NEW CONSTRUCTION:
This project consists of the construction of 64 single-family homes with affordable requirements set by the Sacramento Housing and Redevelopment Agency that provided financing for the project. Two apartment structures were relocated from the footprint of this project to sites on an adjacent block. These apartment structures were rehabilitated and continue to be in CADA’s affordable rental housing inventory.
Completion Date: April 2003
Location: 12th/14th and Q/P Streets
Developer: Partnership headed by Sotiris Kolokotronis
Architect: EDI Architecture
General Contractor: CNM Construction
Unit Count: 64 Two and Three Bedroom homes with two car garages ranging from 1,785, 2,132 to 2,431 S.F.
Affordable Housing: 18 units of the initial sales offering
Total Building Area: N/A
Acres: 4.4 acres
Dwelling Units per Acre: 16 DUA
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) (opens in a new tab)
Projected Rents: N/A
Initial Sales Prices:
18 Affordable Units range from $94,500 – $198,800
46 Market Rate Units starting at $289,000