SACRAMENTO — The City of Sacramento needs to approve more than 39,000 new homes in the next four years to meet California's housing requirements. City leaders just helped break ground on more than 200 new affordable units in downtown. The project is called the Monarch, a five-story apartment complex with 241 low-income units located at R and 8th streets. It will sit on land that was once part of the city's industrial past. Now it's Sacramento's latest effort to create more affordable homes.
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 largest new construction affordable housing project in the history of the city of Sacramento," said Parker Evans, acquisitions manager for Mutual Housing California.
This is the second complex built in Sacramento under an executive order by Gov. Gavin Newsom to use state-owned property for new housing.
"We cannot be happier to see excess state property redeveloped in this way, and we look forward to doing this many more times," said Ana Lasso, director of the California Department of General Services.
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.
Sacramento could face fines and a loss of state funding if the requirement is not met.
"Affordable housing projects in California are some of the most complicated real estate transactions anywhere in the country," Evans said.
Other parts of this R Street industrial corridor have been successfully redeveloped. Now, Mayor Kevin McCarty says he wants this project to be a part of more people moving downtown.
"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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