You had to win a lottery — literally — to make the cut when the building opened in January of 2016. The Woods is an affordable housing project for low-income people 62 and older. It’s not as if there are no answers when it comes to building more affordable housing. What that means is that banks and other investors got a federal tax break for investing in affordable housing. In 2011, the city of Glendale sued an affordable housing developer for inflating construction costs and other fraudulent activity, a case that ended in a $3.5-million payment to the city.

Source: Los Angeles Times August 26, 2017 15:00 UTC