A Los Angeles supportive housing development demonstrates how private capital and public partnerships can streamline how cities approach development of housing for the homeless, according to its developers.
Through a master lease partnership with the Los Angeles Homeless Services Authority, all 147 units at Vida DTLA were fully occupied within just five days of completion — far outpacing the typical 120-day lease-up period for comparable properties.
This approach, allowing rapid placement of residents from interim housing sites and encampment resolution programs, helped the project win a 2025 CoStar Impact Award, chosen by an independent panel of industry professionals within the market.
Judges recognized the eight-story development for its innovative financing, rapid lease-up process and impact on the region’s housing crisis.
Vida DTLA's nearly $43 million budget relied on Opportunity Zone funding, private equity — including backing from Costco cofounder Jim Sinegal — and financing from mission-driven organizations rather than traditional low-income housing tax credits.
The property at 1317 S. Grand Ave., a five-minute walk from a transit station, also leveraged Los Angeles' Transit Oriented Communities Incentive Program to maximize density and eliminate parking requirements.
About the project: Designed by Steinberg Hart, the eight-story development maximizes a compact 9,000-square-foot lot to create 48,192 square feet of residential space. The design incorporates community-focused amenities including large, shared kitchens. Nonprofits provide on-site supportive services for residents.
What the judges said: "We need more of these. Period. With economics like that there certainly is no excuse not to add many more units to help solve our homeless problem in this wonderful City," said Rob Le Moine, director of acquisitions at The Festival Cos.
They made it happen: Brad Padden, principal at Housing Diversity Corp.; Thomas Wong, associate director of unit acquisitions at LAHSA; Simon Ha, former principal at Steinberg Hart; Fredrik Nilsson, principal and design director at Steinberg Hart; Jason Claypool, senior associate at Steinberg Hart; Kayte Edson, director of development at STS Development Services; Craig Haveson, president at STS Development Services; Lisa Nitze, partner at OZ Navigator; and Peter Nitze, partner at OZ Navigator.