More than $15 million dollars is being spent on an historic downtown Los Angeles hotel to provide immediate housing for the homeless.

The AIDS Healthcare Foundation has bought the 1906 King Edward Hotel, located on the edge of Skid Row.



The Foundation is flipping 150 rooms into transitional and longer-term housing.

Foundation president Michael Weinstein says city and county officials aren't working fast enough to house the homeless population.



"If we had a earthquake today, we would have to come up with emergency shelter for many people," he said. "And we would somehow be able to do that. But somehow we are not treating the person who has to put their head on the sidewalk in that same fashion."



The hotel is the third property that's been bought by the Foundation in the past six months. Unlike the other properties, the King Edward will not be used to house families, but rather will service adults who are battling chronic illness.

Weinstein expects rooms to be open and ready for clients by next week.