[The following final update was written by the organization and then sent to us for further sharing.]

This LA2050 grant allowed us to deepen our resident-led housing preservation model and meet, even exceed, the goals we set out to achieve.

We committed to preserving at least one rent-stabilized building.

Through this grant, we secured two:

• Hancock (acquired): A 5-unit building in Lincoln Heights where longtime tenants had been targeted by speculators and displacement threats.
• Chapman (in escrow): A 12-unit building in Glassell Park, home to 40+ working-class residents, many of whom proactively organized and requested LA Más’ support.

People Benefited

• 100+ Angelenos actively engaged through our community housing work.
• 60+ residents remain stably housed as we preserve affordability for our three properties.
• 20+ residents participated in resident decision-making, co-stewarding the repairs and improvements of two properties. Their leadership helped repair priorities, shape affordability terms, and co-create resident agreements.
• 17 Northeast LA residents make up our Community Governance Committee (CGC), which actively shapes programming, housing strategy, and long-term stewardship planning.
• 50+ active members are organizing through NELACHA (Northeast LA Community Housing Alliance). This alliance helps identify at-risk buildings and guide preservation priorities, and remains central to our organizing and decision-making approach.

Each of these groups reflects LA Más’ approach to shared ownership and collective care, tenants are not just housed; they are at the table, co-stewarding what gets preserved and how.

Indicator Metrics Impacted

• Rent-Burdened Households: Hancock and Chapman house residents who pay well below market rent (most under $1,000/month) compared to Glassell Park’s average of $2,000+ for similar units.
• Our model directly interrupts displacement by preserving existing rent-stabilized homes and removing them from speculative markets permanently.

Community Engagement

• At Hancock, resident leaders co-designed repair priorities.
• At Chapman, residents initiated the relationship, asking LA Más to intervene in a cash-for-keys buying arrangement. Their organizing ensured we could enter escrow with community support already in place.
• Across both sites, over 50 residents participated in walk-throughs, design discussions, governance meetings, and stewardship planning.
• Our CGC and NELACHA partners played an essential role in screening opportunities, vetting financial strategies, and keeping decisions accountable to community needs.

Additional Funding Catalyzed

This grant seeded confidence in a preservation model led by community and unbound by public subsidy timelines. It catalyzed nearly $3.5M in capital, including:

• $2.9M in mission-aligned debt-like equity from Self-Help Ventures Fund, now a trusted partner and co-investor in our preservation strategy.
• $600K in philanthropic commitments in the form of Program Related Investments to serve as LA Más’ equity in projects
• Interest towards Nuestra NELA, a new, $12M community-rooted fund for rent-stabilized housing preservation, designed to move at the speed of community, with resident input shaping every investment.

Together, these investments are helping redefine what’s possible when capital flows in service of people, not profit.

The project was implemented as outlined in our LA2050 grant proposal. While our proposal originally committed to preserving one rent-stabilized building, the flexibility and trust-based nature of this funding allowed us to go further. We acquired Hancock and entered escrow on Chapman, our second and third community-led housing properties. This expansion was only possible because LA2050’s support was unrestricted, timely, and aligned with our values.

Major Accomplishments

• Preserved 5 units at Hancock with zero displacement and an invitation for working class neighbors to move into 2 newly renovated units at affordable rents.
• Maintained affordability for all tenants, with most paying under $1,000/month.
• Entered escrow on Chapman, after tenants organized and asked LA Más to intervene as a values-aligned buyer.
• Embedded resident voice at every stage, from deal vetting to repair priorities and stewardship planning.
• Launched early-stage development of Nuestra NELA, a community-governed preservation fund modeled after the values and lessons of these acquisitions.

Together, these accomplishments represent a growing proof-of-concept for what community-rooted housing preservation can look like in Northeast LA.

Original Objectives:

• Preserve one rent-stabilized property
• Keep long-term tenants housed without rent hikes
• Pilot community governance in preservation deals
• Build capacity for future property acquisition

What We Achieved:

• Acquired Hancock
• Secured Chapman and funding to close escrow
• Maintained affordability across all units, with no rent hikes post-acquisition
• Embedded tenant leadership into every phase of the project
• Strengthened internal infrastructure, including new evaluation tools, deal assessment processes, and governance protocols to set us up for future growth

Additional Outcomes:

• Demonstrated a replicable preservation model without reliance on public subsidy
• Attracted new funders and aligned capital partners, including Self-Help Ventures Fund, WHH Foundation, and others.
• Inspired growing resident interest in long-term stewardship and collective ownership

Addressing Challenges

In a speculative housing market, one of our biggest challenges was deciding which properties to prioritize. We reviewed multiple at-risk buildings, but chose depth over scale, focusing on properties where resident leadership and long-term affordability could be safeguarded.

We also encountered rising insurance and rehab costs, which is a persistent trend in LA. We responded by deepening relationships with trusted contractors and proactively adjusting our budgeting strategy to ensure funds went toward long-term habitability and dignity.

Evaluation Process & Resident Feedback

We measure success in partnership with residents. At Hancock, tenant feedback has been clear: the most meaningful outcome is stability, the ability to stay in the homes they’ve lived in for decades, without fear of eviction or unaffordable rent hikes.

We also track:

• Resident retention: 100% retention post-acquisition at Hancock
• Affordability: All units remain below-market
• Stewardship participation: Tenants directly involved in post-acquisition planning and repair prioritization
• Our model doesn’t just preserve buildings, it preserves belonging.

Lessons Learned

• Speed matters, but only when it’s grounded in trust. Fast action made both Hancock and Chapman possible, and it is relationships with residents that sustains this work.
• Organizing is preservation of neighborhood infrastructure. Both acquisitions were surfaced by tenant leaders.
• Capital alignment is critical. Not all money supports community priorities. This experience reinforced the need for vehicles like Nuestra NELA, built around care and shared power.

Our most significant partnership is with Self-Help Ventures Fund, who provided debt financing for both Hancock and Chapman and worked with us to develop tools for values-aligned underwriting.

Our housing preservation work was featured in several local media outlets and community newsletters. Our projects have been highlighted in conversations around community-based housing models in Northeast LA. We’re proud to have a LA Times front page feature on our housing work. Details here.

What’s Next

We’re continuing this work. Our next step is closing on Chapman in mid-November, completing essential repairs, and building out a long-term stewardship plan alongside residents. In addition, we’ve launched the Nuestra NELA fund, shaped by this LA2050-backed work and designed to preserve 50+ more rent-stabilized buildings with community governance at the core.

This grant played a critical role in growing an ecosystem of community-rooted ownership, co-governance, and care. We’re building on this momentum to ensure more of our neighbors can stay rooted, and more capital flows in service of people.