Los Angeles’ Hope on Avalon project secures $33 million in construction loan

A housing building project, jointly developed by LSA Capital and Aedis Real Estate Group, has secured more than $33 million in construction loans.

The planned properties, known as Hope on Avalon, will include a 67-unit permanent housing building and a 21-unit transitional housing building in Los Angeles.

The $45.7 million project will provide housing to 66 homeless individuals seeking permanent supportive housing in a five-story building, with the goal of transitioning to self-sufficiency.

An additional two-story transitional housing building will include 21 larger units that will accommodate up to 80 chronically homeless individuals.