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Los Angeles

The Corporation for Supportive Housing and Conrad N. Hilton Foundation recently revealed a $5.2-million initiative to continue building permanent supportive housing for homeless people in Los Angeles. With assistance from the Community Redevelopment Agency of the City of Los Angeles, JPMorgan Chase & Co. and Fannie Mae, the Los Angeles Supportive Housing Recovery Initiative, as the new effort is called, will provide a mix of grants, low-interest loans and technical assistance to housing developers in Los Angeles that are experiencing project delays due to state and municipal budget crises and frozen credit markets. The Hilton Foundation provided $4 million toward the Los Angeles Supportive Housing Recovery Initiative. Permanent supportive housing, which combines affordable housing with supportive services, has proven to be a highly cost effective way to end long-term homelessness for people facing complex challenges, including mental illness, substance abuse and physical disabilities, according to a prepared statement. “The economic downturn has stalled construction of new supportive housing developments and placed a crippling financial burden on many nonprofit housing developers who have been forced to resort to program cuts, hiring freezes and lay-offs,” the statement says. “The LA Supportive Housing Recovery Initiative is critical to ensure that the permanent supportive housing industry isn’t permanently hurt by the recession, which would have long-term and devastating results for the city, nonprofit developers and homeless and disabled people in desperate need of this housing,” says Ruth Teague, CSH Los Angeles director.”

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