Four affordable housing developments with $16 million in County funding have secured an additional $59.4 million from the state’s new finance program.
The nearly $60 million in new funds were announced by Gov. Gavin Newsom as part of more than $141 million in awards to reduce homelessness and increase housing availability across the state.
The four developments are in the planning stages and will create 380 units of affordable housing. The developments are 73rd Street apartments, Encanto Gateway, Iris Avenue Trolley Apartments and Goodwin on Glacier.
- The 73rd Street Apartments in the College Area will be a 120-unit building serving those making 30%, 40% and 50% of County Area Median Income (AMI). The County previously provided nearly $7 million in funding and was just awarded an additional $18.48 million by the state.
- Encanto Gateway will be developed in Southeastern San Diego and provide 65 homes to low-income households and people experiencing homelessness. The state awarded $1.5 million, adding to the County’s $6.62 million investment.
- Iris Avenue Trolley Apartments in Otay Mesa will provide 64 units for low-income households making 30%-40% AMI. The County invested $3 million and now the state has awarded an additional $3.9 million.
- Goodwin on Glacier in Grantville will provide 131 homes for seniors 55 years and older on County surplus land. The state awarded $35.5 million to this development.
The new funding helps secure the viability of these affordable housing developments which generally require multiple funding sources and are unable to begin construction until being fully funded.
Since 2017, the County has invested more than $327 million in affordable housing, contributing to the opening of 2,901 homes with 3,072 more on the way.
In 2024, the County’s Housing and Community Development Services (HCDS) helped more than 20,000 people live in safe affordable housing. HCDS is committed to optimizing the use of County excess land, project-based vouchers, acquisition of land, new units, permanent supportive housing units and collaborative efforts with cities to preserve and expand opportunities to house San Diegans.
