Governor Gavin Newsom announced today that California will invest nearly $790 million in cap-and-trade funds to support 24 projects across 20 communities, aiming to build 2,483 new affordable homes and improve infrastructure. This funding, part of the Affordable Housing and Sustainable Communities (AHSC) program, will also enhance public transit, bike paths, and pedestrian walkways.
“This investment addresses both our homelessness crisis and climate goals by creating new affordable housing integrated with sustainable infrastructure,” said Newsom.
The projects will benefit cities including Los Angeles, San Francisco, and San Diego, and will include 52 zero-emission transit vehicles, 100 new bus shelters, 60 miles of new bikeways, and extensive sidewalk repairs.
The AHSC program, funded by the state’s cap-and-trade revenues, aims to reduce greenhouse gas emissions while fostering development in low-income areas. This round of funding brings the total AHSC investment to $3.8 billion across eight rounds.