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LAHD report shows $2.4 billion in capital investments since 2010 as per-unit costs surge
Summary
The Los Angeles Housing Department told the committee it has financed about 17,934 affordable and supportive units since 2010 and that total development cost per unit rose roughly $300,000 (about 56%) between 2010 and 2025; LAHD recommended an annual consolidated reporting structure and a public dashboard.
The Los Angeles Housing Department told the Housing and Homelessness Committee on July 1 that it has financed roughly $2.4 billion in capital from nine main sources over the last 16 years and has supported 17,934 units since 2010, about 55% of which are permanent supportive housing.
"Over the 16 year study period covered by this report, these 9 funding sources accounted for about $2,400,000,000 in capital funds for the city's affordable housing investments," LAHD presenter Hannah Levian said, summarizing the department's inventory of funding streams and projects.
The presentation broke the 17,934 total into 9,862 permanent supportive housing units and 8,072 affordable units. LAHD also told the committee that production peaked in 2021 with nearly 2,400 units delivered and that Prop HHH, federal project-based vouchers and Measure H-backed services were major drivers of that increase.
LAHD highlighted rising construction costs as a central constraint. "The overall total development cost per unit for both supportive and affordable housing production has increased by about $300,000 or 56% since 2010," Levian said, pointing to the department's TDC (total development cost) analysis through 2025.
Committee members pressed LAHD on how those per-unit costs compare with other major cities and whether simplified capital stacks (for example ULA alternative models that provide a higher upfront share of financing) shorten timelines or reduce costs. LAHD said it will return with comparative data and a dashboard that consolidates disparate funding sources, including ULA, La Casa, HOME, SB2 and linkage fee proceeds, so the council can evaluate trade-offs across programs.
The department recommended establishing an annual reporting structure and a public dashboard so the council and the public can see, on a consistent basis, how funds are deployed, how many units are financed and how city contributions compare year-to-year. Council members supported that approach and asked LAHD to include per-unit cost comparisons to peer cities in future reports.
The committee noted the report and adopted the department's recommendation to provide regular consolidated reporting and follow-up analysis.
