SAN DIEGO — An affordable housing project along the San Diego River trail in Mission Valley just secured funding from the state.
Dubbed “Riverwalk San Diego,” this development will offer energy-efficient housing as part of a 200-acre “master-planned village” that will eventually contain 430 affordable multifamily units.
That’s according to local non-profit Wakeland Housing and Development Corporation, which announced Thursday that the Affordable Housing and Sustainable Communities (AHSC) program has granted $41.1 million to the first phase of this project.
Once completed, Riverwalk San Diego will have 110 acres of parkland, 1 million square feet of office space, 150,000 square feet of retail on land that is currently used as a golf course, Wakeland explained.
As for phase one, the area will see 188 affordable homes established, plus a centrally located MTS Green Line Trolley stop as well as new bicycle and pedestrian infrastructure along the existing San Diego River trail.
“This funding will truly transform lives by creating climate-friendly affordable homes with easy access to jobs, schools and transit,” said Wakeland President and CEO Rebecca Louie. “This is Wakeland’s third AHSC award, so we have seen firsthand how powerful the combination of affordable housing with sustainable transit can be.”
The $41.1 million granted to Riverwalk San Diego is the single-highest award AHSC has given to a San Diego-area project. Construction is expected to start on phase one in early 2025.