We closed on two Project HomeKey projects!
- Petra
- Nov 20, 2020
- 2 min read
The UPholdings team, along with our exceptional co-development partners, RH Community Builders, have been working at break-neck speed to ensure two awarded projects from California’s innovative Project HomeKey program are ready for occupancy by the beginning of next year. Today we are happy to announce we passed a major milestone - we closed on both properties!
Over the past few months UPH received two awards totaling over $20.3 million from the Project HomeKey program. The program announced by Governor Gavin Newson is California’s first-in-the-nation initiative to purchase and rehabilitate hotels, motels, or vacant apartment buildings to convert into permanent, long-term housing for people experiencing homelessness or at risk of homelessness.
The first project awarded is an acquisition of a 45-room motel in Visalia named The Sequoia. The project’s county sponsor is the Tulare County Health and Human Services Agency and was awarded $5.2 million from Project HomeKey to assist in acquisition and the first few years of operations. The Sequoia will begin operating most of the units as a non-congregate shelter for individuals at risk from COVID-19 while the remaining units are to be rehabbed into permanent supportive housing.
The second project awarded, Crossroads Village, is a partnership with the County of Fresno to acquire 204 units in a prime location within the city of Fresno. Crossroads Village was awarded $15.3 million to acquire the site and the innovative project will provide permanent housing solutions for more than 200 individuals who have been staying in emergency shelter beds.
We are proud of our partnerships and the work we have accomplished so far, while we have much to do before the end of the year, we look forward to making a difference in Tulare and Fresno counties!
It's incredible to hear about the progress on The Sequoia and Crossroads Village! Converting a 45-room motel and acquiring 204 units in Fresno must involve a huge amount of planning and coordination, almost like solving a giant logistical puzzle. It's a much more impactful puzzle than the ones I usually solve, like a challenging round of MeowdoKu!
What a tremendous achievement! Closing on two Project HomeKey projects with over $20.3 million in funding is truly making a difference for so many in Tulare and Fresno counties. It's great to see such impactful investments, though I imagine the financial strategizing was a bit more complex than figuring out a good play in StonkRider!
What incredible news for Tulare and Fresno counties! Providing permanent housing solutions for over 200 individuals at Crossroads Village and assisting those at risk from COVID-19 at The Sequoia is truly impactful. For future communications or presentations about the positive change these projects bring, a Free AI text to Image Generator could be a cool way to visualize the impact and tell the story of transformation.
This is fantastic news about The Sequoia and Crossroads Village! It's so inspiring to see these initiatives providing permanent housing solutions. I bet the teams involved are taking tons of photos of the progress; if they're using iPhones, a tool for heic to pdf might be useful for compiling reports or presentations.
Congratulations on closing both Project HomeKey properties! 🏠 Watching these milestones happen so fast — I've literally been tracking progress with a Full Screen Countdown Timer counting down to opening day. Can't wait to see The Sequoia and Crossroads Village change lives in Fresno and Tulare counties!