Santa Rosa projects get $112 million from California affordable-housing acceleration fund
The John Stewart Company, proposing 127 units at its long-delayed The Cannery at Railroad Square in downtown Santa Rosa, has received $56.8 million out of a California fund intended to propel affordable housing projects, while MidPen Housing Corporation’s Mahonia Glen housing project in Santa Rosa has received $55.4 million to build 100 affordable units.
The were the only two North Bay projects to get funding as part of more than $923 million in the latest awards for such projects across California.
Gov. Gavin Newsom’s office said the money for the Sonoma County project is part of a $1.75 billion investment to provide bridge funding to shovel-ready projects that were otherwise unable to begin construction because of a shortage of federal tax credits and bonds.
In total, 27 statewide projects have been approved to date, with nearly all of the projects expected to break ground this summer, the office stated. When fully completed, the projects will create 2,300 housing units, 500 of which are for those experiencing homelessness. The Housing Accelerator prioritizes projects for those experiencing homelessness and for those below 30 percent of the Area Median Income.
“This new program is going to allow communities all over the state to move quickly, starting now, to build safe, affordable homes for their lowest-income households. It will mean more affordable housing for those who need it most, and affordable housing providers are committed to working with state leaders to support these vital investments for years to come,” said Executive Director of the California Housing Consortium Ray Pearl.
In March 2021, MidPen Housing announced plan to 3,000 homes in Northern California over the next five years, many of which will be for those with low incomes and the homeless. A few hundred of those dwellings are in the works for North Bay counties.
At the time the Journal reported projects in the pipeline as for the Foster City-based developer as: Casa Roseland in Santa Rosa: 75 units; Mahonia Glen in Santa Rosa: 99 units; 414 Petaluma in Petaluma: 41 units Napa Pipe in south Napa: 120 units; and Fair Haven Commons in Fairfield: 72 units.