Vacant warehouse on Sacramento's R Street corridor being transformed into affordable apartments ...Middle East

Thirty of those units will be reserved for people formerly living on the streets, and others will be offered to downtown low-wage workers.

This is the second complex built in Sacramento under an executive order by Gov. Gavin Newsom to use state-owned property for new housing.

It comes at a time when the City of Sacramento is falling behind in the construction of new homes. State law requires more than 50,000 new housing units to be built in the city by 2029. But so far, just over 11,000 of those have actually been approved.

"Affordable housing projects in California are some of the most complicated real estate transactions anywhere in the country," Evans said.

"Sixty years ago, we had 40,000 more people living in the core of Sacramento," Mayor McCarty said. "We want to bring that back."

More than $49 million in state and local funding is being used to build the Monarch. Construction is expected to be completed in the spring of 2027.

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