California’s Affordable Housing and Sustainable Communities (AHSC) program has granted $41.1 million to Phase 1 of Riverwalk San Diego, a $3-billion, 200-acre master-planned village in San Diego’s Mission Valley neighborhood. It will eventually contain 4,300 multifamily units, 110 acres of parkland, one million square feet of office and 150,000 square feet of retail on land currently used as a golf course, adjacent to a new trolley stop in Mission Valley.

A partnership between Hines and nonprofit developer Wakeland Housing and Development Corporation, it’s reportedly the only project in San Diego County to receive AHSC funds this year.

“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.”

Construction is expected to start on the affordable housing component of Phase 1 of Riverwalk San Diego in early 2025. 

Connect Orange County will take place Sept. 27, 2023 at VEA | Newport Beach Marriott in Newport Beach, concurrently with Connect Healthcare Real Estate on Sept. 27 and 28. Click here to register for Connect Orange County, and here to register for Connect Healthcare Real Estate.