New affordable housing project breaks ground in Downtown Fresno

FRESNO, Calif. (KFSN) -- A groundbreaking ceremonial successful Downtown Fresno marked the authoritative commencement of operation connected "The Mosaic."

Located astatine 1840 Broadway, it's the latest affordable lodging improvement successful the city.

"I deliberation this spot volition supply thing for the workforce and bring much radical downtown and marque it determination they tin beryllium arrogant to unrecorded in," says Estefania Cristobal, the Project Manager D L Batty.

Developers accidental the 25-unit workplace and one-bedroom apartments volition beryllium acceptable wrong 6 months.

The tract was erstwhile a motel, with a checkered past.

It's the past 1 connected the artifact to beryllium transformed..

"A burned-down motel that was an epicenter of cause trafficking and quality trafficking to envision thing caller and antithetic and much sustainable," explains Fresno City Council member, Miguel Arias.

The $4.7M task was partially made imaginable by pandemic-era betterment funds.

Fresno City Mayor, Jerry Dyer says, "I volition say, much than $2M is much than conscionable an concern successful these projects, it's an concern successful the families who volition rise their children here, and it is an concern successful the aboriginal and those folks who volition unrecorded present successful this peculiar area."

Rent volition commencement betwixt $770 to $950 for a workplace and spell up from determination for the one-bedroom apartments.

The prices are geared towards moving individuals who whitethorn not suffice for low-income housing, but besides whitethorn not marque capable to unrecorded connected their own.

"First lodging task that is going to people individuals that are 60 to 80% AMI, truthful that translates to astir $35,000 to astir $50,000," explains Michael Duarte, CEO of BOB Chief Real Estate Officer astatine Fresno Housing.

Applications volition unfastened successful a fewer months, erstwhile the task is person to completion.

Duarte continues, "We usually unfastened our involvement database for astir 3 weeks, judge applications which we usually get hundreds of, loterize the task and conscionable spell down the list."

Construction volition beryllium done by the extremity of November, meaning its tenants could beryllium successful by the caller year.

To larn much astir Fresno Housing, click here.

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