$70M Affordable Project Rises in California’s Capital
This community marks the developer’s debut in the city.
EAH Housing has started construction of On Broadway, a 140-unit fully affordable housing community in Sacramento, Calif. Upon its expected 2025 completion, the property will serve residents earning between 30 and 60 percent of the area median income. A total of 37 units will be set aside as Permanent Supportive Housing, designated for families experiencing or at risk of homelessness.
On Broadway marks EAH’s first development in the city of Sacramento. The nonprofit’s portfolio comprises more than 240 affordable properties in California and Hawaii. One of its more recent projects is a 76-unit affordable and age-restricted community in Hayward, Calif.
A transit-oriented affordable housing project
EAH purchased On Broadway’s 1.2-acre site for $5.6 million in 2020. The developer then demolished the existing structures, former office buildings which have been vacant for more than a decade.
Designed by LPAS Architecture & Design, the $70 million development will comprise two five-story buildings with one-, two- and three-bedroom floorplans. On Broadway will also feature 3,500 square feet of ground-floor commercial space. Common-area amenities are set to include two community centers, exterior courtyards, laundry facilities, bike storage, controlled access and approximately 75 parking spaces. EAH Housing will provide supportive services and resident activities.
Located at 1901 Broadway, the transit-oriented development is near the Sacramento Regional Transit District’s Broadway Blue Line light-rail station. The site is within walking distance of many dining options, retail centers and green spaces.
The Sacramento Housing and Redevelopment Agency, with Wells Fargo Bank as trustee, provided a combined $69.7 million in financing, according to Yardi Matrix data. The HCD Affordable Housing and Sustainable Communities program awarded the project $29 million in housing and transit improvement funds, which include $10.5 million for the expansion of the Altamont Corridor Express commuter rail, as well as for bike and pedestrian improvements on 34th Street and Second Avenue.