For Immediate Release
Huascar Robles: hrobles@lahsa.org
For its innovative master leasing strategy, the Los Angeles Homeless Services Authority was named one of 25 finalists for the Ivory Prize, which recognizes ambitious but feasible solutions to housing affordability and is designed to award innovators for their efforts and provide material support to advance their work.
The Ivory Prize is awarded by Ivory Innovations, which operates as an applied academic institution at the University of Utah's David Eccles School of Business.
The Ivory Prize is awarded to three winners, one each from three key areas: Construction and Design, Finance, and Policy and Regulatory Reform. LAHSA’s Master Leasing program was a finalist in the Policy and Regulatory Reform category.
“We’re proud that LAHSA’s innovative Master Leasing program is being recognized, because it illustrates so perfectly that when public agencies, private developers, and other partners align their goals and resources, we can create much-needed permanent housing to end homelessness for our unhoused neighbors,” said LAHSA CEO Dr. Va Lecia Adams Kellum. “We’re grateful to Ivory Innovations for its work highlighting innovation in housing creation, which is vital to solving the crisis on our streets.”
LAHSA’s Master Leasing program is a critical piece of LAHSA’s strategy to move people experiencing homelessness into permanent housing faster. Through Master Leasing, LAHSA essentially becomes a building’s landlord, removing many of the barriers that keep our unhoused neighbors from finding a permanent home.
LAHSA’s master leasing strategy is funded by a partnership of the County of Los Angeles and L.A. Care Health Plan and Health Net. To improve the efficiency of the rehousing system, LAHSA’s effort aims to secure apartments on the private rental market and lease them directly to people experiencing homelessness. Using the combined advantages of leasing entire buildings with the results-oriented prioritization process, LAHSA has filled master leasing buildings in 3-5 days instead of the previous 120 days.
“Master Leasing is a game changer that shows the upper bounds of what is possible for addressing homelessness through public-private partnerships,” said Kris Freed, LAHSA chief executive strategist. “We’re glad it’s starting to earn recognition for what it’s doing in Los Angeles and what it could do across the country.”
During the month of April, Ivory Innovations will choose one winner from each of the categories. Those three winners will split a $300,000 grand prize.
“We are passionate about increasing the impact and scale of new ideas with the potential to improve the housing ecosystem,” said Brooklyn Lindsey, Director of Innovations, Public Policy & Legal Affairs at Ivory Innovations. “The organizations recognized this year in our Top 25 group are notable for the strength of their innovations, focus on affordability, and optimism to build solutions that can make a real difference for the country.”
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