Fresno approves downtown apartment project after decade-long delay
After 15 years of starts and stops, Fresno cleared an eight-story, 174-unit tower at Fulton and Inyo, with about 40% of apartments reserved as affordable housing.
Downtown Fresno finally gave the Park at South Stadium Apartments a green light at the northwest corner of Fulton and Inyo streets, opening the door for an eight-story mixed-use building that has spent more than a decade fighting financing gaps, deadline extensions and a near-fatal council setback. The project sits on city-owned land near Chukchansi Park and the Brewery District, putting one of Fresno’s biggest new housing bets directly beside the ballpark district.
The plan calls for 174 apartments, with about 40% set aside as affordable housing. That mix makes the project more than a private market-rate tower, but it also means most of the units will still be out of reach for many working households who want to stay close to downtown jobs, the stadium area and the restaurants and bars that have been filling out Fulton Street.
Mehmet Noyan, through The Park Partners LLC, first proposed the development in 2009. The project stalled for years over financing, and in 2022 the Fresno City Council declined to grant another extension, effectively stopping an earlier version. The revival gathered momentum again in November 2025, then accelerated in late May 2026 when the project had secured nearly $70 million in funding. Schelin Uldricks & Co. said financing closed June 1 on an $85 million capitalization for the 174-unit development.
City leaders have cast the project as part of a larger downtown revival strategy. Planning materials say more than 600 apartments have recently been added downtown, while the broader goal is to grow the neighborhood from about 3,000 residents to 10,000. On May 7, the council approved a revolving loan fund agreement of up to $8 million for the project, underscoring how heavily the city is leaning on public tools to push housing onto scarce downtown parcels.
The Fulton and Inyo site also carries a reminder of how much downtown land has been waiting to be converted into housing. A 2014 appraisal valued the roughly 0.61-acre parcel at $328,000. Now, after years of delay, the site is finally moving toward construction, adding another test of whether downtown Fresno can turn planning goals into apartments that ordinary Fresno workers can actually use.
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