Phase 1 of Santa Cruz’s Downtown Library and Affordable Housing Project awarded $110 million

SANTA CRUZ, Calif. (KION-TV) -- The City of Santa Cruz, Eden Housing and For The Future Housing announced Thursday that the Downtown Library & Affordable Housing Project was granted its final funding needed to start construction.

“The funding signifies opportunity, security and hope in Downtown Santa Cruz for community members who have been impacted by the affordable housing crisis we’re experiencing," said City Manager Matt Huffaker.

The city says that the project will provide the community with an affordable housing complex, modern library, childcare facilities and residential parking in the Downtown area.

“We are thrilled to have the final piece of funding secured for the construction phase 1 and look forward to collaborating with the City of Santa Cruz and our partners as we move toward breaking ground on this transformative development," said Linda Mandolini, CEO of Eden Housing.

The project secured a $55.1 million tax credit award through the California Tax Credit Allocation Committee (CTCAC) in addition to a $55.6 million bond award through the California Debt Allocation Committee (CDLAC).

The Downtown Library & Affordable Housing Project will be built on a city-owned surface parking lot (Lot 4), in the middle of Cathcart, Cedar and Lincoln Streets. The weekly Downtown Farmer’s Market is currently held at that location on Wednesdays, and will relocate to a new, permanent home Downtown Santa Cruz as part of the project.  

The city says that the Downtown Library & Affordable Housing‘s key components and features are: 

• 124 units of housing, 100% considered affordable units (with exception of one manager’s unit) 

• New Downtown Library, approximately 41,000 square feet 

• Childcare facility, including 1,231 square feet of indoor space and 674 square feet of outdoor space 

• Commercial tenant space, approximately 9,598 square feet 

• 240 parking spaces for cars, including 25 level 2 EV charging stations 

• 203 parking spaces for bikes, including a mix of varying sizes, bike lockers and e-bike charging  

• 36 new trees to be planted, including 14 on the project site and 22 to be planted in other locations in the City, to replace the existing 12 trees that will be removed for the project. Wood from existing trees on the site will be prioritized for potential use in the project. 

The city says that a portion of the new project was funded by voter-approved Measure S to replace the existing downtown library.