SDS Capital has closed its SDS Supportive Housing Fund with $150 million in capital commitments. The fund will support the creation of 30 developments totaling 1,800 permanent supportive housing units for people experiencing homelessness in Los Angeles.

The fund sought private investment capital during its fundraising campaign. Kaiser Permanente committed $50 million from its Thriving Communities impact investment fund, which ultimately allowed the fund to scale efforts and raise capital in excess of $100 million. Other investors include Ally Bank, Synchrony Bank, Pacific Premier Bank, East West Bank, CIT Bank, the Weingart Foundation, Western Alliance Bank, Hudson Pacific Properties, Charles Schwab Bank, First Republic Bank, California Community Foundation, and the Annenberg Foundation.

As a result, it is able to build permanent supportive housing for less than half the cost of a typical development of this nature and three times faster. The expedited timeline is possible because the fund will provide 100% of the development costs, versus the typical capital stack for supportive housing of five to 10 capital sources.