Capitol Park Homes
Location
This project includes new construction of 64 single-family homes between P and Q, 12th and 14th Streets. Construction of the project necessitated the demolition of two multifamily structures totaling 23 units, and the move of two multifamily structures to other CADA sites totaling 16 units.
Status
Construction completed on all homes in April 2003.
These units are three stories in height, with garages and work areas on the ground floor, and living space on the second and third floors. The units each have two car garages, accessed from motor courts. The units front on the streets as well as the alleys between P and Q Streets. The 64 homes include two and three bedroom units ranging in size from 1,306 to 2,431 square feet. Each unit has a covered porch in front and a balcony/deck in the back. Exterior building materials are stucco, horizontal siding and shingle, with composition shingle roofs.
Affordability
Included in the project are twelve 1,306 square foot homes that initially sold for $94,500, which at the time were affordable to households earning 70% or less of median income. Also included are six 1,785 square foot homes that initially sold for $198,800, which at the time were affordable to households earning 110% or less of the median income. The remaining forty-six homes were sold at market sales prices starting at $289,000.
| Status: | Construction completed in April 2003 |
| Location: | 12th/14th and Q/P Streets |
| Developer: | Partnership headed by Sotiris Kolokotronis |
| Unit Count: | 64 Two and Three Bedroom homes with two car garages ranging from 1,785, 2,132 or 2,431 S.F. |
| Total Building Area: | NA |
| Acres: | 4.4 acres |
| Dwelling Units per Acre: | 16 DUA |
| Retail Space: | NA |
| Retail Tenants: | NA |
| Parking: | Each home offers individual two car garages |
| Total Development Costs: | $18,000,000 |
| Sources of Financing: |
$11,700,000 BankOne Loan $1,400,000 Owners Equity $1,000,000 CADA $2,000,000 Sacramento Housing and Redevelopment Agency (SHRA) |
| Projected Rents: | NA |
| Initial Sales Prices: |
18 Affordable Units range from $94,500 - $198,800 46 Market Rate Units starting at $289,000 |
These
figures are subject to change.
Please contact CADA or the Developer for the most recent information.
