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City Council Approves Major Affordable Housing Project

September 17, 2024 | Walnut Creek City, Contra Costa County, California


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City Council Approves Major Affordable Housing Project
During a recent city council meeting, officials discussed a significant affordable housing project aimed at providing 93 units for low and very low-income families. The total estimated cost for the project is approximately $90 million, with the city contributing around $10.5 million, representing about one-eighth of the total funding.

A key development in securing funding was the recent approval of $24 million in ASIC (Affordable Housing and Sustainable Communities) funding from the State of California, which includes $20 million in loans and $4 million in grants. This funding will be directed to the affordable housing developer, not the city itself.

City officials expressed gratitude to the community development staff for their efforts in helping the developer qualify for various funding sources. The project has received the necessary approvals, and while construction documents are still pending, the city anticipates being permit-ready by May 2025. If all goes according to plan, construction could begin that same month, with the project expected to open by mid-2027, ahead of the previously set deadline of 2028.

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