The South L.A. non-profit organization, RISE (Reach. Invest. Succeed. Earn.) Financial Pathways (formerly known as Community Financial Resource Center (CFRC), broke ground in December 2018 on a $32 million, permanent housing complex for homeless veterans and homeless people, in partnership with the city. The completion of the project is aimed for September 2020.
CEO and President of RISE Forescee Hogan-Rowles, had a 22-year-long vision to redevelop the neighborhood. It all started by building housing that was affordable for the community, but still provided high quality living for local residents, as well as serve as office space for RISE. With that, the vision shifted towards the homeless population, which started to grow near the intersection of Martin Luther King Boulevard and Figueroa Street. RISE also raised funds with its Annual Power Luncheon, hosted in March each year.
The housing project, called RISE Apartments, 4050 Figueroa St., in Exposition Park, will be executed by SRO Housing Corporation, as well as Highridge Costa. The project was partially funded through a preliminary reservation of four percent for Low Income Housing Tax Credits for $917,604 annually over a 10-year period from the California Tax Credit Allocation Committee (CTCAC), paired with $16.2 million in tax-exempt bonds from the California Debt Limit Allocation Committee. Additionally, RISE also received funding for $2,500,000 of the city’s Low and Moderate Income Housing Fund (LMIHF), and $9,500,000 million in Proposition HHH funds.
“We hope this project will become part of a nationwide movement to house homeless brothers and sisters,” Hogan-Rowles said, “and end the distress of families, and human lives that find themselves with no other options but to live in the streets.”
The RISE Apartments will be available to people with a 30 to 50 percent median income of the area, who are transitioning into a supportive housing community. The housing complex will offer three supportive services, as well as case management offices to be located on the fourth and fifth floors. The five-story complex will have 56 fully furnished units. Each will include a kitchenette, a cook-top, a microwave, and a refrigerator. The community amenities will also include a residential courtyard, covered parking, laundry facilities, roof terraces, a community room, bike storage, and onsite management. Via the Consolidated Entry System and LAHSA, homeless individuals can find out about vacant units.
“Given the severe lack of housing for our homeless veterans, we at Highridge Costa take tremendous pride in our ability to create high quality, safe and affordable places to live for those who selflessly served our country,” said Michael Costa, president and CEO of Highride Costa. “We feel very fortunate that our ‘work’ creates such good for so many lives.”
Permanent Supportive Housing solutions are different, than just offering shelter to the ones in need. It combines voluntary support services with affordable housing assistance, for chronically homeless individuals. Those type of services are created to offer independent living and tenancy skills, as well as connecting with other community-based services, such as healthcare, employment assistance, and treatment.
“Everyone in our city deserves safe housing […] and we’re going to keep accelerating our drive to get people off the streets and under a roof,” Los Angeles Mayor Eric Garcetti told NBC News. “We are starting a new chapter in Expo Park, and I’m proud that our community is coming together to provide homes, dignity, and a new start to Angelenos in desperate need.”
Established in March 1993, shortly after the 1992 riots, RISE Financial Pathway offers comprehensive and innovative ways to build wealth for impoverished residents, as well as small business owners in South L.A., as well as across L.A. County. It’s the “go-to” organization for micro-business training, micro-loans, small-business loans, first-time home buyer workshops, financial education, savings programs, as well as other things related to community development. In January 2020, officials with RISE will offer a housing lottrery for the homeless population to win a unit at the complex. More details will be available in the near future.
“A lot of new things are happening in that area,” Hogan-Rowles said. ”We are the first housing project on that block to be build in over 45 years.”