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Investing In The Inner City

Posted by: Deborah Myerson

18 October 2006 - 10:00am

Golden Boy Partners aims to produce affordable housing for working class neighborhoods in L.A.

Boxing champion Oscar de la Hoya, teaming up with real estate developer John Long, has launched Golden Boy Partners (after his boxing nickname) to address the dire shortage of housing affordable to working families in the greater Los Angeles area. With six projects underway, housing units will be sold at market rate, but the profit will be with a purpose -- at price points lower than typical offerings currently available. The effort is part of a growing niche of real estate investors and developers that are recognizing the market potential of the inner city.

Full Story: Fighting for Housing
Source: The New York Times, October 14, 2006
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