LA Más Secures $200,000 in Community Investments to Combat Housing Speculation in Northeast Los Angeles
LA Más, a nonprofit organization in Northeast Los Angeles, has successfully raised $200,000 through direct loans from individual community investors. These investments, made at a minimum of $25,000 per investor with a one-percent interest rate over a five-year term, are unsecured loans directly to the nonprofit and are not tied to buildings as collateral. This initiative is part of LA Más's broader strategy to acquire properties and remove them from the speculative housing market, aiming to preserve affordable housing for working-class residents. The organization recently closed escrow on two neighboring rent-stabilized apartment buildings on Drew Street in Glassell Park, totaling 31 units, which more than doubles its housing portfolio. This acquisition was financed through a complex capital stack that included a joint-venture co-investment from Self-Help, local philanthropic funds, public dollars from the new LA County Affordable Housing Solutions Agency (LACAHSA), and these community investments. LA Más ... 
