Affordable Housing Initiative
What is it?
The Affordable Housing Initiative (AHI) is raising $300 million over three phases to fund the acquisition, pre-development, and construction of affordable housing. Using private financing, we’re able to bypass the lengthy, unpredictable application processes and stringent development standards which often make publicly funded affordable housing difficult and expensive to produce.
In partnership with developers owned or led entirely by women, people of color, and LGBTQ+ Angelenos, we’re building affordable housing in neighborhoods across L.A., making it easier for low-income residents to find safe, stable homes in their communities of choice.
What's the impact?
- Over $50M raised in Phase 1 for affordable housing
- Average development cost reduced by 40% and construction time reduced by 50-75%
- All AHI Phase I rents maintained at $1,000 or less