NFF Provides $8.35 Million in Financing to Support L.A. Family Housing's Campus for the Homeless
April 15, 2016—There are over 50,000 homeless people in Los Angeles County, leading some to call L.A. the “homeless capital” of the United States. For a large number of these individuals, housing is just one barrier to self-sufficiency—access to health care services, recovery support, and mental health services are intertwining issues that often act as roadblocks to long-term recovery. To face these issues, Nonprofit Finance Fund is providing $8.35 million in financing to L.A. Family Housing, a 33-year-old organization that helps families transition out of homelessness and poverty through a continuum of housing and supportive services. The financing will be used to support the construction of a state-of-the-art, 80,000-square-foot Campus that will offer a full continuum of integrated housing, health care, and social services for underserved clients.
The Campus is a two-phase project financed with Low Income Housing Tax Credits, New Markets Tax Credits, private donations, and public grants. Participating lenders in NFF’s loan are Genesis LA and Dignity Health.
"Our homeless neighbors are best served when supportive services, health care, and housing are integrated, providing permanent solutions to end homelessness in their lives," said Stephanie Klasky-Gamer, President and CEO of L.A. Family Housing. "NFF bridged a critical financing need, which allowed us to move forward with the second phase of our transformative Campus development, a regional hub that will serve thousands in our community."
Construction is expected to finish in late 2017. The completed campus will include a health clinic run by the Northeast Valley Health Corporation, temporary and permanent housing, a community room and courtyards for children, space for partner services such as employment counseling and legal advocacy, and centralized office space.
L.A. Family Housing is the largest provider of housing and homeless services in the San Fernando Valley, offering evidence-based best practices throughout the Greater L.A. region. It owns and operates three shelters and 19 permanent affordable apartment buildings, and coordinates residential services with each.