Hope on Alvarado – Los Angeles Funds 38 New Affordable Housing Projects to Help the Homeless
October 3, 2019
In 2016, L.A. citizens voted to fund 10,000 new affordable housing units citywide. A third of the allotted funding—roughly $336 million—has just been released to “get things going.”
Los Angeles recently issued a new count on citywide homelessness: roughly 36,000 people don’t have a place to sleep—a 16% increase since last year.
It’s been three years since a $1.2 billion bond measure for new housing passed, and city council member Mitch O’Farrell feels the building tension. “Let’s get these going,” he said at a meeting of the homelessness and poverty committee, which two weeks ago finally voted to commit funds for 38 new affordable housing projects.
With a third of the budget now allocated, developers are off to secure loans to finance the remainder of their projects’ costs. (The proposition gives each developer a $150,000 nudge.) Then, city officials will give a final stamp of approval for construction to begin. Read on for a look at just a few of the developments ready to break ground.