Projects will assist low-income residents, veterans and formally homeless individuals
RIVERSIDE, Calif. – June 21, 2019 – The City of Riverside has received more than $32 million in funding from the state’s “No Place Like Home” and “Affordable Housing and Sustainable Communities” programs, money that will be used to construct 278 new, affordable housing units throughout the city.
The successful effort to attract state funding that will facilitate four new housing developments represents a return on investment of more than four times the City’s initial outlay, successfully leveraging Riverside funds for the benefit of residents who need safe and secure places to live.
“I’m especially pleased to see the State of California come forward as a partner to build these homes, including some that are attainable for hard-working people of limited means, veterans and our neighbors without homes,” Mayor Rusty Bailey said.
Riverside projects receiving state funding include:
- Mission Heritage Project, a 72-unit affordable housing project in the downtown neighborhood, with a 22-unit set-aside that will be reserved for veterans. This project is being built with $16.8 million in assistance from the Affordable Housing and Sustainable Communities Program, including more than $10 million for the housing project and $6 million for nearby integrated transit improvements. The City’s financial commitment is $3 million.