Kennedy Wilson and Jamison are taking on a big Los Angeles affordable housing plan under a new partnership. The two are aiming to deliver 4,000 units across the city through ground-up development and adaptive reuse projects.

Through the new partnership, Jamison will leverage its recently debuted affordable housing division, Arden Residential and Kennedy Wilson will deploy its affordable housing venture, Vintage Housing.

Kennedy has a strong track record with Vintage Housing, which it acquired in 2015, growing it to 13,000 affordable housing units today, from 5,000.

The transformation of the former 400,000 square foot office will take place in phases, with the first one expected to start in August, which will deliver 241 units reserved for those making 30 to 80 percent of the area’s median income. The next phase will add 271 units.

Also, the partnership plans to target “transit-oriented, job-rich neighborhoods” in LA and provide housing to residents across a range of incomes and groups like seniors and needy families, according to Garrett Lee, CEO of Jamison.

“Kennedy Wilson’s Vintage Housing platform is the ideal partner given our shared long-term vision, institutional strength, and operational excellence, while Jamison will bring its deep local market knowledge and hands-on development expertise,” he said in a statement.

The first quarter for LA’s multifamily market continued a trend of more new supply coming online, according to a recent Colliers report. Deliveries reached 3,001 units, up from the 2,890 units seen in the same period a year ago, after completions increased by 24 percent annually in 2025. However, that’s putting pressure on occupancy, which fell by 110 basis points year-over-year to 93.9 percent at the end of March.