Linc Housing Secures $39.8M LACAHSA Award for 109-Unit Affordable Housing Development in Long Beach
LONG BEACH, Calif. — Linc Housing has secured a $39.8 million financing award from the Los Angeles County Affordable Housing Solutions Agency (LACAHSA) to support the development of a 109-unit affordable housing community at 3590 Elm Avenue in Long Beach, the nonprofit developer announced June 3.
The funding, drawn from the newly established Measure A investment structure, was highlighted at a special event hosted at Linc Housing's Long Beach headquarters, where regional leaders, housing advocates, nonprofit partners, and community members gathered to showcase the agency's early funding results.
Financing Backed by Measure A
The $39.8 million package represents one of LACAHSA's first major financing awards under its newly established funding structure, which is designed to accelerate affordable housing production and homelessness prevention across Los Angeles County. The planned development at 3590 Elm Avenue is situated on the same site as Linc Housing's Long Beach headquarters. The 109-unit community is intended to provide affordable homes for families earning between 30% and 70% of the area median income, addressing what the organization described as a growing need for stable housing in the city.
Additional financing components such as tax-credit equity, bond financing, or a construction timeline were not disclosed in the source material.
Regional Leaders Emphasize Coordinated Strategy
Long Beach Mayor Rex Richardson, who also serves as chair of LACAHSA, spoke at the event about the importance of a coordinated regional approach that links affordable housing production with homelessness prevention and local implementation.
"Addressing the housing crisis requires us to think beyond a single solution," Richardson said. "Together, these investments strengthen communities, create jobs, and deliver long-term stability for residents across Los Angeles County."
Suny Lay Chang, President and COO of Linc Housing, described the award as more than a financing milestone for the organization.
"LACAHSA's investment is a catalyst for the affordable housing Long Beach families desperately need," Chang said. "This funding changes the equation, giving families the stability to not just get by, but to truly build their lives here."
Broader Investment Round Targets 1,530-Plus Units Countywide
The 3590 Elm Avenue award was announced as part of a broader LACAHSA investment round that also recognized homelessness prevention and local housing initiatives, including programs operated by Interval House and the City of Long Beach. Collectively, the investments highlighted at the event are expected to support more than 1,530 housing units, house over 3,157 residents, generate approximately $1.1 billion in economic impact, and create nearly 4,750 jobs countywide, according to LACAHSA.
Project Context
The 3590 Elm Avenue project involves developing a new affordable housing community on the site of Linc Housing's existing Long Beach headquarters. The project's income targeting — serving households at 30% to 70% of area median income — places it in a segment of the housing market that typically requires public subsidy to achieve financial feasibility. The LACAHSA award is intended to help advance the project, though specific timelines and additional capital stack components were not disclosed in the source material.
Linc Housing described the 3590 Elm investment as a demonstration of how collaborative, regional approaches can accelerate meaningful housing solutions across Los Angeles County. A projected construction start or delivery date for the development has not been disclosed.
Sources
Linc Housing — Elm Avenue Wins LACAHSA Funding Award (June 3, 2026)