Corazón del Valle Commons will be a mixed-use development featuring 61 new units.
Huron, CA – On January 26, 2021, the Fresno Housing Authority Boards of Commissioners voted to accepted a State of California Department of Housing and Community Development, Multifamily Housing Program (MPH) award for $11,398,771.
The award is for a proposed mixed-use Fresno Housing development in Huron, CA. The proposed development will fill nearly 7 acres of vacant land on the corners of 12th and Fresno Streets in the rural community of Huron. Corazón del Valle Commons, a mixed-use development will consist of 61, one to four-bedroom units, a community building for resident activities, and commercial/civic space.
According to Huron Mayor, Rey Leon “The City of Huron is excited to see this project moving forward, it has been in the planning stages since 2018, and we know that Fresno Housing will deliver an amazing community for our families to enjoy. This is another wonderful opportunity to enhance safe and affordable housing opportunities in our rural community.” Fresno Housing purchased the land, valued at over $1.2m for $1 from successor Agency to the Redevelopment Agency of the City of Huron.
Affordable housing developments require a variety of funding sources before construction may begin. The recent MPH award is a significant factor in making this development a reality. Next, Fresno Housing plans on submitting a 4% tax credit application. Once all financing is secured, construction is estimated to take 18 months.
Michael Duarte, Fresno Housing’s Planning and Development Director added, “There are several development opportunities in Huron, and this funding is an essential part of building quality affordable housing and continuing our work to develop vibrant neighborhoods.”
Future residents may include existing Fresno Housing residents already living in Huron, as well as new applicants with incomes ranging between 30 and 60% of the Annual Median Income (AMI).
Construction costs for Corazón del Valle Commons are estimated at $18.7 million for the residential units, and community space. The total development costs are approximately $32 million, which includes environmental and soil work, loan fees, required offsite improvements, infrastructure, commercial/civic space and much more.
