Affordable Housing Symposium
Past: October 29, 1pm PT via Zoom Events
Our nation is facing a housing crisis and we believe that faith organizations who have significant real estate holdings can be part of the solution. Yet, many do not know what opportunities are available to fund and assist in their endeavor and how to access these resources. The covid-19 pandemic has especially impacted churches with declining offering and attendance, creating a unique opportunity where churches are seeking options for reinventing their ministry and creating sustainability.
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History In Affordable Housing
In 2012, FACE (formerly KCCD) was successful in organizing faith and community leaders to advocate for a community benefits agreement from J.H. Snyder, who was receiving $17 million in public funds for building a $169 million mixed-use project in Koreatown, Los Angeles. FACE successfully gained the commitment of J.H. Snyder to build 96 units of affordable housing, donate $1 million for a community center, and provide technical assistance for the development of a Koreatown community center, as part of their community benefits agreement. FACE was designated as the nonprofit partner.
The Meridian Apartments
In 2014, FACE was able to gain the partnership of AMCAL Multi-housing Inc. to proceed with its affordable housing project. Named Meridian Apartments, the building has 100 units of affordable housing for low-income families in Koreatown. Located by Vermont/Beverly, the mixed-use complex has retail shops, along with close proximity to public transportation. Construction began Fall 2015 with groundbreaking ceremony in early 2016 (see press release) and opened for housing in 2017. FACE continues to look and partner with developers for affordable housing projects.