Sacramento: City Council Approves Historic Affordable Housing Development

Sacramento City Council Approves Historic Affordable Housing DevelopmentSacramento City Council Approves Historic Affordable Housing Development In a momentous step towards addressing the city’s pressing housing crisis, the Sacramento City Council unanimously approved a historic affordable housing development at Tuesday’s meeting. The project, known as “The Broadway District,” will provide much-needed homes for low-income families and individuals who have been struggling to find affordable housing options. The development, located in the Broadway neighborhood near Downtown Sacramento, will consist of two four-story buildings with a total of 120 units. Of these, 80% will be designated as affordable, with rents capped at 60% of the area median income (AMI) for low-income households. The remaining 20% of the units will be priced at market rate to generate revenue for operating costs and ongoing maintenance. The Broadway District will offer a mix of one-, two-, and three-bedroom units, ensuring that it caters to diverse household needs. Each building will feature amenities such as a community room, laundry facilities, and secure bike storage. The development will also include dedicated open space for recreational and communal activities. This development is particularly significant as Sacramento continues to face a severe shortage of affordable housing. According to the Sacramento Housing and Redevelopment Agency (SHRA), over 114,000 low-income households in the city are rent-burdened, spending more than 30% of their income on housing. Mayor Darrell Steinberg praised the project’s approval, stating, “This development represents a crucial investment in our community’s future. It will provide safe, stable, and affordable homes for our most vulnerable residents, helping to reduce homelessness and improve the quality of life for all Sacramentans.” The development is projected to begin construction in early 2024 and be completed by the end of 2025. It is part of the city’s ambitious goal to create or preserve 10,000 affordable housing units by 2025. With the unanimous approval of the Broadway District, the Sacramento City Council has taken a bold step towards addressing the city’s housing crisis. This historic development will provide much-needed housing options for low-income families, contributing to a more equitable and just community for all.