MIP Development Monarch Breaks Ground in Sacramento

Representatives from CalHFA were in attendance on Tuesday in Downtown Sacramento to celebrate the groundbreaking of Monarch apartments, which is financed in part by CalHFA’s Mixed-Income Program (MIP).

CalHFA’s Kevin Brown spoke at the event for Monarch, which is part of the state’s initiative to build housing in excess state-owned land, and will consist of 241 units restricted between 30% and 70% of Area Median Income. The event, hosted by Mutual housing, featured speeches from Sacramento Mayor Kevin McCarty, Councilmember Phil Pluckebaum and others.

MIP launched in 2019 following the passage of the Building Homes and Jobs Act, and in that time has provided financing to help construct 10,655 units of affordable housing at a mix of income levels.

Thank you for supporting CalHFA and our mission to invest in diverse communities with financing programs that help more Californians have a place to call home.