Meeting a Critical Need for Our Nation’s Heroes
11.21.2022
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LISC StoriesAffordable Housing
Los Angeles County has the highest concentration of unhoused veterans, with 10% of the nation’s total. Despite City and County efforts to place more individuals into housing than ever, the 2022 homeless count revealed an overall 4.1% increase in homelessness in LA County and a steady increase in the number of unhoused veterans.
LISC LA is proud to partner with Metro Affordable Transit Connected Housing (MATCH), an affordable housing loan program for Los Angeles County that expands affordable housing near high-quality transportation for the most vulnerable communities. By connecting homes to transit hubs, working families reap an array of benefits including financial savings, improved health outcomes and easier access to jobs. For the County of Los Angeles, this means reduced carbon emissions and more money being reinvested into the local economy. MATCH provides critical funding with favorable terms for rental housing opportunities. Funders include Los Angeles County Metropolitan Transportation Authority, the California Community Foundation, The California Endowment, and the Weingart Foundation and originating lenders include Enterprise Community Partners, the Low Income Investment Fund, and LISC.
This partnership supports the master redevelopment plan for the West LA VA campus which is creating the nation's largest supportive housing community for veterans and their families. MacArthur A is the first of two phases of development for The Core Companies, a vertically-integrated real estate development and construction firm. MacArthur A - a 75-unit new construction building - will feature safe, affordable housing for veterans, with 28 set aside for the most vulnerable households with mental illness.
The second phase of this project, MacArthur B, is already in the works and will expand the capacity to house and provide stability for even more veterans in the coming years.
With such a critical need, this new construction building will provide VA-adjacent, high-quality permanent housing for our nation’s heroes. Stay tuned for the groundbreaking in the coming months.
