With homelessness and the cost of housing rising fast, pressure is mounting for innovative approaches to build more housing in less time and for less cost. Over a year ago, Genesis LA launched a program called RETHINK Housing, to literally "rethink" the way we finance, design, and build affordable housing. Our approach targets smaller sites for development of 2-20 units, where thoughtful design, "by-right" permitting, and streamlined financing can significantly reduce development costs.
We usually work with a "one-stop-shop" team of experts that includes Restore Neighborhoods LA (development), Lehrer Architects (design), and Genesis LA (finance), a team that coordinates all aspects of project development to maximize efficiency. We also partner with specific service providers based on the project location and development program, to match the most appropriate residents and services with each site.
Currently, we have one RETHINK Housing project in construction and four more in predevelopment. Our projects include both shared housing and single studio units and usually have total developments costs that are between 1/4 to 1/3 of the cost of traditional affordable housing.