The SDS Supportive Housing Fund (SHF), a private-equity impact fund that finances new, financially-sustainable permanent supportive housing for individuals experiencing homelessness, announced that it closed $7 million in funding to develop 40 units of modular housing in South Los Angeles.
The Fund, RMG Housing and Los Angeles City Councilmember Curren Price (District 9) announced the public-private partnership, which is the fund’s third Los Angeles-area investment.
The project site at 5215 S. Figueroa Blvd. (about a half-mile north of Slauson Ave.) is owned by the City of Los Angeles and is part of a plan to satisfy a court mandate requiring 6,000 beds to house individuals living near dangerous freeway conditions.
The project’s modular construction will enable it to be completed a full year faster than with standard construction.