USA Properties JV Kicks Off $112M Affordable Community
This will be the developer’s third project in its California hometown.
A joint venture between USA Properties Fund and Riverside Charitable Corp. has broken ground on The Crawford, a 265-unit affordable housing project in Roseville, Calif., near Sacramento, Calif.
Safehold is the property’s leaseholder, while Bassenian Lagoni served as the project’s architect on record. The team expects completion on the $112 million development in the spring of 2027.
Bank of America provided construction financing, while City Community Capital issued a permanent loan. The combined debt amounted to a total of $69.4 million, Yardi Matrix data shows. Additionally, the developer requested $5.7 million in annual federal 4 percent LIHTC last December, according to the California Tax Credit Allocation Committee.
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The Crawford will encompass one- to three-bedroom floorplans spread across 11 buildings. Units will be restricted to residents earning up to a mix of 30, 50, 60 and 70 percent of the area median income. The average targeted affordability will land at 59.9 percent of AMI. Eight of the apartments will also receive Section 8 project-based vouchers from the City of Roseville Housing Authority.
Located at 1130 Harvey Way, the construction site is within walking distance of several quick-service restaurants, as well as a couple of parks. Development is also underway at the Placer Valley Soccer Complex roughly 3 miles away.
Amenities will consist of a community room, gym, swimming pool and dog park. Additionally, future residents may access LifeSTEPS’ social services including eviction prevention and case management, to name a few.
Roseville’s remarkable affordable pipeline
USA Properties Fund owns roughly 35 communities throughout metro Sacramento. The Crawford will be the developer’s third community in its hometown of Roseville. The other two properties are Vintage Square at Westpark, a 152-unit age-restricted community, and Terracina at Winding Creek, a 284-unit affordable project set for completion early next year.
The Affordable Housing Program of Roseville has delivered upward of 4,100 affordable units, according to prepared remarks by Roseville Mayor Krista Bernasconi. The Roseville-Rocklin submarket still had north of 1,000 units underway inside fully affordable projects as of February, Yardi Matrix data shows. The figure represented 23.7 percent of Greater Sacramento’s entire affordable pipeline.
In the nearby city of Rocklin, Calif., USA Properties Fund recently opened Terracina at Whitney Ranch, a 288-unit affordable community. The $104 million project marked the developer’s debut in the city.
