley Fanticola Holdings – a company owned and operated by Dwight Manley, a long-time Brea developer and the owner of the land set to become a Costco.
The land was sold to Lennar Homes
The land was sold to Lennar Homes of California in 2025 who then sold it to C&C Development, according to previous land owner Manley.
The Greenbriar Residential Development Project is a proposed residential community on 9.7 acre site located on Greenbriar Lane. The land on Mercury Lane and Berry Street was pointed out as a potential area to meet the need to build affordable housing units.
“The Greenbriar Project applicant, Lennar Homes of California, LLC, identified the Project Site as a potential site to satisfy its affordable housing obligation and identified C&C as its partner,” a staff report reads.
During a Wednesday phone interview, Manley said building
During a Wednesday phone interview, Manley said building costs have shot up in recent years.
“The costs to build after COVID went up 75% and the delay in approval pre-COVID made it unbuildable with the higher building costs,” he said, adding that’s why he sold the property.
With the prior project no longer being pursued and construction never beginning, this prompted C&C Development to move forward with the current 85-unit project.
The 84 units are being targeted for seniors
The 84 units are being targeted for seniors making less than 70% of the area’s median income. In Orange County, the median income for a one person household is $97,000 and $110,900 for a two person household.
Manley said the new apartments will be bigger in size and cost less than what Manley Fanticola Holdings proposed – and the current developer is keeping the art deco build of the original plans.
“It’s really low rent compared to market. They kept the integrity of the original deco design, and the rooftop deck, and the amenities, and focusing on seniors and veterans.”
Sara Leon is a Voice of OC reporting
Sara Leon is a Voice of OC reporting fellow. You can reach her atsleon7903@gmail.com.
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