Innovative New 'Workforce Housing' Fund Launched

An innovative new private equity fund s dedicated to building homes in Los Angeles's inner city.

1 minute read

May 3, 2004, 11:00 AM PDT

By Chris Steins @planetizen


Citibank, Washington Mutual Inc. and others "are committing a total of $57 million to a private equity fund dedicated to building homes in Los Angeles's inner city... If successful in Los Angeles, the Genesis fund is expected to catch in other cities with affordable-housing crunches, including Boston and San Francisco... Institutional investors have been reluctant to fund such projects in major metropolitan areas. In hot housing markets like Los Angeles, the homes often are built in abandoned industrial neighborhoods where land is more affordable. Such sites often require environmental cleanup."

Thanks to Chris Steins

Monday, May 3, 2004 in Wall St. Journal

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Use Code 25for25 at checkout for 25% off an annual plan!

Redlining map of Oakland and Berkeley.

Rethinking Redlining

For decades we have blamed 100-year-old maps for the patterns of spatial racial inequity that persist in American cities today. An esteemed researcher says: we’ve got it all wrong.

May 15, 2025 - Alan Mallach

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

May 14, 2025 - Diana Ionescu

Front of Walmart store with sign.

Walmart Announces Nationwide EV Charging Network

The company plans to install electric car chargers at most of its stores by 2030.

May 7, 2025 - Inc.

Public Market sign over Pike Place Market in Seattle, Washington with pop-up booths on street.

Seattle’s Pike Place Market Leans Into Pedestrian Infrastructure

After decades of debate, the market is testing a car ban in one of its busiest areas and adding walking links to the surrounding neighborhood.

May 15 - Cascade PBS

Yellow and silver light rain train in downtown Long Beach, California.

The World’s Longest Light Rail Line is in… Los Angeles?

In a city not known for its public transit, the 48.5-mile A Line is the longest of its kind on the planet.

May 15 - Secret Los Angeles

Man reaching for young girl sliding down playground slide.

Quantifying Social Infrastructure

New developments have clear rules for ensuring surrounding roads, water, and sewers can handle new users. Why not do the same for community amenities?

May 15 - Happy Cities