Nearly 300 new affordable housing units at Truckee-Tahoe
RENO, Nev. (AP) — The recent opening of five new residential developments has added nearly 300 affordable housing units for workers in Truckee, California and the north shore of Lake Tahoe, an area where such housing has been in high demand in recent years.
The projects were the result of public-private partnerships that infused about $150 million into the local economy during their development, the Reno Gazette Journal reported.
Many units are reserved for households earning less than 50% of the area’s median income and most are capped at 80%.
California State Treasurer Fiona Ma said at an Oct. 1 ribbon-cutting ceremony it will increase the mix of regional housing while providing “critical relief” for low- to moderate-income families, workers and artists who make up the backbone of high-cost California communities.
“Developments like these help ensure opportunities for our children to be able to stay in the communities they love,” District 5 Supervisor Cindy Gustafson said.
They include the Truckee Artist Lofts, 77 mixed-use units at the Truckee Railyard for artists and local workers. Many are restricted to households earning 80% of the area’s median income, with about one-quarter limited to less than 50%.
The 48-unit Coldstream Commons near Donner State Memorial Park limits income to 60% of median.