San Diego receives US$24.5 million for affordable housing projects

Category: News
Published: 2023-02-21
San Diego receives US$24.5 million for affordable housing projects

SAN DIEGO, CA – Four affordable housing developments with $29 million in funding from San Diego County have secured an additional $24.5 million in funding through the California Multifamily Funding Availability and Finance program.

The $24.5 million in new funding was announced by Governor Gavin Newsom as part of more than $825 million in grants to accelerate affordable housing production statewide, San Diego County reported.

“This is such an exciting opportunity to expand on the work we’ve already been doing to support more of our vulnerable San Diego neighbors and families,” said David Estrella, Director of Housing and Community Development Services for the County.

Estrella commented that the County will continue to focus on building opportunities for the next generation and meeting the Board of Supervisors’ goal of producing 10,000 units by 2030.

The four County-funded developments in the planning stages that will be supported through the program will result in 359 affordable housing units. They are Union Tower, The Iris at San Ysidro, Serenade on 43rd and Rancho Bernardo Transit Village. 

Union Tower will be a 94-unit building for low-income families in National City. It has been awarded $11.5 million under the new program.

The Iris at San Ysidro will be a 100-housing complex for homeless individuals with serious mental illness and low-income families, which was awarded an additional $5 million.

Serenade on 43rd will provide 65 units for homeless individuals with and without serious mental illness. This project received an additional $3.7 million. While Rancho Bernardo Transit Village received $4.4 million to provide 100 units for low-income families. It has received another $4.4 million.

San Diego County Housing and Community Development Services helps more than 35,500 people live in safe, affordable housing. The department maintains nearly 7,600 affordable units in 109 developments throughout the county, with more than 16,700 people living in those homes.

Currently, HCDS helps finance 14 projects under construction, totaling 1,084 units, and 21 more in the pipeline, totaling 2,060 units.