AUBURN, CA (MPG) - Following a financial feasibility study discussion, the Placer County Board of Supervisors Tuesday approved staff to move forward with the design of a fully affordable housing development plan on a portion of the Dollar Creek Crossing site in North Lake Tahoe. The move shifts the project from a mix of 110 achievable and affordable housing units to at least 80 affordable units with a reserved area for potential future development. The county will move forward with a developer agreement to complete the planning, design and construction of the fully affordable project. 

The board also supported creating a potential local tenant preference program that would consider local employment and residency in prioritizing future tenants.

The project is proposed on the 11.4-acre on North Lake Boulevard at Dollar Drive, which was purchased by the county in Oct. 2019 with financial support from the Truckee Tahoe Airport District. This county-owned property is located near schools, transit routes, trails and other services, making it an ideal location for members of the local workforce and their families.

In 2019, the county entered into an exclusive right to negotiate agreement with The Related Companies of California, LLC to begin designing the project. This agreement was subsequently extended multiple times, including in Dec. 2024 through the end of 2025, with the right to further extend it to June 30, 2026.

Initial community outreach meetings in 2019 and 2020 highlighted concerns related to traffic, parking and safety. In 2021, the county retained consultants to assess aspects of the proposed project, including studies looking at financial feasibility, housing demand, local transportation, fire risk and more.

In March 2023, an initial project application was submitted to the county’s Planning Services Division proposing up to 110 units of rental housing and for-sale housing targeted to meet regional workforce housing needs. The Aug. 2023 site plan, which served as the basis for the financial feasibility analysis, proposed a total of 120 units, including 56 affordable rental apartments, 24 achievable rental apartments, and 20 achievable for-sale duplexes, each with a junior accessory dwelling unit.

The feasibility study determined the county would need to identify $40 million of funding to complete the achievable portions of the project, while the affordable components of the project could utilize a variety of funding options from state and federal sources leaving the county to find the remaining approximately $175,000 per unit or 20% of the project cost.

Additional studies and community outreach are anticipated before any construction on the site.

Learn more or sign up for future updates about the Dollar Creek Crossing project on the county’s webpage here: https://www.placer.ca.gov/5955/Dollar-Creek-Crossing.