USA Properties Debuts $119M Affordable Community in Sacramento
The developer owns nearly 40 affordable properties in the area.
USA Properties Fund has completed Terracina at Winding Creek, a 284-unit affordable community in Roseville, Calif.
Partners on the $119.2 million project included tax-credit investor WNC, Anthem Properties, JP Morgan and the City of Roseville. Two years ago, the California Municipal Finance Authority issued $66.5 million in tax-exempt bonds with Wilmington as trustee, Yardi Matrix shows. The property also benefits from LIHTC and Section 8 vouchers.
Terracina at Winding Creek caters to households that earn between 30 and 70 percent of the area median income. The unit mix features one-, two- and three-bedroom apartments averaging 737 square feet.
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Amenities include a clubhouse, a courtyard with barbecues and picnics, a gym, as well as a playground and EV charging stations, among other features. In addition, there are several social services available on-site, such as financial planning and health care, provided by LifeSTEPS.
The community consists of two buildings located at 3440 Westbrook Blvd. and 1040 Lower Bank Drive, less than a mile from one another inside Placer County. The duo is part of the larger Winding Creek Master Plan, a 140-acre neighborhood by Anthem Properties. Downtown Sacramento is roughly 23 miles southwest, while Interstate 80 runs about 11 miles away.
Roseville attracts affordable housing development
Roseville-based USA Properties Fund owns nearly 40 communities across Greater Sacramento, but only a few in its home town. Apart from Terracina at Winding Creek, the company also owns Vintage Square at Westpark, a 152-unit, affordable and age-restricted community located 2 miles away.
In the same city, USA Properties Fund is developing The Crawford, a 265-unit project set for completion next year. Roseville aims to boost affordable production, requiring that 10 percent of all new housing be income-restricted. Since 1989, the city’s policies have resulted in the completion of 5,167 such units.
