Analysts initially praised the plan. But as empty rooms pile up, so do costs—interim housing placements, security contracts, staff salaries, and millions spent just to keep these “investments” from decaying.
 |
"Once hailed as a fast-track solution to California’s homelessness crisis, Project Homekey now looks like a billion-dollar boondoggle littered with empty buildings and broken promises.
"In Los Angeles County, shuttered motels meant to house the unhoused stand lifeless—fenced-off, vacant, and increasingly resembling abandoned movie sets rather than havens for the vulnerable, according to Westside Current.
"Meanwhile, a stone’s throw away, other properties funded by Homekey have become de facto homeless encampments, complete with tents and makeshift fire pits. Out of 2,157 rooms the county bought with $550 million, a staggering 71% sit empty. The city’s record is only slightly better, with 44% of its 1,237 units still unoccupied despite spending $820 million.
"The problem? Bureaucratic delays, ballooning costs, and questionable deals—like a luxury Mid-City apartment building the city bought for $36.5 million despite contractor liens, or a facility flipped for twice the price just days after a private buyer snagged it." . . .
No comments:
Post a Comment