Homeless Housing In Santa Monica Hits $1 Million-Per-Unit Milestone [Yahoo! Finance]
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Source: Yahoo! Finance
Monica city officials have approved an apartment project for the homeless that will cost about $1 million per unit to build. The $123 million project will include 122 studio, one-, two- and three-bedroom apartments, ground-floor retail and residential and commercial parking spaces. The project was approved days after an audit revealed that the state spent about $24 billion from 2018 to 2023 to combat homelessness but did not track whether spending the public money improved the crisis. "Moving forward in bringing affordable and permanent supportive housing to city-owned land is a key step in our strategy to fulfill our Housing Element requirements," Mayor Phil Brock said. "I look forward to the next steps and ultimately seeing new families move into these new homes and thrive." Don't Miss: Investing in real estate just got a whole lot simpler. This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100. Elon Musk Is Bullish On
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