The City of Riverside has applied for a $10 million grant through the 2024 Homeownership SuperNOFA from the California Department of Housing and Community Development. The grant will support Habitat for Humanity Riverside’s development of 13 single-family homes and 8 accessory dwelling units at 7382 and 7384 Garden Street. The homes will be sold to low-income households earning at or below 80% of the Area Median Income (AMI), while the ADUs will be rented to additional low-income residents. The project aims to increase affordable homeownership opportunities and generate rental income for homeowners while ensuring long-term affordability through a 45-year legal affordability period. If awarded, the City will use the funds for predevelopment costs, construction expenses, and infrastructure improvements.
This project will expand affordable homeownership opportunities for low-income families in Riverside, helping to build generational wealth while addressing housing shortages. The inclusion of accessory dwelling units provides additional affordable rental housing and financial stability for new homeowners.