#1,564 - One of LA’s Skid Row’s homeless housing providers on verge of bankruptcy and foreclosure

Skid row’s flagship owner and operator of subsidized housing is on the verge of financial collapse and seeking a lifeline to keep its doors open for more than a thousand low-income tenants.

Skid Row Housing Trust, a pioneer in the decades-old movement to revive aging downtown real estate as homeless housing, has been working with other housing providers to take over its 29 buildings.

In a series of meetings Tuesday briefing the staff on the organization’s impending changes, interim chief executive Joanne Cordero sought to assure the 165 employees that other philanthropic and housing organizations are stepping in to ensure that their work will continue and that no one will lose their home.

“Everybody is coming together to help figure this out and to support the residents,” Cordero told The Times in an interview.

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