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SHS Tackles Affordable Housing Project in State Capital MARCH 22, 2007 -- Sacramento, Calif. -- In a partnership with nonprofit organization LINC Housing Corp., Simpson Housing Solutions LLC (SHS), based in Long Beach, Calif., has begun construction on North Avenue Apartments, an affordable housing community in the Del Paseo Heights neighborhood of Sacramento, Calif. Michael Costa, president of SHS, told MHN that the project, which consists of apartments and two-story townhouses on a once-vacant five-acre lot, broke ground in January 2006 and is slated for completion in May. It has been designed by Maple Dell + McClelland. The community features a “classic California” contemporary style, with tile roofs, stucco exteriors and wood trim and accents. Located at 999 North Ave., the $17-million complex will offer 80 two- and three-bedroom units. Apartments will range from $313 to $865 per month. All units will be set aside for households earning from 30 to 60 percent of the area median income for Sacramento County, as published by the U.S. Department of Housing and Urban Development (HUD). Financing includes an allocation of $10.2 million in federal Low Income Housing Tax Credits (LIHTC), $525,000 from the Sacramento Housing Redevelopment agency, and a $10.9-million construction loan from Wells Fargo Bank. According to Costa, Sacramento struggles with a shortage of high-quality housing that is affordable for working families. These apartments will feature central heating and air conditioning, cable TV hook-ups, patios or balconies, carpeting and vinyl floors. “SHS builds nothing but affordable family and senior apartments, utilizing tax credit financing, so you could say that the inspiration stemmed, as with all our projects, from the growing need for more affordable housing, not only in Sacramento, but in cities across America,” Costa told MHN. “We hope and expect that adding high-quality affordable housing will help contribute to an overall revitalization of what has become a blighted area, with a mix of working-class residential and light commercial areas.” Amenities at North Avenue Apartments will include a multipurpose room, pool, spa, outdoor recreation areas with basketball courts, computer center with Internet access, fitness center and laundry rooms. Once the project is completed, residents will be offered a variety of on-site services, such as educational classes, computer training, after-school tutoring, and health and wellness programs. The site is also located near schools, recreational facilities, shopping, public transportation and the Del Paseo Heights public library. Copyright 2007 Multi-Housing News |
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