MODULES PLACED AT BEACON LANDING SUPPORTIVE HOUSING DEVELOPMENT WILL BRING SAN PEDRO RESIDENTS HOME
Affordable nonprofit developer partnership boasts replicable and scalable development model utilizing City of Los Angeles HHH Innovation Challenge Award
SAN PEDRO, CA—Nonprofit affordable housing developer Abode Communities and the San Pedro community celebrated the critical path milestone of module placement at Beacon Landing, a supportive housing community to soon feature 89-homes homes.
“Beacon Landing is a shining example of how we, as affordable housing developers, can advance the needle to bring more permanent housing opportunities for our neighbors, friends, and families in need,” said Holly Benson, President & CEO of Abode Communities. “Supportive housing is truly our best move, and it would not be possible without bold solutions from our public and private partners.”
Beacon Landing is the first of five modular supportive housing developments to be produced as part of a $40 million City of Los Angeles HHH Innovation Challenge Award made to nonprofit developer collaborative Abode Communities, LA Family Housing, and Mercy Housing California.
With the goal to reduce cost and time needed to bring supportive housing to fruition, the developers are working to streamline the site selection, design, and financing of 398 supportive homes using prefabricated modular construction.
The funds support construction activity, providing a critical investment that is anticipated to result in a replicable and scalable development model for supportive housing developments throughout California.
LA Family Housing will provide supportive services to improve health, promote housing stability, and support independence. Services will include individual and group therapy, connections to mental and physical health care, employment and education resources, and more. Additional amenities include a landscaped courtyard, long-term bicycle parking, and onsite property management.
“Today, our community gets to see physical evidence of our fight for solutions in action as we celebrate the first HHH project here in San Pedro,” said Amber Sheikh, San Pedro Resident. “Beacon Landing will bring home 89 of our neighbors next year and it is a symbol of what’s possible when communities come together around solutions.”
The site abuts San Pedro’s West Harbor, currently under revitalization and set to open next year. Affordable housing is ever more critical as the expectation of renewed local tourism spurs workforce growth, while rising prices in the housing market make supportive housing critical for people experiencing homelessness.
“It is extremely important that we continue to create funding for developments like Beacon Landing,” said Councilmember Joe Buscaino. “We know that modular development is scalable and that it is a solution we must be proud of as we aim to speed up the amount of affordable housing available in Los Angeles.”
Abode Communities, LA Family Housing, and Mercy Housing California’s innovation includes the creation of an $8.43 million Revolving Construction Loan Fund (RCLF) funded by Local Initiatives Support Corporation, California Community Foundation, Conrad N. Hilton Foundation, and CommonSpirit Health to cover upfront predevelopment costs often associated with modular construction.
Additional acquisition and predevelopment financing provided by Corporation for Supportive Housing, Mercy Community Capital, and Abode Communities Housing Fund, made possible by California Community Foundation, Nonprofit Finance Fund, and Weingart Foundation.
Additional financing includes Federal and State Low Income Tax Credits, tax-exempt bonds, an Infill & Infrastructure Grant from State of California Dept. of Housing & Community Development, No Place Like Home funding issued by Los Angeles County Development Authority, Project-Based Section 8 Vouchers issued by Housing Authority of Los Angeles, City of Los Angeles HHH, and both permanent and construction loans.
