Gov. Newsom Announces Major Homekey Milestone: All 94 Sites Closing Escrow Ahead of Deadline

SACRAMENTO – Gov. Gavin Newsom Dec. 29, announced that all 94 Homekey projects have closed escrow. The buildings will provide 6,029 housing units for people experiencing homelessness throughout California. A total of $750 million in federal Coronavirus Relief Fund dollars has been allocated to 51 applicants for the 94 projects. These investments enable this high-risk population to follow public health guidance to slow the spread of COVID-19, using approaches, such as converting temporary non-congregate housing, including hotels, motels, vacant apartment buildings and other properties, into permanent long-term housing for people experiencing or at risk of experiencing homelessness. In addition, $96 million in operating supports – a combination of state funds and philanthropic investment – has also been fully awarded. In total, Homekey utilized $846 million to rapidly purchase and subsidize these 6,029 units in less than six months from start to finish.