That’s why Visionary Developments chose it as the site for a new affordable housing project called The Court Residences. Visionary Developments was co-founded in 2019 by brothers Terry and Tobias Harris, who have expanded their prowess from the basketball court (Tobias plays in the NBA, Terry played in the NBA’s G League) to real estate.
Terry Harris started by flipping a house when he lived in Delaware. Five years ago, he moved to Los Angeles, where he continued renovating houses. But as an LA resident, he soon realized how unaffordable the city is for most people — an issue the brothers are actively addressing. “We want to build high-quality multifamily affordable housing in LA’s neighborhoods,” says Harris.
They have benefited from a City of LA initiative that streamlines approval for 100% affordable housing projects and allowed Visionary Developments to achieve the economies of scale to take on the project. Capital from BlueHub Loan Fund, together with senior financing from JPMorgan Chase, filled a key budget gap and enabled them to kickstart construction.
The Court Residences will feature 189 rent-restricted units, the majority of which will be affordable to families earning 80% of the area median income. “This not only allows current residents to stay in the neighborhood but also lets people who move to LA comfortably
live in a good neighborhood, too,” Harris explains. Most importantly, the apartments are going to feel warm and welcoming.
He continues, “Our architects have been very hands-on, and the design is very intentional. The building has a market-rate feel, with large windows, a courtyard and roof deck, spaces for the tenants to gather and to work. It has soul.”
For Harris, much of The Court Residences’ success has come from finding supportive project partners who see his vision. “I’m really grateful for everyone who has been a part of the project,” says Harris. “It was amazing that BlueHub could contribute to this deal. They don’t just bring capital; they bring construction and administrative expertise that keeps us sharper. Having this additional support and eyes on the project makes sure everybody is on point, and you can’t ask for anything more than that.”
