Annual Report 2005
HousingHousing
affordability and availability are important issues at the City. Many
challenges
exist throughout the county to address the needs of existing families and
new residents. The City is committed to supporting programs that provide
additional housing opportunities and to developing policies that address
both affordability and availability.
Hotel Expansion Fosters Housing
Eighteen new affordable rental units are
slated for Downtown Monterey, thanks to a partnership between the City and
the owner of the Monterey Hotel in downtown.
The affordable housing is part of a mixed-use project to be built
on the vacant lot between Alvarado Street and Calle Principal, next to the
hotel on Alvarado Street.
Construction is set for this winter 2005-06. Plans call for expanding the
existing hotel by 24 rooms and adding an elevator and adjoining retail
space. The existing hotel grounds and interior will be completely remodeled
as part of the process.
Funding for this affordable housing development is supported by a
$2.2 million redevelopment loan from City housing funds and an $800,000 loan
from a State Housing and Community Development Grant. When finished, the new
facilities will bring housing designated for local workers and generate
increased economic activity.
For more info on housing programs, call the Housing & Property
Management Office at
646.3995 or visit
www.monterey.org/housing.
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