Daylight Community Development
Daylight Community Development is a social affordable housing venture targeted at ending chronic homelessness in Los Angeles.
By taking advantage of recent zoning and regulation changes, newly available public funding sources, and modular construction, Daylight is paving a path forward in building critical housing faster and cheaper with maximum social impact. Founded in 2018 by three UCLA Anderson MBA graduates students while still in graduate school, the Daylight Community Development team has grown their development pipeline to five projects totaling 207 new affordable housing units.
Daylight Community Development is to receive $23.8 million to build 132 supportive units in shipping containers, awarded as part of the City of Los Angeles’ $120 million housing innovation challenge funds under Proposition HHH. As part of the development strategy, a portion of the HHH funds would be repaid after three years with private, social impact financing (read more at LA Times).