{"id":202631,"date":"2026-03-03T19:44:10","date_gmt":"2026-03-03T19:44:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/202631\/"},"modified":"2026-03-03T19:44:10","modified_gmt":"2026-03-03T19:44:10","slug":"will-11-7m-city-loan-for-housing-project-turbocharge-downtown-fresno","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/202631\/","title":{"rendered":"Will $11.7M City Loan for Housing Project Turbocharge Downtown Fresno?"},"content":{"rendered":"

It appears that downtown Fresno will get the anchor housing project city leaders have dreamed of for more than a decade.<\/p>\n

Fresno officials say the developer behind a massive housing project near Chukchansi Park is nearly \u201cshovel ready\u201d 12 years after signing the first agreements with the city.<\/p>\n

\u201cThis will be the first truly legitimate housing project in the south stadium area,\u201d Fresno Mayor Jerry Dyer said.<\/p>\n

\"\"<\/a><\/p>\n

The Park @ South Stadium<\/a> would replace two abandoned buildings and a parking lot at Fulton and Inyo streets with the housing complex. It will overlook center field at Chukchansi Park and border \u201cHome Run Alley.\u201d A timeline on the housing agreement shows a July 2028 opening.<\/p>\n

The developer agreement with builder Mehmet Noyan would have expired had Fresno City Council not granted him an extension. The new agreement extends the deadline to May 15, giving Noyan time to secure financing, said Dyer at the Feb. 26 council meeting.<\/p>\n

To get Noyan the funding needed, the city is also loaning him $11.7 million, with another $70 million expected in state bond money to build the 174-unit partially affordable housing project.<\/p>\n

Fresno City Councilmember Miguel Arias said while housing projects have gone up in all portions of his district, downtown has been the most difficult because of its historic buildings and outdated infrastructure. Securing the financing represents one of the last steps to get the project \u201cshovel ready,\u201d he said.<\/p>\n

\u201cThe last component was providing some gap financing for several of these projects that have all gone through the process for years to get shovel ready,\u201d Arias said.<\/p>\n

\"\"The Park at South Stadium, 815 Fulton Street. Chukchansi Park and Tioga-Sequoia Brewing are nearby. (GV Wire Composite)<\/p>\n

Of those 174 units, 70 will be affordable, reserved for people earning less than 50% or 80% area median income, depending on the unit. The remainder will be market rate.<\/p>\n

Units will be fully furnished with modern amenities, according to the development agreement. On the ground floor, residents can access a pantry, conference rooms, a focus lounge, and a fitness room.<\/p>\n

South Stadium Couldn\u2019t Get the Votes in 2022<\/p>\n

The project may seem familiar to those who have been following downtown development<\/a>. In 2022, the project needed a key extension to proceed. In addition to complications with the affordable housing process, a late objection from the Fresno Metropolitan Flood Control District caused a delay for Noyan that jeopardized a key housing credit.<\/p>\n

Noyan\u2019s partnership with Fresno developer Terance Frazier \u2014 who left the project shortly before that vote came up \u2014 also caused heartburn for Councilmember Mike Karbassi and then-councilmember Garry Bredefeld. Their \u201cno\u201d votes kept the project from advancing.<\/p>\n

Last year, the council revived the project.<\/p>\n","protected":false},"excerpt":{"rendered":"It appears that downtown Fresno will get the anchor housing project city leaders have dreamed of for more…\n","protected":false},"author":2,"featured_media":42912,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[112,114,113],"class_list":["post-202631","post","type-post","status-publish","format-standard","has-post-thumbnail","category-fresno","tag-fresno","tag-fresno-headlines","tag-fresno-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/202631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=202631"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/202631\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/42912"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=202631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=202631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=202631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}