New Construction: This mixed-use, mixed-income, high density apartment complex incorporates three stories of apartments above ground-floor retail. Eleven of the 69 apartments in this complex have affordability requirements as set by the Sacramento Housing and Redevelopment Agency that contributed financing to this project. Design The exterior of the building features stucco with aluminum-framed windows and metal railings. There is a Spanish Style cement tile roof. Potted landscaping has been placed along 16th Street with additional landscape strips along the perimeters. The project offers a total of 69 parking spaces accessible via the mid-block alley between O and P Streets as well as 8 spots for bicycle parking. Each residential unit has a balcony.
Developer: Partnership headed by Sotiris Kolokotronis
Unit Count: 8 Studios (490 S.F.) 24 1BD/1BA (765 SF) 9 2BD/1BA (1,066 – 1,070 SF) 28 2BD/2BA (1,135 – 1,191 SF)
Total Units: 69 Note: 11 of the 69 apartments have affordability requirements.
Total Building Area: 99,383 SF
Acres: 0.88 Acres
Dwelling Units per Acre: 78 DUA
Retail Space: 12,000 SF Starbucks, Pronto, Uncle Vito’s, Supercuts and Nishiki Sushi
Parking: 69 Spaces
Development Costs: $9,803,853
Total Sources of Financing: $7,200,000
Permanent Bank Loan $570,000
CADA Land Acquisition Loan $793,853
Developer Equity $1,240,000
Sacramento Housing and Redevelopment Agency (SHRA) Loan
Renting/Leasing Contact: (916) 551-1494