Project: The Rising — Koreatown / CD10

Empty Buildings.
Full Lives.

That's The Rising. That's HOUSED LA.

The Rising — architectural rendering of a 40–80 unit adaptive-reuse mixed-income permanent supportive housing building, Koreatown / CD10 Los Angeles
Architectural rendering · The Rising · Koreatown / CD10

"HOUSED LA does not move people off the street. It moves them into a life."

40–80 Units of Mixed-Income PSH
50/40/10 PSH / Affordable / Manager
Adaptive Reuse Faster, Cheaper Than Ground-Up
$6.5–8.5M Layered Capital Stack
"Los Angeles has spent billions of dollars on homelessness — and has very little to show for it."
— HOUSED LA, 2026
$2.3B
In city homeless spending could not be properly accounted for across June 2020–2024 (Alvarez & Marsal audit)
47.8%
Of tracked LAHSA programme participants returned to homelessness — exceeding the rate of successful exits
$600K+
Per unit — the going cost of LIHTC-driven PSH delivery in LA, with 5+ years from funding to occupancy
~$300K
Per unit — what The Eaves cost (LA4LA, Koreatown, 2024) via adaptive reuse without LIHTC. The Rising follows the same playbook.
Skid Row, Downtown Los Angeles
Los Angeles · A Crisis in Plain Sight

"The people sleeping on our streets tonight deserve more than a report. They deserve a building with their name on it."

Image credit: Los Angeles Times. HOUSED LA does not claim ownership of this photograph.
01
The Model

Adaptive Reuse. Mixed Income.
Built to Deliver.

The Building
40–80 Unit Adaptive Reuse
A vacant or distressed building in Koreatown / CD10, converted into permanent housing. Faster, cheaper, and lower-carbon than ground-up — typically ~$300K per unit, versus $600K+ for LIHTC-driven PSH.
The Unit Mix
50 / 40 / 10
50% Permanent Supportive Housing for chronically unhoused residents. 40% Affordable Housing for workforce tenants. 10% Manager / on-site staff units. This ratio unlocks a layered funding stack a 100% PSH project can't access.
The Capital Stack
Layered, Not Single-Source
Homekey+ (via public entity co-applicant) plus Measure ULA Alternative Models plus HACLA project-based subsidy plus philanthropic gap fill. Total capital need: $6.5–8.5M for a 40-unit scenario. LIHTC treated as fallback, not foundation.
The Sponsor Partnership
Experienced Developer + Local Roots
HOUSED LA is in active conversation with experienced PSH developers. The sponsor brings track record and capital readiness. HOUSED LA brings the mission, the community, and the discipline.
The Services Layer
Wraparound, Not Bolted-On
On-site case management, behavioral health support, and housing stability services delivered through a service-provider partner (Weingart, PATH, or sponsor's in-house team). Pet-friendly throughout — because 25–50% of unhoused people with pets refuse shelter that won't accept their animal.
The Accountability
Post-LAHSA, By Design
HOUSED LA was built for a city that just spent $2.3B with too little to show for it. Government-grade controls (FAR/DFARS-derived through founder's GOVGUARD LLC), audit-ready governance, public quarterly reporting, and explicit outcome benchmarks tied to funder dollars.
The Timeline
Pre-LOI Today. Occupied by 2028.
Months 1–12: sponsor agreement, site identification, public entity co-applicant. Months 12–24: Homekey+ award, design, predevelopment. Months 24–36: construction and occupancy. The Rising is designed to deliver — and to outlast the Olympic moment, not depend on it.
02
Proof of Concept

The Model Is Already Working.
Two Buildings Show How.

🏘️
The Eaves — Koreatown, 2024
58-unit permanent supportive housing building, two blocks from where The Rising will live. Delivered by developer Prophet Walker (Treehouse Community LA) with $2.9M in gap financing assembled by LA4LA — without LIHTC. Total cost ~$300K per unit, less than half the typical LA PSH benchmark. LAHSA master-leased the building; PATH provides services. Living proof that mixed-capital, sponsor-led adaptive reuse works in this neighborhood.
🏗️
Safe Harbor I — Wilmington, 2026
50-unit PSH building delivered by Holos Communities and TPC Homes, financed through a $34M HACLA project-based subsidy commitment over 20 years — again without LIHTC. Demonstrates the operational model The Rising's financial stack is built on: layered public capital plus sponsor experience plus long-term HACLA subsidy, delivering at speed and scale conventional financing can't match.
📍
The Rising — What's Next
Same playbook. Same sector relationships. Same neighborhood as The Eaves. HOUSED LA is in active conversation with LA4LA (Sarah Dusseault, Jenna Hornstock), CSH (David Howden), LAHD, Supervisor Holly Mitchell's office, and CD10. The Rising's role is to be the next building, in the next district, delivered with the same financial logic that already worked.
Take the Next Step

The People Sleeping on Our Streets Tonight Deserve More Than a Report.

HOUSED LA is seeking a sponsor partner, a public entity co-applicant for Homekey+, a target building in Koreatown / CD10, and funder conversations to advance The Rising to letter of intent. If you can move any of those forward — we should talk.

Founder Candice Edwards-Marchrones
Email candice@housed-la.org Email to request a meeting or the full proposal.