Image via WIkipedia user Jcarrello.
Written by The Business Journal Staff
The City of Madera and MORES (Madera Opportunities for Resident Enrichment and Services) a nonprofit community housing service, have been awarded $11.3 million from the California Strategic Growth Council for the Downtown Madera Veterans and Family Housing Project.
This is Madera’s first time applying for the competitive funding opportunity. The Madera Project was the highest scoring project from the San Joaquin Valley, and one of the highest in the state.
“This is truly a major accomplishment for Madera. 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,” said Madera Mayor Andrew Medellin.
The grant money will go towards the construction of a 48-unit community that will provide affordable housing options for veterans, seniors and families.
The project will be on sites that are publicly owned vacant infill parcels and includes two three-story buildings in downtown Madera.
Approximately $3.8 million of the grant money will go to the City of Madera for transit, pedestrian and bike improvements throughout downtown, which will include 27,000 linear feet of new sidewalks and an adult bike share program that will be implemented by the Madera Police Department.
The project is meant to develop affordable housing for extremely-low to low-income households earning between 30% and 60% of the area median income.
The total cost for the project is $25.8 million.