A Community of Friends (ACOF) was founded in 1988 with the goal of developing housing for individuals and families with special needs. The success of the organization has been unprecedented, allowing an expansion of the scope of projects while maintaining the integrity of the mission. ACOFs core mission is to develop affordable housing and to collaborate with community-based service agencies in offering residents a variety of on-site supportive services. Through this model ACOF is able to provide housing for homeless, disabled and very low-income persons creating permanent, affordable housing and an environment that promotes stability.
ACOF has completed 1,270 units in thirty-four properties, primarily throughout Los Angeles County, and has ten properties in development. Completed projects include substantial rehabilitation and new construction and range in size from 9 to 114 units. Total development costs for each project range from $600,000 to $14.6 million. ACOF secures all project financing, performs community outreach, assembles the project team and manages the project through all phases of development, construction activity and lease-up. Additionally, ACOF plays an active on-going role in the management of its properties including tenant selection, maintenance, resident manager selection and preparation of documentation required by investors.
ACOF functional staff areas include: project development; residential services; asset management; accounting and human resources. The project management staff is equipped with graduate degrees in urban planning, business, architecture, real estate finance, and possesses over 60 years of cumulative experience in affordable housing financing and development. The residential services staff has expertise in supportive services coordination, with cumulative experience in these functions exceeding 35 years.