We are thrilled to announce a significant milestone for our LA4LA initiative with the completion of the Eaves development, its first facilitated housing project. LA4LA is a groundbreaking public-private partnership housed at the California Community Foundation (CCF) in collaboration with Los Angeles Mayor Bass and Treehouse Community LA that unlocks the tools of the private sector and philanthropy and joins them with the government to address Los Angeles’s housing crisis.

With support from individual donors like Steven Cloobeck, Marilyn, and Jeffrey Katzenberg, as well as institutional philanthropy partners the California Community Foundation and the Hilton Foundation, LA4LA secured $2.9 million in funding and loans to close the project’s financial gap and ensure its completion as an affordable project.

The Eaves stands as a testament to what collaboration can do. Once at risk of default due to economic challenges, this Koreatown building was transformed into a 7,500-square-foot, 58-unit development, offering high-quality, affordable housing without relying on taxpayer funds. This swift conversion was made possible by $2.9 million in grants and zero-interest loans, showcasing a cost-effective development model with an average unit cost of approximately $300,000— more than half the cost of typical projects.

As a key partner in this initiative, CCF is proud to work with LA4LA and leverage our expertise and resources to drive transformative change. The Eaves project proves that we can mobilize resources and leverage new financing models when we work across sectors and fund affordable housing faster and more efficiently. The project also underlines our commitment to tackling the housing crisis with urgency and creativity.

LA4LA is a public-private partnership focused on addressing the housing crisis in Los Angeles through innovative solutions, strategic investments, and collaborative efforts across sectors. By leveraging philanthropic contributions and private sector resources, LA4LA aims to create a sustainable and scalable model for affordable housing. To learn more about this inspiring project and its impact on our community, read the full LA Times article here and visit www.la4la.org.