Issue: Groundbreaking affordable housing project in Chinatown
Facing the complicated and competitive process of developing affordable housing in Los Angeles, Affirmed Housing Group retained arnie berghoff & associates to assist it in identifying suitable locations for an affordable housing complex in the City and to help obtain local approval for construction. Once a site was found in the historic neighborhood of Chinatown, arnie berghoff & associates developed a successful strategic plan for Affirmed Housing Group to secure the appropriate entitlements and ensure that the project was competitive for the City’s housing NOFA (Notice Of Funding Availability). In addition, arnie berghoff & associates was instrumental in securing a $2.5 million land acquisition loan from the Community Redevelopment Agency for this project, as well as $800,000 in gap financing in the final months before the state’s deadline for construction funding. This development provides 60 families earning between 30 and 60% of L.A.’s area median income with safe, quality housing.