Affordable housing is replacing market-rate as the preferred multifamily development type in Los Angeles as 100 percent affordable projects become more attractive thanks to Executive Directive 1. Developers Six Peak Capital and SoLa Impact, for example, are among those doubling down on fully affordable developments, CoStar reported. New York-based Six Peak Capital started construction on an apartment project near Los Angeles International Airport with 116 affordable units recently. The company was previously known for building market-rate co-living complexes. SoLa Impact just opened a project with 79 affordable units in South Los Angeles. They cost less than $275,000 per unit to […]
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