FlyawayHomes LLC was founded to help end homelessness sustainably. It does so by building permanent supportive housing without dependence on government funding or charitable donations--using social impact equity or other private funding methods.
The Need: The latest homeless count estimates that there are over 57,000 homeless in the City of Los Angeles, an increase of 23% over 2016. LA voters responded to our growing crisis by passing Proposition HHH in November 2016, which provides $1.2 billion in tax exempt funding to build permanent supportive housing over the next 10 years. However, with construction costs topping $450,000 per unit, this measure will only provide about 2,600 unites of housing--even fewer than the almost 11,000 people who became homeless over the past year and nowhere near enough to solve the crisis.
The Solution: FlyawayHomes was created to develop permanent supportive housing in the greater LA area. It was founded on the principal that in order to solve our homeless crisis, permanent supportive housing must be built as an economically viable investment vehicle, providing a reasonable return to investors--without the need for government funds or private donations.
The key is to reduce the cost of construction. FlyawayHomes has partnered with GrowthPoint Structures, a company that is manufacturing modular housing unties from repurposed shipping containers. By making it a "product" (stamped and approved by the State of California) instead of a traditional "building," GrowthPoint ia able to reduce the total construction time for a project to six months versus a 2-3 year project for traditional construction. Additionally, in working with GrowthPoint and its team of experienced architects, engineers and other consultants, FlyawayHomes has been able to reduce the total cost per client to about $109,000.
FlyawayHomes has partnered with The People Concern, a leading LA homeless services organization, which master leases the building, furnishes the units, places prospective tenants based on compatibility and provides supportive services to the tenants.
Click here for a Los Angeles Times story on the first project of FlyawayHomes, a $3.6 million residential community for 22 previously homeless individuals in South LA.
Product or Service:
Housing for homeless
Steaven K. Jones
Social Benefit Corporation:
Certified B Corporation:
Triple Bottom Line Corporation: