City unveils ambitious housing projects to combat crisis
June 14, 2024 | Fresno City, Fresno County, California
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In a recent joint meeting of the Fresno Revitalization Corporation and the City of Fresno, officials discussed the 2024-2025 budget for housing initiatives, totaling $6.26 million. This budget includes a carryover balance and an estimated program income of $300,000, with significant allocations for ongoing housing projects.
Key highlights from the meeting included updates on eight housing projects that will collectively provide 184 units. Notably, the Self Help project in Southwest Fresno is progressing, with the first group of 11 families expected to move into their homes by the end of this year. A second group of 11 families is anticipated to complete construction by the end of 2024.
Additionally, a partnership with the housing authority aims to develop 33 single-family homes, with construction expected to begin in June 2025 and conclude by September 2026. The Florence Walnut project is also underway, with six units under construction and a second phase set to begin later this summer.
In multifamily housing, the Hotel Fresno has begun leasing, with 60 of its 81 units occupied, and full occupancy expected by the end of summer. The Mural Lofts project, which will provide 28 units for workforce housing, is also on track for occupancy by the end of the summer.
The meeting also addressed funding allocations, emphasizing compliance with income requirements for housing assistance. The budget mandates that 30% of program income be directed to households at 30% of the Area Median Income (AMI), while 50% must serve those at 60% or below AMI. Currently, the agency is at its maximum expenditure level for households earning between 60% and 80% of AMI.
Looking ahead, the budget allocates $525,000 for personnel and operational costs, leaving over $2.77 million available for future projects. The agency is also moving forward with surplus land declarations for several parcels in Chinatown and Fulton Street, with negotiations underway following responses to a notice of availability for scattered sites in Southwest Fresno.
Key highlights from the meeting included updates on eight housing projects that will collectively provide 184 units. Notably, the Self Help project in Southwest Fresno is progressing, with the first group of 11 families expected to move into their homes by the end of this year. A second group of 11 families is anticipated to complete construction by the end of 2024.
Additionally, a partnership with the housing authority aims to develop 33 single-family homes, with construction expected to begin in June 2025 and conclude by September 2026. The Florence Walnut project is also underway, with six units under construction and a second phase set to begin later this summer.
In multifamily housing, the Hotel Fresno has begun leasing, with 60 of its 81 units occupied, and full occupancy expected by the end of summer. The Mural Lofts project, which will provide 28 units for workforce housing, is also on track for occupancy by the end of the summer.
The meeting also addressed funding allocations, emphasizing compliance with income requirements for housing assistance. The budget mandates that 30% of program income be directed to households at 30% of the Area Median Income (AMI), while 50% must serve those at 60% or below AMI. Currently, the agency is at its maximum expenditure level for households earning between 60% and 80% of AMI.
Looking ahead, the budget allocates $525,000 for personnel and operational costs, leaving over $2.77 million available for future projects. The agency is also moving forward with surplus land declarations for several parcels in Chinatown and Fulton Street, with negotiations underway following responses to a notice of availability for scattered sites in Southwest Fresno.
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