AHF, the largest global AIDS organization, is expanding its Healthy Housing Foundation program in Los Angeles with the purchase of the Insurance Exchange Building, which will be the group's first office-to-residential conversion project.
The historic building on W. 9th Street in DTLA will be the 14th building AHF has purchased and renovated into housing for homeless and extremely low-income individuals since it began developing residential housing in 2017, a total of $183M in acquisitions.
The 12-story insurance tower, which opened in 1924, was acquired by the organization for $21.3M. AHF is converting the building, which it is calling Angel Tower, into 251 apartment units.
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