Many are indeed leaving LA Southern Californians are moving on out. The mass exodus of Angelenos has intensified as more families and workers struggle to afford higher taxes and rising housing costs throughout the region. Census data shows Los Angeles County saw 98,608 more people leave the region than moved in last year, marking the […]
LA Family Housing goes for 54 affordable units at North Hills development site
LA Family Housing President and CEO Stephanie Klasky-Gamer Non-profit developer L.A. Family Housing wants to build a 54-unit affordable project in the North Hills neighborhood of the San Fernando Valley. The plans for 8545 S. Sepulveda Boulevard call for a four-story building on the narrow 22,200-square-foot parcel. A single-story commercial building, which appears to be […]
East LA Community Corp. lands $55M in loans for affordable housing projects
East LA Community Corporation President Isela Gracian, CIT Bank President Robert Rubino and the two projects With Los Angeles providing rich incentives for affordable housing developments, an increasing number of financial institutions are getting involved. The latest is CIT Bank, which is providing $55 million in loans to East LA Community Corp. for two affordable […]
City approves lease deal for Little Tokyo mixed-use project
Go For Broke CEO Mitchell T. Maki and Little Tokyo Service Center Executive Director Dean Masubayashi The City Council approved a long-term lease with two nonprofit developers for a mixed-use project in Little Tokyo. The complex, on city land, is set to include affordable housing for veterans. Go For Broke National Education Center and the […]
LA’s affordable housing crisis linked to recent spike in homelessness
From left: Mark Ridley-Thomas and Mayor Eric Garcetti (Credit: Office of Mayor Eric Garcetti) Amid an affordable housing crisis and a growing homeless population, Mayor Eric Garcetti last year committed to building homeless shelters across Los Angeles. But his “A Bridge Home” program was met with fierce resistance from different neighborhoods, and from business and […]
This Santa Monica housing development will offer something rare
Community Corporation of Santa Monica Development Director Jesús Hernandez and the assemblage of parcels on 14th Street The Community Corporation of Santa Monica has closed on its purchase of an assemblage of lots, where it intends to build something rare in the city: an affordable housing development. The affordable developer paid a $12 million for […]