Los Angeles Spends $600,000 Per Unit on Homeless Housing
Funds from a voter-approved $1.2 billion bond to address homelessness in Los Angeles are not stretching as far as expected, as the average cost of housing projects in construction was $600,000 per unit in 2021 – and 14 percent of units in construction cost more than $700,000 per unit – Los Angeles City Controller Ron Galperin reported February 23. “If nothing changes, … costs could soon reach $900,000 or $1 million per unit,” Galperin predicted. The per-unit cost was $530,000…