Fresno Housing and CVS Health have officially opened The Arthur @ Blackstone, a 41-unit transformative affordable housing community in Fresno, Calif.
The developer broke ground on the project in 2022 and its completion involved the collaboration between Fresno Housing, CVS Health, Fresno County Department of Behavioral Health, Red Stone Equity Partners, the City of Fresno, Chase, the Department of Housing and Community Development, the California Tax Credit Allocation Committee and other key partners.
CVS Health invested an estimated $18.4 million into the project through Red Stone Equity Partners. This represents CVS Health’s third housing investment made with Fresno Housing in the past couple of years. The company has also provided tax credit equity for an 81-unit affordable housing community in La Puente, Calif., which opened last year.
Supporting the transitional youth
The Arthur @ Blackstone incorporates one-, two- and three-bedroom floorplans. Common-area amenities include a fitness center, a multi-purpose room, a laundry room and meeting areas. The property was built according to Green Building Standards and features efficient HVAC and water heating systems.
The community serves residents earning between 30 and 60 percent of the area median income. Half of the units cater to special needs tenants, specifically transition age youths between the ages of 18 and 24 who are aging out of the foster care system, transitioning from institutions or with a history of involvement in the justice system. The remaining half are designated for low-income families, while one unit is reserved for the onsite property manager.
The residents of The Arthur @ Blackstone will benefit from supportive services coordinated by the Fresno County Department of Behavioral Health, as well as other contracted service providers.
Located at 3045 N. Blackstone Ave. within the Blackstone Corridor, the community is on the site of the former “Arthur’s Toys” store and AJ’s Tuxedo Shop. Downtown Fresno is some 4 miles south.
