Jordan Downs

Solutions to Los Angeles' affordability crisis have been hurledfrom all directions. While we have seen several differentsolutions, the real estate community maintains that moredevelopment is the key to creating more affordable options. But,building affordable housing is not an easy feat without the help ofbanking programs. The agencies have been the biggest provider offunding for affordable projects, but The Bank of AmericaMerrill Lynch Community Development Banking—which had arecord-breaking year in 2017—is making a substantial impact in LosAngeles.

“In 2017, Bank of America Merrill Lynch provided commitments forover $329MM in construction loans, permanent debt, and equityinvestments to develop over 600 affordable housing units in the LosAngeles Metro Area,” Sindy Spivak, CommunityDevelopment Banking Market Executive, Bank of America MerrillLynch, tells GlobeSt.com. “Our commitments directly benefit some ofthe most vulnerable residents and our communities are stronger andthrive when all residents have access to quality affordable housingand needed services.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.