California’s Affordable Housing and Sustainable Communities (AHSC) program has granted $41.1 million to Phase 1 of Riverwalk San Diego, a massive $3-billion, 200-acre master-planned village in San Diego’s Mission Valley neighborhood. The project will eventually contain 4,300 multifamily units, 110 acres of parkland, one million square feet of office space and 150,000 square feet of retail on land currently used as a golf course near a new trolley stop in Mission Valley.
The partnership between Hines and nonprofit developer Wakeland Housing & Development Corporation is reportedly the only project in San Diego County to receive AHSC funds this year. Rebecca Louie – president & CEO at Wakeland – expressed her excitement for the grant: “This funding will truly transform lives by creating climate-friendly affordable homes with easy access to jobs schools and transit…We have seen firsthand how powerful the combination of affordable housing with sustainable transit can be.” Construction is expected to begin on Phase 1’s affordable housing component early 2025.
