Housing Diversity Corporation (HDC) has secured more financing for its growing portfolio of affordable housing micro-units in the South Park neighborhood of Downtown Los Angeles, Commercial Observer has learned.
The firm announced a $34.2 million loan package for its 147-unit Vida DTLA development, which is set to open March 28. The bundle is composed of $22.6 million from the United Way of Greater L.A. and $11.6 million in additional equity raised through Pinnacle Partners for sponsor OZ Navigator, which is a partnership between HDC and investment and development firm Nitze-Stagen.