Los Angeles plans $360 million in affordable housing funded by mansion tax

Fri, 10 Apr 2026 01:49:00 +0200

Los Angeles Mayor Karen Bass, along with City Councilmember Ysabel Jurado, has proposed allocating over $360 million to developers and nonprofits to build and preserve affordable housing across the city. The plan, pending City Council approval, aims to support 80 projects, which include constructing 1,528 new units and renovating more than 2,500 existing units. The funding comes primarily from the city's United to House L.A. tax, commonly known as the 'mansion tax,' which taxes high-value property sales. Since its introduction in 2022, this tax has generated over $1.1 billion, though much of it has not yet been spent due to legal concerns. This initiative follows prior spending plans of $150 million in 2023 and $425 million in 2025. Among the funded projects is a 100-unit housing development near Crypto.com Arena. Additionally, Bass and Jurado announced a $14 million Emergency Income Support Program, which will provide financial assistance to qualifying households experiencing rent bur