Fresno Council Approves $11.7M Loan, Extends Deadline for 174-Unit Project

Fresno City Council approved an $11.7 million city loan and granted The Park @ South Stadium an extension to May 15 to keep a long-delayed downtown housing project alive. The Park @ South Stadium is planned as an eight-story, 174-unit building at Fulton and Inyo streets near Chukchansi Park that would overlook center field and border Home Run Alley.

The action came March 3, 2026, after the council had given preliminary approval on Nov. 6, 2025 and discussed the extension at a Feb. 26 council meeting. Mayor Jerry Dyer urged the additional time for the developer to pursue financing and said, "This will be the first truly legitimate housing project in the south stadium area." Dyer also described the building as "eight stories overlooking the stadium," and added, "I think it's going to be a catalyst for future housing to come downtown."

City financing was described as gap funding to bridge outstanding capital needs. The council approved the $11.7 million loan while builders continue to seek other sources; city documents and meeting remarks indicate the developer expects about $70 million in state bond money to complete the project, a combination that would put total financing near the low-80 millions. Councilmember Miguel Arias framed the city support as the final step toward construction, saying, "The last component was providing some gap financing for several of these projects that have all gone through the process for years to get shovel ready."

The Park Partners LLC, co-managed by Mehmet Noyan and Jeff Isenstadt, is listed as developer and builder. Council members were told the project site would replace two abandoned buildings and a parking lot at the Fulton and Inyo intersection. A project timeline in the developer agreement shows a projected opening in July 2028 if financing and construction proceed on schedule.

Affordability provisions in the plan call for 70 of the 174 units to be designated affordable at either 50 percent or 80 percent of Area Median Income depending on the unit; homeless advocate Dez Martinez criticized the plan for lacking units reserved at 30 percent of AMI or below. The developer agreement would have expired without the extension, making the May 15 deadline a critical window for The Park Partners LLC to "go to the bond market" and secure the expected state funding.

The council meeting that approved the loan and extension also advanced pedestrian safety measures, greenlighting two HAWK pedestrian-activated crosswalks on First Street at Home Avenue near Mayfair and Ericson Elementary Schools and at First Street and Dovewood Lane near Hoover High School, sites referenced in connection with the 2022 death of 15-year-old Rashad Al-Hakim Jr. If the developer secures the remaining financing by May 15, city leaders expect the gap funding to enable the long-awaited downtown project to move from planning to construction toward the July 2028 opening.