Paul Iantorno, a high-end fashion entrepreneur turned real estate professional, has worked with the San Francisco-based real estate firm Golden Properties, LLC for more than 14 years. Alongside luxury condominiums and single family units, Paul Iantorno collaborates with Golden Properties to increase housing stock for low-income people to help California tackle its housing crisis.
In addition to a shortage of affordable properties, homelessness is growing problem in California. Proposition 2 was introduced on the state’s 2018 midterm ballot to provide more funding for mental health services and housing for homeless residents. The measure passed with just over 61 percent of the vote.
As a result, the California government can use tax collected from high-income earners to back two billion dollars in municipal bonds. These bonds will fund housing projects through the No Place Like Home initiative that will build temporary accommodations for mentally ill individuals to be used as they undergo treatment.
The funding will also be used to create permanent housing for the chronically homeless and increase the capacity of financial assistance programs such as the Supplemental Security Income and the State Supplementary Payment initiatives.
