A groundbreaking for a new artist-inspired project will be held May 31 in Stockton.
The Medici Artist Lofts, a mixed-income apartment building with commercial space, will break-ground this week at was once the MediCo Dental building.
“We are excited to expand on the success of our Cal Weber 40 project, providing much needed housing in San Joaquin County—specifically to those who want to live in Downtown Stockton,” said Chris Flaherty, chairman and CEO of 3 Leaf Holdings, a partner in the project along with the Housing Authority of the County of San Joaquin and DFA Development.
The project, expected to be completed by fall of 2019, is geared toward artists, offering space for receptions, galleries and 34 residential units.
“The Housing Authority is excited to be a part of the revitalization of Downtown Stockton,” said Peter Ragsdale, executive director of the Housing Authority. “Medici Artist Lofts will be transformative in its adaptive, mixed-use rehabilitation of the iconic Medical/Dental Building. This project will change the conversation around what is possible when partnerships are struck to help solve the affordable housing crisis in California.”
Six of the units will be offered at market rate, and 28 will offered at “affordable rent subject to income limitations,” according to the Housing Authority.
Similar projects in cities like Fresno have found success in bringing more residents to dwell in downtown regions undergoing revitalization efforts.
The groundbreaking will take place at 7:30 a.m. on May 31 in the lobby of the MediCo Dental building. Business leaders and community members are encouraged to attend the event.