An empty warehouse and vacant lot along Stockton Boulevard will soon be home to hundreds of affordable housing units in Sacramento, reports KCRA3.
The Sacramento City Council voted on Tuesday, May 11, in favor of a resolution that will grant a $10 million loan to Mercy Housing California Sacramento, a nonprofit developer.
They will develop an affordable housing project south of Aggie Square at the UC Davis Medical Center.
The housing is part of the city's Aggie Square project, a $1 billion plan to expand UC Davis' Sacramento campus.
"This is a significant step in meeting the needs of the neighborhood and ensuring that the development of Aggie Square becomes a positive for the surrounding communities," said Vice Mayor Jay Schenirer.
Aggie Square is a state-of-the-art medical research facility and is expected to bring in hundreds of jobs to the area.
The project will be funded by a $31.5 million housing fund in the general budget as well as funding from Measure U.
Measure U was approved by voters in November 2018 and is a one-cent sales tax.
According to city leaders, Measure U funds are meant to be used to build and bolster an inclusive economy, create jobs, and provide housing that is affordable to everyone in the community.
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