Lessons From California’s Homekey Program: Adding Affordable Housing by Buying Market-Rate Apartment Buildings

While best known for helping local governments purchase and convert underused motels into supportive housing, California’s Homekey program has also been used by the Housing Authority of the City of Los Angeles to acquire nine new market-rate buildings to lease at affordable rents to low-income tenants. This study analyzes the Homekey program to provide recommendations for policymakers.

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