HHH Funding in Action: Homes End Homelessness Profile, Rise Apartments

Proposition HHH, passed in 2016, has allowed city officials to issue $1.2 billion in bonds for the development of supportive housing for homeless individuals across the city of Los Angeles. Proposition HHH has more than tripled L.A.’s annual production of supporting housing, helping to build approximately 10,000 units for those at risk of or experiencing homelessness.

The Rise Apartments were recently profiled in the Southern California Association of Non-Profit Housing Proposition HHH – Homes End Homelessness newsletter. The 5-story apartment complex provides a new, dignified home to 57 previously homeless individuals and homeless veterans earning between 30 and 50% AMI.

As one of the first projects to use this new funding source, Michael A. Costa, President/CEO of the company that owns the Rise Apartments, Highridge Costa shares just how instrumental Proposition HHH has been. “Proposition HHH has allowed Highridge Costa to continue its quest of ‘Changing Lives’ while addressing the homelessness crisis currently plaguing the City of Los Angeles. Currently, HHH funds have been instrumental in the development of three Highridge Costa sponsored homeless communities consisting of a total of 168 units for 14 families, 126 veterans, and 28 homeless individuals. This would not have been possible without the critically needed HHH funds. Angelenos can now say they have contributed to making a huge difference in the lives of those less fortunate by voting for the HHH Bond Initiative.” 

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