AHF's Olympic Hotel ?A Gold Medal for Affordable Housing'
AHF will run another full-page, full-color housing advocacy ad set to be published this Sunday, November 13th in the Los Angeles Times. The ad, headlined "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 on the historic single-room-occupancy (SRO) hotel, built in 1925 and located at 725 Westlake Street, Los Angeles, 90037. Of the 140 or so current residents in the 172-room hotel? each of which has a private bathroom?more than 90 have indicated that they intend to remain as residents with many others likely to follow. AHF has been updating and refurbishing the units and will be looking to place additional tenants as those rooms become available.
AHF's Olympic Hotel ad in the Times notes that AHF and its Healthy Housing Foundation has purchased properties throughout Los Angeles at an average cost of $100,000 per unit?far below the routine half-a-million dollar to $700,000 price tag of ?affordable housing' that the City of Los Angeles is building, backing or financing for housing low-income and homeless Angelenos.
Since 2017, AHF through its Healthy Housing Foundation (HHF) has been purchasing, restoring, and re-populating 13 Greater Los Angeles area single-room-occupancy buildings and other hotels and motels (1,425 rooms and counting) at a low cost, to provide everyday Angelinos with the access to desperately needed affordable housing for the city of Los Angeles.
AIDS Healthcare Foundation (AHF), the largest global AIDS organization, currently provides medical care and/or services to over 1.6 million individuals in 45 countries worldwide in the US, Africa, Latin America/Caribbean, the Asia/Pacific Region and Eastern Europe. To learn more about AHF, please visit our website: www.aidshealth.org, find us on Facebook: www.facebook.com/aidshealth, follow us @aidshealthcare or subscribe to our AHF podcast "AHFter Hours."
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