Governor Gavin Newsom on Tuesday announced a nearly $239 million investment to quickly bring 20 shovel-ready affordable rental housing developments with 1,700 homes to California residents.
August 12, 2026 – SACRAMENTO – Governor Gavin Newsom on Tuesday announced a nearly $239 million investment to help bring 20 construction-ready affordable rental housing developments with 1,700 homes to market for Californians. These new projects underwent a streamlined approval process to keep development on track and cut red tape – continuing the state’s work to reverse a decades-in-the-making housing shortage, and reverse the nationwide homelessness crisis.
California is reversing decades of housing inaction by making historic investments to build more homes, faster. Today’s announcement will help bring more housing to communities across the state, lower costs, and create greater stability. Working in partnership with the Legislature, we’re backing that investment with reforms that cut red tape, expand financing opportunities, and accelerate housing production. Those efforts are delivering results: more housing moving forward, more affordable homes being built, and more Californians gaining access to the stability and shelter they deserve.…