For mission-driven investors
100 affordable homes in a city far behind its goal
Culver City had permitted 85 of the 1,712 affordable units in its 2029 goal by 2025. This building proposes 100 more, all affordable.
See why it fits
01Why it fits
Why it fits a mission
- All affordable. 100% affordable under state density bonus law. The City sets the income mix and covenant; no approvals have been granted yet.
- Homes for workers and families. 25 studios, 50 one-bedrooms and 25 two-bedrooms. Who qualifies depends on the income mix the City sets.
- Managed for the long run. Trillium manages 4,374 affordable units across 57 properties. The plan is to stabilize, refinance and hold.
- An investment, not a gift. Preferred equity at a proposed 12% from $100K, or common LP equity from $300K. Capital is at risk, and returns aren't guaranteed.
02The need
Culver City is far behind on affordable housing
Culver City affordable units
5%of the goal permitted
LA County units per year
3 in 10of the yearly need permitted
Sources: California Housing Partnership 2026; Culver City 2025 Progress Report; HCD 2025; USC 2026.
03Summary
The opportunity
100 affordable workforce units with a ground-floor EV depot. Build, lease and hold.
- Need. LA County is about 500,000 affordable units short.
- Program. 25 studios, 50 one-bedrooms, 25 two-bedrooms.
- Delivery. West Modular builds the modules. Trillium manages the building.
- Structure. A preferred tranche at a proposed 12%, plus common LP equity. Rule 506(c), verified accredited investors only.
Planning assumptions, subject to design, pricing, City review and financing. Returns are not guaranteed.
04The plan
Approve, build, hold
Approvals
100% affordable under state density bonus law. The City sets the income mix and covenant.
Build and lease
Factory and site work run on one schedule, then lease-up.
Operate and hold
Stabilize, refinance and hold. Any sale depends on the market.
No approvals have been granted. Timing is under review.
How it goes up
Built in a factory. Stacked on site.
Modules are made indoors while the podium goes up, then trucked in and set by crane.
The site
A corner on two boulevards
About 14,400 SF at Sepulveda and Culver, zoned MU-1.
On site
The podium
Shops on both boulevards. EV depot off the alley.
Step 1
Built off site
Steel modules are made in the factory at the same time.
Step 2
Delivered and lifted
Trucked in and set by crane, floor by floor.
Step 3
Stacked on the podium
Five modular floors. 100 proposed units.
05Team
Who you're investing with
John Jung
Co-Founder, Brick Work
Entitlements, financing and investors. Originated the deal and leads the raise.
Brandon Krull
CEO, Onigiri Capital
Former Alpha Deal founder and AngelList investment partner. Leads financial modeling and investor reporting.
Alex Irvine
CEO, Irvine & Associates
LA land use and entitlements. Leads approvals and the density bonus.
Delivery partners
Demien Farrell
CEO, West Modular
Steel modular. $500M+ delivered.
Bob Holden
CEO, Trillium Property Mgmt.
4,374 affordable units, 57 properties.
Team experience in Los Angeles
| Project | Address | Units | Stories |
|---|---|---|---|
| Liv DTLA | 1411 S Flower St | 227 | 8 |
| Vida DTLA | 1317 S Grand Ave | 147 | 8 |
| Premiere Hollywood | 1621 N McCadden Pl | 70 | 8 |
STS Construction Services and STS Development Services projects. Team experience, not Damu projects.
06Terms
Two ways to invest
Preferred equity
Proposed 12% · $100K minimum · shared with the landowner
Common LP equity
Shares in project outcomes · terms under review
Offering
Rule 506(c) · verified accredited investors only
Preferred equity
12%Proposed return. $100K minimum, $500K tranche cap.
Capital is at risk. Returns are not guaranteed, and the investment is illiquid.
07Risks
What drives the outcome
Approvals
Path, income mix and covenant not yet confirmed.
Cost
Modular and site pricing pending; EV depot unpriced.
Rents
Rent caps and operating costs set income.
Financing
Debt terms and exit pricing set returns.
Other views
See the case from another angle
Investor inquiries
Damu Builds
John Jung · Co-Founder, Brick Work
john@brickwork.laCopied- Review the materials and discuss terms.
- Receive the offering documents and do diligence.
- Verify accredited status before subscribing.
For discussion only. Not an offer to sell or a solicitation of an offer to buy any security. Any offering is made only to accredited investors through definitive offering documents.
Projections rest on assumptions that may not occur. Investors may lose some or all of their capital. Renderings, the 3D massing and figures are conceptual and subject to design, pricing, City review and financing. Draft, subject to counsel review.