$3 million goes to housing homeless
As part of an effort to get the city’s homeless into permanent residences, Los Angeles officials announced Monday that the first loan from a special housing fund will go to help a San Fernando Valley nonprofit developer buy property for a 60-unit complex dubbed Glenoaks Gardens.
L.A. Family Housing plans to put the $3 million toward development of studio apartments for single, chronically homeless adults. The site is currently occupied by a carwash. Many of the development’s residents will have mental illnesses and require services that will be provided on site, such as employment counseling, life skills training and recovery programs.
The development, which is scheduled to open in 2010, will accommodate some of the 250 homeless people who are now living in the valley’s only shelter.
The $30-million fund, supported by investments from nonprofits, city and state housing officials, and private banks, will help finance development of 1,500 similar units, officials said. The fund is the largest of its kind in the country.
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-- Jennifer Oldham
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