LOS ANGELES–(BUSINESS WIRE)–AHF will run another set of full-page, color housing advertisements to be released this Sunday, November 13e in the Los Angeles Times. The ad, titled “Olympic Hotel-A Gold Medal for Affordable Housing”highlights AHF’s latest hotel acquisition for its Healthy Housing Foundation, the 172-room Olympic Hotel near MacArthur Park.
AHF recently closed the historic single-occupancy (SRO) hotel, built in 1925 and located at 725 Westlake Street, Los Angeles, 90037. Of the approximately 140 current residents at the 172-room hotel, each with a bath private – more than 90 said they intended to stay as residents and that many more were likely to follow. AHF has updated and renovated the units and will seek to place additional tenants as these rooms become available.
AHF’s Olympic Hotel ad in The Times notes that AHF and its Healthy Housing Foundation purchased properties throughout Los Angeles at an average cost of $100,000 per unit –far below the usual price of half a million dollars to $700,000 of “affordable housing” that the City of Los Angeles builds, supports, or funds to house low-income, homeless Angelenos.
Since 2017, AHF through its Healthy Housing Foundation (HFH) purchased, restored, and repopulated 13 single-occupancy buildings in the Greater Los Angeles area and other low-cost hotels and motels (1,425+ rooms), to provide everyday Angelinos with access to housing affordable desperately needed for the city of Los Angeles.
AIDS Health Foundation (AHF), the world’s largest AIDS service organization, currently provides medical care and/or services to more than 1.6 million people in 45 countries around the world in the United States, Africa, Latin America /Caribbean, Asia/Pacific and Eastern Europe. To learn more about AHF, please visit our website: www.aidshealth.orgFind us on Facebook: www.facebook.com/aidshealthFollow us @aidshealthcare or subscribe to our AHF podcast “AHFter the hours.”