Hercules Affordable Housing Initiative Spent Nearly $50 Million, Produced Almost Nothing
HERCULES, Calif. -- There are 918 names on 'the list.'
People from every walk of life are on it, with one thing in common: They all wanted the chance to take advantage of affordable housing offers in the small city of Hercules.
Many have been waiting more than five years for a call that would have given them entrée to sparkling new digs in Sycamore North, a $70 million mixed-use housing development in this struggling community of 24,000 residents northeast of San Francisco.
They're still on hold, waiting for a project that looms over a mostly barren downtown, its only occupant a security guard living in a small trailer.
Hercules has been teetering on the brink of bankruptcy for a year or so.