A planned mixed-use affordable housing development in central Fresno is getting a $16 million investment from the state of California.
The California Strategic Growth Council has awarded money from the state Affordable Housing and Sustainable Communities Program to help fund the mixed-use housing development at 1501 N. Blackstone Ave.
The Fresno City Council approved the project, which would include retail and office space on the bottom floor, back in December.
“This was a collaborative effort between City leaders, the developer and the community to bring much needed affordable housing and attractive amenities to the Blackstone Corridor,” Fresno Mayor Lee Brand aid in a press release. “This is exactly the kind of project that will bring a dynamic addition to our central city and increase the momentum that is already building along Fresno’s most famous street.”
The estimated total cost of the development is $38 million. The state funding will cover $12.5 million for construction and $3.4 million for city infrastructure improvements in the area.