Find the moment you remember.

Adam Millerat 39:27

of shelter in LA, which believe it or not did not exist. Wow. We've built technology for the whole ecosystem and we got into housing. So I started investing with affordable housing developers including Model Mhm. Z development. So I would started initially with Sola Housing Mhm. and working with Sola Impact on their projects and then Martin Muoto came to me with the idea for Model Z. I became the lead investor Mhm. for Model Z

Adam Millerat 40:00

with the first check written. I thought it was an incredible idea to build a modular manufacturing facility in South LA Mhm. to do affordable housing in LA. Yeah. And that's been a really effective program that I think is transformative for the space, which will dramatically lower the cost of building affordable housing and thereby enable much cheaper rents as it comes to affordable housing.

Adam Millerat 40:53

And you're like, "What the heck is this?" Yeah, so then I got even deeper into it with starting the Better Angels Affordable Housing Fund where we are literally ourselves now co-general partners with developers building affordable housing in LA. And the goal is to build it at a third of the cost in less than half the time of what the city is doing today.

Adam Millerat 42:56

…but there's clearly an opportunity in this model to also enable master leasing, Mhm. which we think is much needed by the city. My head of housing, Andre Bueno, comes from HACLA, Mhm. which understands the need for more affordable housing, the need for more workforce housing, the need to to leverage tools like master leasing to speed up the entire process and to stabilize faster. So, all these things enable not just the more rapid building of housing, but private sector market-rate returns