State Treasurer joins regional officials to celebrate new workforce housing units in North Lake Tahoe

Published on Oct. 1, 2021

California State Treasurer Fiona Ma joined North Lake Tahoe officials for a ribbon cutting ceremony today to celebrate the opening of 288 new affordable and workforce housing units at five locations throughout the North Lake Tahoe and Truckee region.

“Projects like these provide critical relief from our housing affordability crisis for the low-to-moderate income families, workers, and artists that make up the backbone of communities in California’s high-cost areas,” said California State Treasurer Fiona Ma. “I am thrilled that the State Treasurer’s Office, through the California Tax Credit Allocation Committee and California Debt Limit Allocation Committee, served as a meaningful partner in making these 288 affordable units a reality for the Tahoe-Truckee workforce.”

Developers were also on hand at the ribbon cutting fest which showcased five new workforce housing developments:: Coldstream Commons, Truckee Artist Lofts and Frishman Hollow II in Truckee, and Hopkins Village and Meadow View Place in Martis Valley, Placer County.

“We are pleased to celebrate the opening of these new affordable homes, which is a tremendous accomplishment and will provide new opportunities for residents of our region,” said Town of Truckee Mayor Anna Klovstad. “Housing is a very complex endeavor —reviewing it, approving it, financing it, constructing it—filling it---at every corner it is just plain hard. But today, we take a break from the hard and celebrate the win. The win for our community, our economy and our planet.”   

To serve the diverse needs of residents, regional partners have been working to make affordable housing more accessible to local workers. Regional housing goals include increasing the availability of a mix of housing types, supporting sustainable communities, encouraging the preservation and development of affordable housing and promoting availability of housing for the local workforce.

“These affordable housing units are vital if we are to keep the fabric of our communities strong,” said District 5 Supervisor Cindy Gustafson. “The homes will provide for our teachers, our firefighters, and sheriff’s deputies. They will provide for our county, town and tourism-related workers. Developments like these help ensure opportunities for our children to be able to stay in the communities they love. Moving forward, we are committed to keeping affordable housing as a top priority to protect our communities for generations to come.” 

A total of $150 million was infused into the local economy to develop these housing units. Check out the Mountain Housing Council website to learn more about the five projects and qualifications for residency.

More information about the event and five projects can be found here.