L.A. County Agency Funds Hundreds of Affordable Housing Units

New one-stop shop for affordable housing financing aims to build homes faster and cheaper

Apr. 15, 2026 at 8:41pm

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A visually striking, abstract grid of brightly colored, silkscreen-style apartment building icons in shades of orange, pink, and blue, conceptually representing the affordable housing units being built through the new county agency.A bold, colorful illustration celebrating the new affordable housing units funded through L.A. County's innovative one-stop financing agency.Los Angeles Today

The newly established L.A. County Affordable Housing Solutions Agency (LACAHSA) has approved over $100 million in funding for 10 affordable housing projects, including 554 below-market units. LACAHSA offers construction loans, permanent loans, rental subsidies, and other financing products to simplify the development process and reduce costs compared to traditional multi-agency funding approaches.

Why it matters

Los Angeles County is facing a severe affordability and homelessness crisis, and the LACAHSA agency was created to help address these issues by streamlining the affordable housing development process. By providing a one-stop shop for financing, the agency aims to build more affordable units faster and at a lower cost, which could significantly increase the supply of low-income housing in the region.

The details

LACAHSA is betting that by offering a range of financing products through a single agency, developers can build affordable housing quicker and cheaper. Data shows that each additional public funding source an affordable developer uses delays a project by 4 months and increases costs by over $20,000 per unit. LACAHSA says its funding approach, which prioritizes cost-saving measures, has resulted in new construction projects coming in below typical development costs in the county, with savings up to 12% when relying primarily on LACAHSA financing.

  • LACAHSA was established through state legislation in 2022.
  • On Wednesday, LACAHSA approved its first batch of over $100 million in funding for 10 affordable housing projects.
  • LACAHSA plans to approve another round of affordable housing funds in May 2026.

The players

L.A. County Affordable Housing Solutions Agency (LACAHSA)

A newly established county agency that provides a one-stop shop for affordable housing financing, offering construction loans, permanent loans, rental subsidies, and other funding products to simplify the development process and reduce costs.

Michael Miller

The president of Bold Communities, a developer planning over 200 affordable housing units in Harbor Gateway and Stevenson Ranch that will be funded through LACAHSA.

Ryan Johnson

The interim chief executive of LACAHSA.

Ben Metcalf

The managing director of the Terner Center at UC Berkeley, who previously served as director of the California Department of Housing and Community Development.

Rex Richardson

The mayor of Long Beach who serves as chair of the LACAHSA board.

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What they’re saying

“We want to build housing cheaper and quicker, because that means more units.”

— Ryan Johnson, Interim Chief Executive, LACAHSA

“LACAHSA was built to meet this moment.”

— Rex Richardson, Mayor of Long Beach, Chair of LACAHSA Board

“I think these will be, honestly, pretty straight forward.”

— Michael Miller, President, Bold Communities

What’s next

LACAHSA plans to approve another round of affordable housing funds in May 2026, and developers must be able to break ground within 12 months to apply for the funding.

The takeaway

The creation of LACAHSA represents a novel approach to addressing the affordable housing crisis in Los Angeles County by streamlining the complex financing process. If successful, this model could serve as a blueprint for other regions struggling with high development costs and limited affordable housing supply.