Meta Housing Corporation is currently renovating an apartment building and vacant motel in L.A.’s Huntington Park neighborhood. When it’s finished, the property will provide 35 units of affordable housing for formerly homeless people who are frequent clients of the L.A. County Department of Health Services (DHS).
At the intersection of Willowbrook Avenue and El Segundo Boulevard, in Los Angeles County, LINC Housing Corporation is building a 60-unit affordable housing community for low-income families. Built in partnership with DHS, 31 of the units are reserved for formerly homeless households that are frequent DHS clients. The city and county financed much of the $20 million in total development costs.
Affirmed Housing Group is currently building a 63-unit affordable apartment complex on a former vacant lot at 1435 Imperial Avenue in downtown San Diego. Built in partnership with the San Diego Housing Commission, the development will provide permanent supportive housing for 62 formerly homeless individuals, with support from federal housing vouchers set aside for homelessness reduction. The building will be LEED Gold certified, and is located two blocks from a major transit station.
These three projects have a lot in common — including the fact that they were all financed partly through insurance premiums. That’s right, the same premiums people pay for health insurance, property and casualty insurance, life insurance, and other kinds of insurance.