In a bold move that further establishes its position at the forefront of mission-driven development, Passo today announced the off-market acquisition of 11970 Santa Monica Boulevard. The approximately 17,200-square-foot parcel had not traded hands in nearly 50 years. Passo plans to develop a new affordable housing community comprising ~162 units, leveraging the Los Angeles ED-1 program. The future building will span nearly 80,000 square feet, delivering much-needed housing in one of West LA’s most desirable and supply-constrained neighborhoods.

Passo has more than 600 affordable housing units in various stages of construction and development. With total development costs exceeding $200 million, this milestone marks a significant acceleration for one of Los Angeles’s fastest-growing affordable housing developers.

Founded in early 2024, Passo has quickly differentiated itself by deploying capital with uncommon speed, clarity of purpose, and impact. The firm is focused on creating thoughtfully designed, high-quality communities in historically inaccessible locations – those with the greatest economic opportunity.

“This next chapter represents both scale and intentionality,” said Sabin Burrell, Principal at Passo. “We’ve thoughtfully built a pipeline across some of Los Angeles’s most competitive neighborhoods — not just to build units, but to create pathways to economic opportunity for Angelenos who’ve long been left behind.”

Passo’s model has drawn backing from several leading institutional investors and lenders, enabling the firm to execute at an accelerated pace. Its strategy is grounded in the conviction that affordable housing should not require compromising on location, quality, or dignity.

“We are fundamentally rethinking where and how affordable housing is built,” said Simon Aftalion, Principal. “Too often, affordability dictates isolation — placing people far from jobs, services, and opportunity. Our developments flip that script.”

The name Passo, which means “step,” underscores the company’s mission to help residents take the first meaningful step toward long-term economic independence.

“We chose the name intentionally,” said Daniel Glimcher, Principal. “We see each development not just as housing, but as a foundation from which individuals and families can springboard to economic prosperity. By building in proximity to employment centers and transit, we’re offering opportunities for mobility, security, and economic health.”

With 8 projects underway and a robust pipeline for the remainder of 2025 and 2026, Passo is setting the standard for the currently underserved Los Angeles affordable housing ecosystem. As the affordability crisis continues to escalate, Passo is proving that scale, speed, and social impact can not only coexist — but thrive.

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“This next chapter represents both scale and intentionality,” said Sabin Burrell, Principal at Passo. “We’ve thoughtfully built a pipeline across some of Los Angeles’s most competitive neighborhoods."