SACRAMENTO, Calif. — A new affordable housing project may soon break ground in Sacramento thanks to funding from the state.
The project is a proposed five-story development that will have 134 affordable homes according to the Sacramento Strategic Growth Council.
Sacramento is receiving over $38 million in state funds.
The development, named Sakura, will be located in downtown Sacramento. The city of Sacramento released the following statement on being selected.
"As the State’s first designated Prohousing community, the City of Sacramento is thrilled about the Affordable Housing and Sustainable Communities award to the Sakura Project in downtown Sacramento. Not only will this award provide needed funding for the development of 134 units of affordable housing for our partners CADA and Mutual Housing, but it will also include funding for the City to make bicycle, pedestrian and public transit improvements to the S Street corridor."
Sakura will offer classes, led by Mutual Housing California, focused on financial and digital literacy, and health and wellness.
A little over $12 million of Sakura’s funding will go toward building a new light rail station and other rail improvements, including an investment in Sacramento’s zero-transmission rail car transition.
Sakura is one of 24 statewide projects receiving $789.9 million to help build affordable housing and improve infrastructure.
“Today, we’re reinvesting more than three-quarters of a billion dollars generated through cap-and-trade funding to build thriving and affordable communities for California families,” California Governor Gavin Newsom said in a statement.
This is the eighth round of funding distributed through the Affordable Housing and Sustainable Communities program. The newest round brings the total investments to $3.8 billion.
The development of Sakura is being led by a partnership between Mutual Housing California and the Capitol Area Community Development Corporation.
WATCH RELATED: More legal issues ahead for Fair Oaks-based company
