California’s Affordable Housing and Sustainable Communities (AHSC) program has granted $41.1 million to Phase 1 of Riverwalk San Diego, a $3-billion, 200-acre master-planned village in San Diego’s Mission Valley neighborhood. This ambitious 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 adjacent to 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. President & CEO Rebecca Louie expressed her enthusiasm for the award: “This funding will truly transform lives by creating climate friendly affordable homes with easy access to jobs schools and transit,” she said.”This is Wakeland’s third AHSC award so we have seen firsthand how powerful the combination of affordable housing with sustainable transit can be.”
Construction on Phase 1 is expected to start early 2025.
