Transit-Oriented Workforce Property West Sacramento
Green, mixed-use, affordable housing by cap-and-trade funds
West Gateway Place is a mixed-use, transit-oriented workforce housing property that has received $2.6 million in cap-and-trade funds allocated by the California Strategic Growth Council. The funding is part of $6.7 million awarded to the City of West Sacramento and its West Sacramento Housing Development Corporation, Jamboree’s joint venture partner on the property in Yolo County.
West Gateway Place is the first affordable housing development in California to be financed by cap-and-trade funds from the Greenhouse Gas Reduction Fund – $121.9 million in highly competitive first round cap-and-trade financing awarded through the Affordable Housing and Sustainable Communities Program to only 28 housing and transit-friendly infrastructure projects throughout the state.
What makes this funding significant is that it’s part of the highly competitive first round of cap-and-trade financing awarded through the Affordable Housing and Sustainable Communities Program to only 28 housing and transit-friendly infrastructure projects statewide. Trailblazing developments such as West Gateway Place were selected based on their projected contribution to help fight climate change by reducing greenhouse gas emissions by an estimated 723,286 metric tons – the equivalent to taking 140,483 cars off the road for one year, saving 81 million gallons of gas – the same as if all residents of Citrus Heights and Newport Beach did not drive for one year.
West Gateway Place is located in West Sacramento’s Bridge District. The Bridge District is located on 188 acres of open land in the urban core. It is a green-certified, walkable, waterfront neighborhood with more jobs than residents, as well as a thriving area for both the arts and retail. West Gateway Place is near multiple public transit options and is walking distance to local schools, shops and dining. Jamboree’s Community Impact Group provides onsite resident services.