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LOS ANGELES — AHF has purchased the historic Insurance Exchange Building in downtown Los Angeles through its Healthy Housing Foundation banner for $21.2 million. The global AIDS organization plans to renovate and convert the 12-story property into housing for the homeless and extremely low-income individuals.
The building will be rebranded as Angel Tower. Once renovation is complete, AHF’s total number of affordable rental housing units across Greater Los Angeles will reach 1,666.