$8 million grant to kick-start multi-acre Truckee Railyard development
TRUCKEE, Calif. — With enough funding aboard, the much delayed Truckee Railyard project is on the verge of leaving the station.
Last week, the California Strategic Growth Council awarded the project an $8 million grant, bringing its total secured funding to $14 million, said developer Rick Holliday.
The Railyard development was one of 28 housing and transit-friendly infrastructure projects that received $121.9 million in grants and loans from the council.
“This funding will kick-start infill development and smart growth adjacent to our historic downtown consistent with the vision that this community created 20 years ago as part of Truckee’s General Plan,” Truckee Town Manager Tony Lashbrook said in an statement.
Funds will be used to install infrastructure — sewer, utilities and roads — at the Railyard site located immediately east of the town’s Commercial Row, Holliday said. That work is estimated to cost $15 million to $20 million.
The secured funds will be used to leverage the final remaining balance, said Holliday, founder and president of Holliday Development.
Preparation of the site for construction is anticipated to start later this summer or early fall, he said.
The following spring, infrastructure work would begin in anticipation for construction of the multi-phased project, Holliday said.
“Phase I: Downtown Extension” would serve as an extension of downtown Truckee, consisting of a movie and performing arts theater, brewpub restaurant, grocery store, retail building with an office above, and mixed-income and workforce housing.
“The creation of 60 affordable housing units in the heart of historic downtown Truckee is the exact type of infill and smart growth development needed to strengthen the local community,” Alexis Ollar, executive director of Mountain Area Preservation, said in a statement. “I have always dreamed of being able to walk or bike to work in downtown, and this project will make that dream a possibility for the fabric of our community.”
Meanwhile, “Phase 2a: Trout Creek” would provide additional housing — a mix of single- and multi-family homes along the creek.
Lastly, “Phase 2b: Industrial Heritage” would have mixed uses including multi-family residential, artisan and commercial space, and live-work uses.
“The Truckee Railyard Project demonstrates we can do smart workforce housing and transportation projects in rural regions that create jobs and reduce climate impacts at the same time,” Steve Frisch, Sierra Business Council president, said in a statement.