Boston-based impact investment firm, Arctaris Impact Investors, LLC, has recently announced their lead equity investment in Liv DTLA. This $67-million market-rate affordable housing development is located in the South Park neighborhood of Los Angeles and marks Arctaris Impact’s first Opportunity Zone investment in the city.
The project has received funding from various sources including a $13.6-million equity investment from Arctaris, a $34.9-million loan facilitated by United Way of Greater Los Angeles’ Affordable Housing Initiative, and an additional $18.1 million raised through CrowdStreet and other high-net-worth individuals with a focus on making an impact.
Housing Diversity Corp., a Seattle-based multifamily real estate manager, is developing this all-studio housing project located at 1411 S. Flower St.. With construction currently 85% complete, the finished project will consist of 227 units with 40% reserved for extremely low-income and voucher-subsidized households.
