Fremont City Council Awards $34 Million for Affordable Housing

As part of the City’s focused efforts to increase affordable housing in Fremont, the Fremont City Council awarded $34 million in funding on March 19, 2024. This funding will help support the construction of over 450 low-income rental units in Fremont.

The funding, secured mainly through development fees earmarked for affordable housing, will aid in the development of the three projects below. Although the funding award represents a significant milestone, these projects will still need to undergo a comprehensive development process before construction can begin.

• A 150-unit project located at 37440 – 37482 Fremont Blvd. in the Centerville District; proposed by USA Properties Fund, Inc. ($12.85 million in City funding)
• A 240-unit project located at 45021 Warm Springs Blvd. in the Warm Springs District; proposed by The Pacific Companies and Maracor Development ($12 million in City funding)
• A 96-unit project located at 39340 Fremont Blvd. in the Downtown District; proposed by Community Development Partners ($10 million in City funding)

The proposed projects will be located in three different districts, promoting geographic diversity in affordable housing options for Fremont. The units will cater to a range of income levels, including households with extremely low income (less than 30% of the area median income), very low income (less than 50% of the area median income), and low income (less than 80% of the area median income). All of the buildings will be constructed with energy-efficient, all-electric systems.

To learn more about the three projects, read the City Council Staff Report.

With these three projects, Fremont’s supply of new affordable housing continues to grow! Several projects are currently under construction, and some will be opening soon. To learn more about these upcoming opportunities, including details about income requirements, visit the City’s Upcoming Units webpage or the Affordable Housing in Fremont Map.

To receive updates when new affordable housing opportunities become available in Fremont, sign up for the City’s Affordable Housing Interest List.