Esperanza Village in downtown Madera has 48 affordable units in two three-story buildings. Developers broke ground on the two lots caddy-corner to one another in November 2020. Photos via City of Madera

Madera city officials and developers cut the ribbon on a new affordable housing development this week.

Esperanza Village in downtown Madera has 48 affordable units in two three-story buildings. Developers broke ground on the two lots caddy-corner to one another in November 2020.

The units are all considered affordable and priced for individuals and families making 80% of area median income.

The first building has 28 studio and one-bedroom units. Across the way, the second building has 20 two-and-three-bedroom units.

 

Downtown Madera has not had an affordable housing development built in decades, said Michael Sigala of Sigala Inc., project consultant for Esperanza Village.

Average rent in Madera has climbed 27% to $1,132 since March 2019, according to RentCafe.

Rooms at Esperanza Village leased up in a month. There is already a waiting list, Sigala said.

Developers selected the site in part for its infill location. Grocery stores and banks are within walking distance.

A $11.3 million grant for the project from the California Strategic Growth Council’s Affordable Housing and Sustainable Communities program emphasized getting people out of their cars, Sigala said. Parking at the complex is limited to one space per unit, but a lot of the residents don’t have a car, especially in the single-bedroom building.

 

Residents also get a free transit pass. The City of Madera received $3.8 million to expand public transit throughout Madera. Part of the grant is an adult bike share program administered by the Madera Police Department.

The Redevelopment Successor Agency granted the property to the project. Other funding came from Madera County Behavioral Health Services, tax credit equity and private loans.

“This is truly a major accomplishment for Madera,” said Madera Mayor Santos Garcia. “It will change the face of our downtown and serve as an impetus for additional investment in Madera. It shows what a community that works together can accomplish.”

The project was developed through a partnership between MORES and Idaho-based The Pacific Companies.