HDC Secures $66.5M Loan For Liv DTLA Affordable Housing Project In LA

The Development Site located at 1411 South Flower Street in Los Angeles was the subject of a recent transaction involving a loan amount of $66,500,000. The funding was secured by Housing Diversity Corporation (HDC) for its 227-unit Liv DTLA affordable housing project, with contributions from lenders such as Arctaris Impact Investors and Elise Buik of United Way of Greater L.A.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $66,500,000
• Lender: Arctaris Impact Investors; Crowdstreet; Elise Buik - United Way of Greater L.A
• Landlord: Brad Padden - Housing Diversity Corporation

Notably, the funding for the Liv DTLA project includes $34.9 million from United Way of Greater L.A. and $13.6 million from Arctaris Impact Investors. This financial support complements the $10 million raised through crowdfunding and $8 million from high-net-worth investors, furthering HDC's goal of addressing housing scarcity for low- to moderate-income households in Downtown Los Angeles.