A Community of Friends
Founded in 1988, A Community of Friends (ACOF) is a nonprofit affordable housing developer for people with special needs. Our mission is to end homelessness through the provision of quality permanent supportive housing for people with mental illness.
Our approach is to collaborate with community-based service agencies to offer tenants a variety of on-site supportive services. Through this model ACOF is able to provide housing for homeless, disabled and very low-income persons – creating permanent, affordable housing and an environment that promotes stability.
ACOF is one of the largest nonprofit affordable housing developers in Los Angeles County, with an aggressive production schedule. To date, ACOF has completed over 1,700 units in 43 properties, primarily throughout Los Angeles County, and has several properties in development. Thirty-eight (38) of the projects are currently in ACOF’s portfolio in communities as diverse as Santa Monica, Pico-Union, Hollywood, Koreatown, North Hills, South Los Angeles and Boyle Heights.
Completed projects include substantial rehabilitation and new construction and range in size from 9 to 114 units. Total development costs for each project range from $600,000 to $30.2 million. ACOF secures all project financing, performs community outreach, assembles the project team and manages the project through all phases of development, construction activity and lease-up. Additionally, ACOF plays an active on-going role in the management of its properties including tenant selection, maintenance, property manager selection and preparation of documentation required by investors.
ACOF has demonstrated its expertise in affordable housing development by structuring and securing over $400 million in financing from the Los Angeles Housing Department, various redevelopment agencies, State Department of Housing and Community Development, Low Income Housing Tax Credits, HUD project-based Section 8 and Shelter Plus Care rental subsidies, HUD Supportive Housing Program capital grants, and conventional loans.
ACOF serves as developer and owner or managing general partner (in tax credit limited partnerships) for properties in Santa Monica and the Los Angeles communities of Hollywood, Koreatown, North Hills, South Los Angeles, Van Nuys, Willowbrook, San Pedro, Silver Lake, and Boyle Heights, as well direct involvement in two projects in San Diego and four in Orange County. ACOF has begun work on a new generation of projects to serve homeless and low-income persons, including transit-oriented developments, supportive housing for veterans and mixed-population housing.