SoLa Impact plans to build 188 affordable apartments at 43rd Street and Vermont Avenue in Los Angeles’s Vermont Square neighborhood. An April 1, 2025 announcement from Allivate Impact Capital outlines the project’s financing, affordability plan and use of factory-made modular units. It does not identify a permit filing, permit number or approval, so the available information does not establish that the project has moved closer to construction through a permit milestone.
What the project announcement says
The development is called the 43rd and Vermont Affordable Housing Project. Allivate Impact Capital describes it as a planned 188-unit project by SoLa Impact in Vermont Square. The announcement reports a project value of $63 million, a $12 million equity investment by the AIC CEI-Boulos Opportunity Fund, and $35 million in construction financing from Acore Capital facilitated by Walker Dunlop. These are figures reported in the announcement; it does not provide separate confirmation of a financing close.
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Who the apartments are intended to serve
According to the announcement, 80% of the apartments are planned for households earning at or below 80% of area median income (AMI) under HUD’s definition. The remaining units are planned for households at or below 110% of AMI under California HCD’s definition. It says the units will be subject to 55-year affordability covenants. These are announced plans, not evidence that covenants have been recorded.
The project is also intended to prioritize neighborhood residents who have experienced homelessness. The announcement says Section 8 vouchers will be used so residents pay no more than 30% of their income toward rent. SoLa Foundation and nonprofit partners are expected to offer workforce development, job placement, financial education and educational programs.
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How modular construction fits the plan
The announced design uses prefabricated Model/Z modular units manufactured in Watts. Allivate Impact Capital says the Model/Z facility produces 2.5 standardized units per day; that is a reported facility production rate, not a rate for installing units at this project. The announcement also projects 35% less material waste and embodied carbon emissions. Those figures are projections attributed to the investor, not measured results from construction at 43rd and Vermont.
In the announcement, SoLa Impact CEO Martin Muoto said: “At SoLa Impact, we are committed to developing high-quality, affordable housing in underserved communities.” Allivate Impact Capital CEO and Managing Director Noelle St.Clair Lentz described the project as combining affordable housing and tenant services with jobs created through modular construction. Her statement describes the project’s intended benefits, rather than independently verified outcomes.
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What is known about permits
The April 1, 2025 announcement does not give a permit number, filing date, responsible agency or approval status. It therefore cannot substantiate a claim that a permit has been filed, issued or approved. A reader seeking the project’s current entitlement or construction status would need a relevant agency permit record or another reliable, dated update.
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Allivate Impact Capital, “AIC CEI-Boulos Opportunity Fund Invests $12 million in SoLa Impact’s 43rd and Vermont Affordable Housing Project, Developing 188 Apartments Using Model/Z Modular Units,” April 1, 2025. Allivate Impact Capital newsroom.
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