Gov. Newsom announces $567 million for new affordable housing

By SDCN Editor

Sacramento, CA–Governor Gavin Newsom announced that $567 million is now available statewide to build much-needed multifamily affordable housing. 

This is part of the California Department of Housing and Community Development’s second round of funding under a streamlined, combined application across four programs which have to date provided over $1.3 billion to expand affordable, climate-smart, multifamily housing in California.

The first round of Multifamily Finance Super Notice of Funding Availability awards announced in February totaled more than $825 million and launched the development of 9,550 homes in 58 communities across California.

Increasing and preserving California’s housing supply, including affordable housing, is a top priority for Newsom. He recently signed over 70 housing-related bills and 20 CEQA reform bills to cut red tape and get more housing built, faster. Since taking office, the Newsom Administration, in partnership with the Legislature, has invested $30 billion in housing-related programs. Governor Newsom is focused on holding local governments accountable for planning for 2.5 million new homes by 2030, with at least one million of those homes being affordable housing – as required by state law.

“Despite challenging economic conditions, California is keeping our commitment to spur the development of needed housing in all 58 counties,” Governor Newsom said. “We’ll continue to provide major funding and resources, coupled with strict accountability measures, to tackle the housing shortage that threatens California’s growth and long-term prosperity.”

Housing and Community Development is working to reduce barriers that constrain the growth of much-needed multifamily housing, making it easier for developers to apply to four different funding programs in a single application through the Super Notice of Funding Availability. The agency released guidelines for the $576 million 2023 

Super Notice of Funding Availability, along with a notice of funding availability for Multifamily Housing Program, $236 million, Infill Infrastructure Grant Program, $168 million, Joe Serna, Jr., Farmworker Housing Grant Program $110 million, and Veterans Housing and Homelessness Prevention Program, $62 million.

“Governor Newsom has been resolute in addressing a housing supply deficit that has been decades in the making, and this new funding will lead to the construction of thousands of climate-friendly homes near economic opportunities,” said Business, Consumer Services, and Housing Agency Secretary Lourdes Castro Ramírez. “We look forward to applications from communities across the state to build homes for hard-working farmworkers, unhoused veterans, and low-income Californians.”

“HCD continues to innovate and collaborate with stakeholders to build more affordable housing faster,” said Housing and Community Development Director Gustavo Velasquez. “This announcement of over $500 million to build multifamily affordable housing demonstrates our commitment to supporting cities and counties in meeting their affordable housing requirements.”

The Round 2 Super NOFA application portal opens June 1, with applications due by July 12 at 4 p.m. Round 2 Super NOFA award announcements are anticipated in Winter 2023.



Similar Posts