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 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 impact investing.
Housing Diversity Corp., a Seattle-based multifamily real estate manager, is responsible for developing this all-studio housing project at 1411 S. Flower St., which is currently 85% complete with an expected total of 227 units upon completion. Of these units, 40% will be reserved for extremely low-income and voucher-subsidized households.
