Four local affordable housing developments have secured $24.5 million in funding through a state finance program, San Diego County officials announced Friday.
The money, awarded through California’s Multifamily Finance Super Notice of Funding Availability program, is in addition to $29 million in county funding for the projects.
Gov. Gavin Newsom announced the allocation as part of more than $825 million in grants to accelerate affordable housing production across the state.
“This is such an exciting opportunity to expand the work we have already been doing to support more of our vulnerable San Diego neighbors and families,” said David Estrella, director of county housing and community development services. “We continue to focus on building opportunity for the next generation and fulfilling the Board of Supervisor’s goal to produce 10,000 units by 2030.”
The four county-funded developments, currently in the planning stages, will result in 359 units of affordable housing.
The description of the new projects, along with a breakdown of the new state funding:
- Union Tower in National City – 94 units for low-income families, awarded $11.5 million.
- The Iris at San Ysidro – 100 units for low-income families and people without a home who suffer from serious mental illness, awarded $5 million.
- Serenade on 43rd – 65 units for people without a home, awarded $3.7 million.
- Rancho Bernardo Transit Village – 100 units for low-income families, awarded $4.4 million.
The county’s Housing and Community Development Services department maintains nearly 7,600 affordable units in 109 developments throughout the county. More than 16,700 people call those units home.
The department is helping to fund 14 developments under construction, totaling 1,084 units, with 21 other projects on the horizon, for an additional 2,060 units.