L.A. Family Housing – Van Nuys, CA
Clearinghouse CDFI (CCDFI) provided a $3,440,000 loan for the acquisition of an office building for L.A. Family Housing. This office building supports operational expansion and provides a workspace to offer affordable housing and services to the homeless population.
In response to the COVID-19 crisis, L.A. Family Housing (LAFH) was prompted to hire additional staff to help address the surge in homelessness. To accommodate these staff, LAFH is purchased a two-story office building in a strategic location to facilitate a hybrid work model post-pandemic. Financing provided by CCDFI supports the purchase of this 9,500-square foot, freestanding facility.
Los Angeles County is one of the regions across the country most severely affected by homelessness, with over 75,000 people experiencing homelessness on any given night, with growth rates of 9% annually. LAFH serves over 11,000 individuals annually through its core homeless services programs and is a preferred service provider and affordable housing developer of both the City of Los Angeles and County of Los Angeles.
Read the full story here: Just Funded – LA Family Housing
23CA-7609
Office space for nonprofit that provides s housing to homeless and serves 93% of extremely low income families and 6% very low income families
Acquisition of office building to provide a workspace and reduce commute of 80 employees of a nonprofit organization aimed at addressing homelessness
