Summary
The 42-unit affordable project behind City Hall got its financing locked in — a $1.5 million city loan moved from the general fund to the housing asset fund, after MidPen secured a $30 million state award. Construction starts this fall, done by early 2028, with units reserved for MPUSD families in precarious housing.
At a glance
- Total mentions
- 4
- Last 30 days
- 3
Discussed at 2 meetings in the last 60 days; most recently Oct 6, 2026.
Impact analysis
$1.5 million city loan, now from the housing asset fund instead of the cash-strapped general fund.
Low-income households (30-60% of area median income), MPUSD families in unstable housing, and the neighborhood gaining a public playground.
City Hall loses some parking, though the exact net loss was not stated.
Mentions & discussions (2)
Council Regular Meeting — October 6, 2026
The city is using federal block grant money to buy a condo unit at 300 Glenwood Circle to resell to a first-time, lower-income homebuyer. The HOA supports it and notes 17 more affordable units could follow if the rental side converts.
Council Regular Meeting — September 15, 2026
The 42-unit affordable project behind City Hall got its financing locked in — a $1.5 million city loan moved from the general fund to the housing asset fund, after MidPen secured a $30 million state award. Construction starts this fall, done by early 2028, with units reserved for MPUSD families in precarious housing.
Related development
Inclusionary housing unit purchase — 300 Glenwood Circle #258
The unit will be resold to a qualifying first-time homebuyer at an affordable rate, adding to the city's stock of 25 owner-occupied inclusionary units at the property.
Madison Street Affordable Housing Project
42 affordable units plus a public playground and a city parking lot behind City Hall, with units set aside for MPUSD families in precarious housing; construction complete by early 2028.
We'll email you when it's on an upcoming agenda and when it's voted on, at most once a day.
The weekly brief for Monterey
What the council decided, in plain English — one email a week.
Free. Unsubscribe with one click any time. We never sell your email.