Helping the Unhoused in Los Angeles

MAKING HOME POSSIBLE IN CALIFORNIA

Housing insecurity is a persistent challenge across the country, especially in major metropolitan areas. Freddie Mac worked with our industry partners in Los Angeles to finance permanent, supportive multifamily housing that offers stability in a community where it is much-needed.

Los Angeles is often associated with the glitz and glamour of show business, but in the shadows of the Hollywood hills, the city has among the highest unhoused populations in the country. While local government agencies and nonprofit organizations work to address the various root causes of homelessness, there is an immediate need to create more affordable housing units.

In 2020, Freddie Mac provided a $11.8 million low-income housing tax credit (LIHTC) equity investment to the National Equity Fund, LA Family Housing and the Coalition for Responsible Community Development to finance the Residences on Main. This rental housing community was built specifically for chronically homeless individuals and families, including transition-age youth, age 18-24, who often lose eligibility for certain public services.

“In Los Angeles, there’s a balance between the rich and poor, and it seems like there’s no in between,” said James Battee, the resident service coordinator at The Residences on Main. “The funding that goes into these project-based buildings is pivotal. For Freddie Mac to step in and be able to provide the funds to do so is amazing and life-changing.”

In addition to providing stable housing, the Residences on Main offers critical supportive services to residents, including job counseling, career support, and mental and physical health services.

“We provide a solid foundation,” Battee said. “The Residences provides hope for people who live in the nearby area to have sustainable housing that elevates them and helps them keep evolving and progressing in life.”

This has been especially true for Ruth Campbell, a former special education teacher and current resident.

Providing a Stable Foundation

Always the caretaker, Campbell adopted one of her students who has special needs. Then, when her oldest daughter lost her battle with breast cancer, she became the primary guardian of her six grandchildren, age 7- to 17-years-old, in addition to her now-grown adopted daughter.

"At that time, I was still on a fixed income," Campbell said. "Once she passed, I didn't think about me; I thought about my grandchildren. You find a way to make things work.”

Campbell was able to get by and rent an apartment for a few years, but when that apartment flooded, she and her family found themselves bouncing between hotels and shelters. Finding a permanent home at Residences on Main has given her family much-needed stability and support.

“We have freedom,” Campbell said. “It helps me see who I am and what can I do to help someone other than myself.”

With that renewed sense of freedom, Campbell has been able to focus on raising her grandchildren and giving back to her community. She volunteers to cook meals for those staying in her previous shelter and has even started her own program at Residences on Main to encourage her neighbors to share their own stories.

Battee has seen firsthand how the Residences on Main has impacted people like Campbell, who has become a source of inspiration for other residents.

“You see a mental and physical change in people,” he said. “You see people start to use the services that will help them progress further in life. There’s a level of optimism that people have that they don’t possess before they get housed.”

LIHTC equity investments are a powerful tool in Freddie Mac’s mission to increase access to affordable housing. By providing the capital needed to finance large multifamily projects, we are able to make home possible for families in communities across the country.

To learn more about Freddie Mac’s commitment to supporting affordable, supportive rental housing, visit Our Mission page.