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1010 Development Corporation is a 501 (c)3 Non-Profit Organization.

© Copyright 2019 1010 Development Corporation · All Rights Reserved 

WHAT WE DO

The Crisis of Affordable Housing in Los Angeles

 

In Los Angeles today, approximately 85,000 people are homeless in Los Angeles County and more than 2/3 of households pay more than 30% of their monthly income on rent. For more than a decade, rents have increased almost three times faster than incomes. Average rent for a 2-bedroom apartment today is approaching $2000 a month. 

 

Every day, more and more Los Angeles families find they cannot afford to rent a home in Los Angeles. Decent housing is out of their reach. 37% of Los Angeles households need affordable housing and cannot find it.

 

Researchers with the Joint Center for Housing Studies of Harvard University recently ranked Los Angeles as the least affordable metropolitan area in the U.S. due to its high rent prices and housing costs in the  “The State of the Nation’s Housing 2014″ study.

Every day, the number of units available as affordable housing continues to fall behind the increasing need for that housing.

Learn more about the affordable housing challenge in Los Angeles on this interactive map showing the cost burden of housing across the United States.

LA Times Article - Homeless Numbers Grow in L.A. County

Rent Jungle - Los Angeles Rent Trend Data

1010’s Commitment to Affordable Housing

and Our Neighborhoods

 

1010 remains committed to our primary mission:

 

  • Building safe, clean, affordable housing

  • Nurturing communities within our buildings 

  • Reaching out to our local neighborhoods to renew and revitalize those areas. 

 

1010 developments are noted for the quality of their construction and maintenance. Hope Village–our earliest development–was recognized by Downtown News as the Best Housing Downtown in one of their early “Best of Downtown” lists.

 

Located in the South Park neighborhood, Hope Village and Villa Flores were one of the first major developments in the rapidly evolving area that now includes LA Live and Staples Center. Hope Village and Villa Flores each played an important role in the revitalization of that area. 

 

The Role of Affordable Housing in Low-Income Families

Low-income families require support and services to educate their children and achieve upward mobility. Having clean, safe, affordable housing begins that process. Studies show that children from low-income families who are raised in a safe and stable environment are more likely to stay in school and pursue a variety of educational opportunities than kids raised in the neighborhoods without good affordable housing options. 

 

Our Vision of 1010’s Future

1010 currently serves five of the most densely populated, economically challenged neighborhoods in the City of Los Angeles. We are actively expanding our mission to respond to the needs of other renewing/challenged areas of Los Angeles County.

 

Center for Housing Policy - The Impacts of Affordable Housing on Education: A Research Summary