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80-Unit Affordable Housing Complex Debuts in Sacramento
Published: September 27, 2007
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By Kelly Sheehan, Online News Editor
Sacramento, Calif.—Simpson Housing Solutions LLC (SHS), headquartered in Long Beach, Calif., recently joined with Sacramento city officials and other guests to celebrate the official grand opening of North Avenue Apartments, an affordable housing complex in the Del Paso Heights neighborhood of Sacramento, Calif.
The project was developed by SHS and LINC Housing Corp. Its development cost was $17 million. Financing included an allocation of $10.2 million in federal Low Income Housing Tax Credits (LIHTC), $525,000 from the Sacramento Housing Redevelopment Agency, and a $10.9-million loan from Wells Fargo Bank. Maple Dell + McClelland designed the community.
Located at 999 North Ave., the community offers 80 two- and three-bedroom units, ranging from 1,038 to 1,136 square feet. The apartments are set aside for households earning from 30 to 60 percent of the Area Median Income (AMI) for Sacramento County, as published by the U.S. Department of Housing and Urban Development (HUD). Monthly rents range from $313 to $755 for a two-bedroom apartment and $355 to $865 for a three-bedroom unit.
“Sacramento, like virtually every city in California and elsewhere, struggles with a shortage of decent, high-quality housing that is affordable for working families,” says Michael Costa, president of SHS.
Guest speakers at the grand opening, highlighted by a ribbon-cutting ceremony and tours of the property, included Sandy Sheedy, Sacramento City Council member; Anne Moore, executive director of the Sacramento Housing and Redevelopment Agency; Mo Mohanna, vice president of development for SHS; and Tatia Sheffield, representing LINC Housing Corp.
North Avenue Apartments include several amenities, such as a multi-purpose clubhouse and community room, pool, spa, barbeque area, outdoor recreation area with basketball court, computer center with Internet access, fitness center, game room and laundry facility. In addition, residents have access to a parking area.
A variety of on-site resident services and activities will be offered to residents. These will include educational classes, computer training, after-school tutoring, and health and wellness programs. A services coordinator will also maintain a directory of local community resources and agencies, and will provide referrals for residents.
