Alliant Strategic Investments has invested in Farmdale Apartments, a North Hollywood, Calif., property located in an opportunity zone, which will become 26 units of workforce and affordable housing.
Four of the units will be set aside for residents who are considered to be extremely low income; earning 30 percent of the area median income or less.
“Now, more than ever, housing matters. The global pandemic has impacted how we live. These uncertain times have intensified the critical need for housing amidst widespread economic hardship,” said Russell Ginise, Alliant Strategic’s president. “Particularly for these residents of California, where COVID-19 has resulted in a massive loss of jobs, access to affordable housing is absolutely crucial.”
Farmdale Apartments is the first investment made by Alliant Strategic Opportunity Zone Fund I, an investment fund sponsored by Alliant Strategic that was formed to invest in real estate within qualified opportunity
