USA Properties starts construction on Terracina at Westpark, an affordable apartment community in Roseville

The 284-apartment community will help more residents to live and work in south Placer County

ROSEVILLE, Calif. – USA Properties Fund has started construction on Terracina at Westpark, an affordable apartment community in west Roseville that will provide much-needed housing for residents, from early-in-their career professionals and hardworking families saving for their first house to retirees living on a fixed income.

Terracina at Westpark will have a north and south site – located at 3440 Westbrook Blvd. and 1040 Lower Bank Drive – and provide affordable one- to three-bedroom apartments in one of the nation’s fastest-growing cities where rent increases have easily exceeded pay raises during the past several years.

The 284-apartment community is close to a large neighborhood shopping center with a grocery store, highly rated public schools and dozens of neighborhood parks. Several major shopping centers – including the Westfield Galleria at Roseville, the largest mall in the Sacramento region – and numerous health providers, including Kaiser Permanente and Sutter Health, are just a few miles away.

“West Roseville is an excellent neighborhood, offering first-rate schools, a network of walking trails and some of the best parks in the region,” said Geoff Brown, President of USA Properties Fund. “We’re happy to help fill the critical need for more affordable, quality housing in our community.”

Roseville-based USA Properties – one of the nation’s fastest-growing and largest affordable apartment-developer-managers in the West – has 33 apartment communities in the Sacramento region, but Terracina at Westpark will be only the second in its hometown. Vintage Square at Westpark, an affordable apartment community for 55-and-older residents, is less than two miles away.

WNC & Associates, a national leader in affordable housing syndication, development and preservation, is the tax credit investor for the $119.2 million Terracina at Westpark project. JPMorgan Chase & Co. is the construction and permanent lender on the project.

Terracina at Westpark

Terracina at Westpark will be affordable, but also amenities rich. The apartment community will include a community room, a courtyard area with play equipment, computer workstations and almost 500 parking spaces.

“We are excited to work again with our longtime partner USA Properties on Terracina at Westpark,” said Anil Advani, Executive President of Originations and Finance for WNC & Associates. “In addition to safe and affordable housing, Terracina at Westpark will provide residents with computer access, an exercise room, and health and wellness classes. With these opportunities, it is our hope that residents can build a foundation for growth.”

Terracina at Westpark Rendering 2 | USA Properties Fund, Inc.

Roseville, recently listed as the 20th fastest-growing city in the U.S. by SmartAsset, has earned dozens of “best” accolades in recent years, from one of the best cities to live in California to a top-rated place to raise a family.

The attention and booming demand for housing has increased rents by more than 10% during the past year in south Placer County, about double the average pay raise for residents, according to the U.S. Census Bureau.

“Roseville has long been a leader in assisting with the development of affordable housing, and we are committed to building our share,” said Roseville Mayor Bruce Houdesheldt. “We made the commitment back in 1989 when we instituted the 10% affordable housing goal. This goal helps ensure that there are housing options for all members of the community, spread throughout our city, and makes Roseville a welcoming place.”

Terracina at Westpark will be available to residents earning 30% to 70% of the area median income for Placer County, about $25,740 for a two-person household to $81,060 per year for a five-person household.

Few affordable apartment communities have three-bedroom units, popular with growing families. To meet this need, Terracina at Westpark will offer 71 three-bedroom units, in addition to its 97 one-bedroom apartments and 116 two-bedroom units.

The rent for one-bedroom apartments is projected to be $522 to $1,356 per month, depending on household income. Two-bedroom apartments will range from $661 and $1,626. And three-bedroom units will range from $764 to $1,879, significantly below comparable market rents. Rents could be slightly higher when Terracina at Westpark is scheduled to open in early 2026.

Terracina at Westpark is part of the Creekview Master Plan that includes housing, commercial development, a school and neighborhood parks.

“Roseville is a very special place. It is a family-friendly community with a vibrant economy and many career opportunities for residents,” added Brown of USA Properties Fund. “Terracina at Westpark will open the door to much-needed affordable housing and many more opportunities for residents.”

9 apartment communities earn top Reputation award

USA Properties Fund had nine apartment communities, from San Diego County to the Wine Country, recently receive Reputation 800 awards, an honor that recognizes brands that effectively embrace consumer feedback online and deliver real-world results.

The annual award honors location-level businesses – such as apartment communities – for their best-in-class reputation by listening and acting on consumer feedback.

The apartment communities consistently collect, analyze and apply consumer feedback, from basic comments and compliments to complaints. One of every 10 USA Properties-owned and -managed apartment communities made the closely watched Reputation 800 list.

“USA Properties is committed to first-rate customer service and delivering a positive experience for residents and the public overall,” said April Atkinson, President of USA Multifamily Management. “We are honored to be recognized for our ongoing efforts, and are focused on continuing to improve how we connect with and respond online.”

The apartment communities that received a Reputation 800 award:

  • Vintage Terrace Senior Apartments in Corona
  • Vintage Pointe Senior Apartments in Oceanside
  • Villa Siena Apartments in Lake Elsinore
  • Avenida Crossing in Lancaster
  • Terracina Meadows in Sacramento
  • College Creek Apartments in Santa Rosa
  • Vintage at Snowberry Senior Apartments in Riverside
  • Terracina at Laguna Creek in Elk Grove
  • Aurora Apartments in Gold River
Reputation 1 | USA Properties Fund, Inc.
Reputation 2 | USA Properties Fund, Inc.

(Feature photo is Vintage at Snowberry in Riverside; above photos are the community room and the exterior of Aurora Apartments in Gold River.)

“In a world where consumers are making purchasing decisions based on what they see and hear in their local communities and online, delivering on brand performance is more important than ever,” said Liz Carter, Chief Marketing Officer of Reputation. “These USA Properties have demonstrated their commitment to evolving alongside its customers by prioritizing their needs and taking action based on what they are saying across online reviews, rating pages and on social media.”

USA Properties is one of the fastest-growing and largest affordable apartment community developer-manager-owners in the West. The Roseville-based company also has several market-rate apartment communities, including Aurora Apartments.

USA Properties and Northwest Housing Alternatives partner on Terracina Vista in Gresham, Ore.

The 92-apartment community is along a MAX light-rail line and will offer a community room, three-bedroom units and inside bike storage

USA Properties Fund, one of the fastest-growing and leading affordable developer-manager-owners in the West, and Northwest Housing Alternatives are partnering on Terracina Vista, a much-needed affordable apartment community in Gresham along a MAX light-rail line and close to shopping centers, schools, health providers and two freeways.

Construction on Terracina Vista – located at 16519 E. Burnside Street, about 10 miles from downtown Portland – will start in the next few weeks and should be completed in summer 2025. The 92-apartment community will include a community room, computer workstations and inside bike storage, a popular feature in the bike-friendly Portland region.

The City of Gresham, Oregon Housing and Community Services, and Oregon Metro are subsidy lenders on Terracina Vista.

“We’re encouraged by this collaboration and the opportunity to provide much-needed affordable housing options to our community,” said Gresham Mayor Travis Stovall. “Housing for all is one of Gresham’s strategic plan priorities, and projects like this bring us closer to that vision.“

WNC & Associates is the tax credit investor on Terracina Vista. The construction lender is Capital One and the permanent lender is Citi Community Capital.

Second affordable apartment community in Oregon for USA Properties

The $43 million development is the second in Oregon for USA Properties Fund, which has more than 90 affordable and market-rate apartment communities in California and Nevada. The company and partner Northwest Housing recently completed and has started leasing The Canopy Apartments at Powell, a 169-apartment community in nearby east Portland.

The state’s far-reaching and forward-looking efforts to address the critical shortage of affordable housing, including through legislation and local bond measures passed by voters in recent years, attracted USA Properties to Oregon, said company President Geoff Brown.

“Oregon has been working hard on developing more affordable housing and ensuring lower-income residents have a quality, safe place to call home,” said Brown, who knows the Portland area well, earning a bachelor’s degree in Economics from Willamette University in Salem. “In a short time, we have already developed strong relationships in the region and enjoy working with Northwest Housing Alternatives and Oregon Housing and Community Services.”

Geoff Brown portrait
USA Properties Fund President Geoff Brown

‘One more step forward in addressing the critical housing crisis in the Portland metro region’

A public-private partnership is critical for Terracina Vista, located in the Rockwood-West Gresham Urban Renewal Plan. The urban renewal plan is an effort to boost the economy, improve job opportunities, provide more affordable housing and revive the Rockwood neighborhood.

“Northwest Housing Alternatives is committed to increasing access to safe, stable and affordable housing,” said Trell Anderson, Executive Director of Northwest Housing Alternatives. “Our investment in Terracina Vista is one more step forward in addressing the critical housing crisis in the Portland metro region and helping some of our most vulnerable community members. Affordable housing serves as the foundation for building a better future, from improving health to the overall well-being of residents.”

Terracina Vista 3 | USA Properties Fund, Inc.
Terracina Vista will include a community room, computer workstations and inside bike storage, a popular feature in the bike-friendly Portland region.

Terracina Vista will provide much-needed affordable housing for low-income residents in the Portland area, where half of households that rent are considered “cost-burdened,” spending at least 30% of their income on housing, according to the Joint Center for Housing Studies of Harvard University. More than one of every four (27%) households that rent spend at least half of their income on housing.

Andrea Bell | USA Properties Fund, Inc.
Oregon Housing and Community Services Director Andrea Bell

“The need for affordable housing across the state is one of the most pressing issues many Oregonians are facing day in and day out,” said Oregon Housing and Community Services Director Andrea Bell. “Incomes have not kept up or adjusted for inflation. Our collective mandate is to continue to come together and prioritize the creation of housing developments like Terracina Vista.”

Terracina Vista is for residents earning less than 60% of the area’s median income – about $67,680 per year for a family of four. Rents will be announced closer to the completion of Terracina Vista, but will be hundreds of dollars less than nearby market-rate apartment communities.

Three-bedroom units offer more space for families

Just as important as the affordable housing are the size of the units, housing officials say. Almost half of the apartments in Terracina Vista will have three bedrooms, helping meet an often-overlooked and underserved group of renters – families.

“We are committed to meeting the housing needs of all residents, whether they are a growing family or retirees living on a fixed income,” said Brown of USA Properties. “As much as we are building apartment communities, we are also developing a community where people from various backgrounds will share experiences, enjoy time together and support each other.”

Terracina Vista will feature a community room, where residents can connect and get together. Other amenities will include elevators and laundry facilities in the four-story building.

Apartments will include energy-efficient appliances and lighting, and low-flow faucets, showers and toilets.

USA Properties will continue to look at other possible projects in the Portland area, which needs an estimated 58,600 more homes to meet the current demand for housing – the 19th-largest deficit in the U.S., according to Just For Growth.

“Terracina Vista is another important step in a very long journey,” Brown said. “Every home that becomes available opens the door for another opportunity for residents.”

Luxury apartment community Adega II starts leasing in Rohnert Park

8 affordable apartments are available for moderate-income residents. Amenities include a clubroom, saltwater pool and spa, fitness center, and a dog park and pet wash area

USA Properties Fund and property manager Greystar have started leasing Adega II in Rohnert Park, the second phase of the luxury apartment community that will include eight units for moderate-income residents to help meet the critical need for more affordable housing in Sonoma County.

The Adega apartment community – located at 541 Carlson Avenue, a few blocks west of Highway 101 and just north of the Rohnert Park Expressway – is part of the Five Creek subdivision in the former Rohnert Park Stadium neighborhood.

Adega is close to numerous stores – including Costco, Safeway and Walmart – dozens of local and national chain restaurants, several health providers and a community park built by USA Properties Fund.

Adega held a grand opening and ribbon-cutting ceremony with the Rohnert Park Chamber of Commerce on Nov. 8.

The first phase of Adega was completed in mid-2021 and was quickly leased. The same is expected with the soon-to-be-completed Adega II.

“It’s an awesome location, with amazing amenities,” said Tanner Amos, a Senior Manager for Greystar. “Adega II is a second opportunity to get into the community.”

Adega II will add 74 apartments, including eight apartment homes for moderate-income residents. Those apartments are for residents earning 120% or less of the median income for Sonoma County, or $122,950 for a two-person income household. 

The more affordable apartments could be home to early-in-career professionals, such as first responders, government employees or school teachers. The affordable apartments – about one-third less than nearby units in nearby market-rate properties – could help hard-working families with children save for their first home or retirees living on a fixed income. 

“Rohnert Park is the Friendly City, and that includes our commitment to being housing-friendly,” said Rohnert Park Mayor Samantha Rodriguez. “The city prioritizes housing at all levels, and these new units will help provide much-needed housing in our community. We’re especially pleased that eight of those units will be priced as affordable.”

According to a new report from Up For Growth, Sonoma County has a shortage of about 7,400 homes. And almost three of every five renters spend at least 30% of their income on rent, with another 28% spending more than half of their income on housing, according to the Joint Center for Housing Studies of Harvard University.

USA Properties is committed to building affordable apartment communities and help address the housing shortage in Sonoma County. The Roseville-based company has 10 apartment communities in Sonoma and Napa counties, including nine affordable apartment communities.

“We’ve enjoyed much success and developed strong relationships with the cities in the region,” said Geoff Brown, President of USA Properties. “Adega II allows us to offer quality housing to a range of income levels – and with a range of space needs.”

Large apartments with a long list of amenities and features

When completed, the Adega apartment community – the first and second phases combined – will have a total of 209 homes.

Adega offers one- to three-bedroom apartments, with units ranging from 780 to 1,348 square feet, about 30% larger than nearby units in the Wine Country, according to RENTCafe.

Residents, regardless of their income, will enjoy a long list of amenities and features at Adega.

Apartments include Energy Star stainless-steel appliances, Quartz countertops, roll-down shades and wood plank flooring. A limited number of garages are available for residents.

Adega also includes a clubroom with a catering kitchen and fireplace; a saltwater pool and spa; a fitness room; an outdoor lounge area with fireplaces and firepits; an outdoor kitchen with barbecues; a dog park and pet wash area; and electric vehicle charging stations.

“Adega has a lot to offer all of its residents,” Brown said. “And it helps meet a need.”

USA Properties is the nation’s 15th-largest affordable housing developer — and the leader in California

USA Properties Fund was among the nation’s top 15 affordable housing developers in 2022 – and the leader in California, according to a closely watched list.

The Roseville-based company ranked No. 15 with 914 affordable apartments under construction in 2022, a huge jump from No. 45 in 2021, according to Affordable Housing Finance. Last year, USA Properties started affordable apartment communities from Lancaster in Southern California to Portland, Oregon.

The current ranking is the highest-ever for USA Properties – and one of the largest one-year gains on Affordable Housing Finance’s Top 50 developers list, which started in 2007.

USA Properties has 24 apartment communities and 4,350 units under some form of construction or development, easily the most since the company started in 1981.

“We are committed to building more affordable housing and meeting the need for quality homes for residents,” said Geoff Brown, President of USA Properties. “Our team has worked tirelessly to make these projects come together, and we have many more in the works.”

The Pacific Companies, based in Eagle, Idaho, was the leading affordable housing developer with almost 3,100 units under construction in 2022.

Carlsbad-based Chelsea Investment Corp. was the second-largest developer in California, finishing at No. 17 with 877 units (the company was the leader in the state in 2021). Fourteen companies based in California made the developers list.

By the numbers
  • USA Properties had 914 affordable apartments under construction in 2022
  • With 10,768 affordable apartments at the end of 2022, USA Properties is the 37th-largest affordable housing developer in the U.S.
  • The company has 24 apartment communities and 4,350 units under some form of construction or development

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Terracina at Lancaster 1 Cropped | USA Properties Fund, Inc.
Terracina at Lancaster in Southern California. The affordable apartment community has started leasing units.

USA Properties is the 37th-largest affordable housing owner in the U.S.

USA Properties finished as the 37th-largest affordable housing owner in the nation, with 10,768 units at the end of 2022, according to Affordable Housing Finance. The company was No. 32 in 2021.

Five companies were added to the affordable housing list, and a few others completed large acquisitions, including Avanath Capital with almost 3,150 units.

USA Properties has a handful of apartment communities that have been or are scheduled to be completed this year, including Terracina at Lancaster and Terracina at Whitney Ranch in Rocklin. The company has expanded into the Central Coast, with an apartment community in Marina, and north to Portland.

“We are always looking at new markets and new opportunities,” Brown said. “We’re extremely proud of our accomplishments and where we ranked on the list, but the greatest satisfaction is providing much-needed homes to residents.”

Feature photo of The Canopy at Powell apartments in Portland, Oregon

Some of the affordable apartment communities under construction by USA Properties

USA Properties starts leasing Terracina at Lancaster, an affordable apartment community in Antelope Valley

264-apartment development offers one- to four-bedroom units

USA Properties Fund has started leasing Terracina at Lancaster, an affordable apartment community with a long list of amenities in the fast-growing city in northeast Los Angeles County.

The 264-apartment community, located at 1743 E Avenue J4 just east of the Antelope Valley Freeway, is close to several public schools, shopping centers, restaurants and a Walmart Supercenter.

Terracina at Lancaster offers much-needed affordable housing and the amenities and living space that residents want, with one- to four-bedroom units.

“Terracina at Lancaster is designed to fit the housing demands of a wide range of residents, from growing families needing more room to singles and seniors seeking a smaller space,” said Geoff Brown, President of USA Properties in Roseville. The company owns Avenida Crossing, another affordable apartment community less than a mile away from Terracina at Lancaster. “We’re committed to building quality communities, and Terracina at Lancaster is the latest example of our efforts to improve neighborhoods and invest in the region.”

Terracina at Lancaster

Residents must meet income requirements

Terracina at Lancaster is available for households that earn 50% to 60% of the area median income for Los Angeles County – or less than $75,660 for a family of four.

A two-bedroom apartment rents for a maximum of $1,608, while a four-bedroom home is no more than $2,050. Those rents are significantly less than nearby market-rate units in Palmdale Lancaster, according to industry tracker RENTCafe.

Terracina at Lancaster will help financially strapped households that often spend the majority of their income on housing. More than half of households that rent in Los Angeles County are considered “cost-burdened,” spending at least 30% of their income on rent, according to the Joint Center for Housing Studies of Harvard University.

JPMorgan Chase and WNC are investment partners in the $81 million project, one of the largest for USA Properties Fund. The company owns and manages about 100 apartment communities in California, Nevada and Oregon.

“WNC is happy to make a $35 million equity investment to provide new homes for 264 families,” said Greg Hand, Senior Vice President of Developer Relations for WNC.

‘A very family-friendly community’

Construction on Terracina at Lancaster started in spring 2021. The first phase of apartments in the 11-building community are available now. All construction should be completed later this year.

The buildings surround a community space with play and recreation areas. “It’s a very family-friendly community,” said Leatha Clark, a project manager for USA Properties.

Indeed, the apartment community includes a pool, picnic and barbecue areas with shade structures, a tot-lot play area, and a sports court for basketball, four-square, hopscotch and tetherball. A community room with a hospitality kitchen, a computer area, a fitness room and on-site laundry facilities are other features of Terracina at Lancaster. Walking paths with benches along the way are part of the 11-acre community.

Apartments will include energy-efficient appliances and light fixtures, ceiling fans and low-flow faucets, showers and toilets. Ground-floor apartments will have a patio, with a balcony for those on the second- and third-floor units.

The post continues after photos of the living room and the kitchen.

LivingRoomND | USA Properties Fund, Inc.
KitchenND | USA Properties Fund, Inc.

Some social services available for residents through partner LifeSTEPS

The apartment community will include an after-school resources room, a flexible space where children can do homework and adults can enjoy hobbies and learn new skills such as computer training, financial literacy, and health and wellness, said Hand of WNC.

Social services provide LifeSTEPS will have a counselor and resources available for residents at Terracina at Lancaster. Residents will also have access to The JB Brown Fund, a partnership between USA Properties and LifeSTEPS that provides college and youth sports scholarships and financial assistance to residents for unexpected emergencies.

“Our communities are so much more than just buildings,” said Brown of USA Properties. “We want to help residents connect with each other and achieve their dreams. We help build a more stable future for our residents and the communities where they live.”

USA Properties Fund is also committed to curbing its environmental impact. Terracina at Lancaster’s energy-efficient and environmentally friendly features include a solar panel system, recycled material insulation, mechanical ventilation for improved air quality, and water-efficient landscaping and irrigation system. “We want residents to feel good about where they live, in every way possible,” Brown said.

Community leaders, partners and residents celebrate the opening of Sage at Folsom

USA Properties Fund celebrated the grand opening May 4 of Sage at Folsom, an affordable apartment community for residents 55 years and older.

More than 50 people, from community leaders to neighbors, attended the ribbon-cutting for the 111-apartment community that is close to major shopping centers and Highway 50.

Sage at Folsom, located at 75 Scholar Way, offers affordable one-bedroom apartments for seniors at various income levels while providing a long list of amenities, including a community garden, dog park and bocce ball court.

“When you go through life, you never know where you will be,” said recently retired Folsom business owner Pete Lopez, who moved into Sage at Folsom in early April. Lopez appreciates his new home, the amenities, the location, his new neighbors and the staff. “They had open arms and welcomed me here. I appreciate everyone coming together.”

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‘Comfortable and affordable housing … where residents can enjoy their golden years’

Indeed, Sage at Folsom is possible thanks to a public-private partnership that includes USA Properties, Bank of America and the City of Folsom. Banner Bank is the permanent lender on the project.

“It takes many partners to bring these communities to life,” said event emcee Steve Gall, Executive Vice President of Development and Acquisitions for USA Properties.

The City of Folsom has invested $4.5 million in Sage at Folsom. The apartment community provides “comfortable and affordable housing … a place where residents can enjoy their golden years,” said Folsom Mayor Rosario Rodriguez.

The $32 million apartment community is a few blocks from health care providers, grocery stores and down the street from a new bus stop. Sage at Folsom has easy access to the city’s bike lanes and bike trails, and a couple of miles from two light-rail stations with access to Downtown Sacramento.

Sage at Folsom also offers residents social programs through LifeSTEPS, a social services provider for affordable apartment communities in California, including many developed, owned and managed by USA Properties.

“You couldn’t ask for a more ideal location for seniors with all of the nearby services,” said Geoff Brown, President of USA Properties Fund. “But it’s more than just nice buildings for us, we’re building a community.”

The post continues following a photo gallery of Sage at Folsom

‘Providing housing and so much more’

Banner Bank announced during the grand opening a donation of $5,000 to the JB Brown Fund, a partnership between LifeSTEPS and USA Properties. The organization assists low-income residents in numerous ways, from awarding college scholarships to financial assistance for unplanned emergencies.

Sage at Folsom is “providing housing and so much more,” said Nancy Abreu, Senior Vice President and Director for Banner Bank.

Rob Reinhardt, Senior Vice President for Bank of America agrees, adding that affordable housing helps ease the stress of “making tough choices,” such as paying rent or buying groceries.  

Sage at Folsom is “a dignified, very nice place to live within their means,” Reinhardt said. “It’s nice to see the fruits of our labor pay off.”

And residents appreciate the commitment and hard work that make Sage at Folsom possible.

“I’m very grateful,” said Lopez, who walks his dog, Douglas, daily around the apartment community and watches him play in the dog park. “We’re all very thankful.”

In a previous post, you can learn more about Sage at Folsom, including income requirements.

USA Properties, Pinyon Group detail plans for Vintage at Marja Acres in Carlsbad

The 47-apartment community is part of a highly anticipated, mixed-use North San Diego community

USA Properties Fund and The Pinyon Group will begin construction this summer on Vintage at Marja Acres, an affordable apartment community for 55-and-older residents in Carlsbad as part of a mixed-use development.

The 47-apartment community – located near El Camino Real between Kelly Drive and Cannon Road – will offer affordable housing in the new Marja Acres neighborhood that will include 248 townhomes, a community park and restaurant.

Marja Acres is close to the beach and the popular Carlsbad Village downtown area with restaurants, shops and live entertainment. Residents can access bike lanes and public transit from Marja Acres, which is about 2 miles from Interstate 5.  

“Marja Acres is a high-quality, unique community, offering a close-knit and easy-to-get-around neighborhood with easy access to everything that Carlsbad has to offer,” said Geoff Brown, President of USA Properties Fund. “Vintage at Marja Acres will fit a range of needs of residents, whether they are working full time or retired.”

Construction on the $21 million apartment community is scheduled to start in the late summer. Leasing should begin in fall 2024.

“The Pinyon Group is excited to serve as co-developer with USA Properties Fund at Marja Acres,” said Jay Stark, Principal of The Pinyon Group. “Vintage at Marja Acres helps meet the growing need for affordable housing for seniors, while preserving community stability and offering senior residents a healthy and enjoyable lifestyle.”

‘Property will help meet a huge need for affordable housing in Carlsbad’

Carlsbad is one of the most in-demand cities in California, with an estimated five people seeking to live there for every single home, according to community leaders.

“Providing housing for all income levels and ages is a critical part of our housing plan in Carlsbad,” said Mandy Mills, who leads the City of Carlsbad’s Housing & Homeless Services Department. “Affordable housing is a huge challenge for coastal cities like Carlsbad, which is why projects like this are so important.”

The City of Carlsbad, Riverside Charitable Corporation and WNC Inc. are partners in Vintage at Marja Acres. JP Morgan Chase is the construction and permanent lender for the project.

“WNC is excited to partner with USA Properties Fund on Vintage at Marja Acres,” said Anil Advani, Executive Vice President of Originations and Finance for WNC. “The property will help meet a huge need for affordable housing in Carlsbad, one of the most supply-constrained cities in California from an affordable housing perspective.”

55-and-over affordable community

Residents at least 55 years old who earn 30% to 60% of the area’s median income for San Diego County – about $27,000 to $62,000 – are eligible for Vintage at Marja Acres.

Residents will enjoy the benefits of the apartment community and the one-of-a-kind neighborhood at significantly lower rents compared to nearby market-rate units in Carlsbad. Rents for the one-bedroom apartment community will average about $1,200, depending on the income of residents.

The three-story apartment building will include a wellness/health center and on-site laundry. Apartments will feature energy-efficient appliances and light fixtures, ceiling fans and low-flow faucets, showers and toilets.

Vintage at Marja Acres will also offer a range of social programs for residents.

“A prerequisite to creating safe housing for families in need of assistance is caring individuals and organizations willing to work together with the common goals of creating affordable housing and ensuring the availability of indispensable social programs that enable people to empower themselves, establish self-sufficiency, strengthen their families and help their neighborhoods to be safe, productive communities,” said Ken Robertson, President of Riverside Charitable Corporation. “RCC is proud to offer our seniors beautifully designed affordable housing and services to support their everyday lives.”

Marja Acres development pays homage to the former nursery on the property

IHP Capital Partners and KB Home are partnering in Marja Acres’ overall development. The infill community pays homage to a former nursery that once occupied the property through its name and urban farm aesthetic. The neighborhood will also include a range of amenities such as a daycare, 2,000 square feet of restaurant space, parks, a community center, a dog park and others.

“Marja Acres is a special Southern California project that offers Carlsbad residents a beautiful new home community with a lifestyle that reflects the surrounding area’s heritage and charm and coastal feel,” said Blaine Peterson, Managing Partner and Senior Vice President at IHP Capital Partners. “The development has been in the works for several years and we are excited to see this next phase where the affordable apartment component begins to take shape and come to life. USA Properties Fund and The Pinyon Group bring a strong team of skilled professionals to the project, and IHP is grateful for their expertise and partnership.”

Roseville-based USA Properties – one of the nation’s fastest-growing and largest affordable developer-manager-owners – has 15 apartment communities with a combined 2,800 units under construction and more than 12,000 units under management.

Vintage at Maja Acres will be the second USA Properties Fund-owned and -managed apartment community in Carlsbad, joining the nearby Rancho Carrillo Apartments, and its sixth in San Diego County. USA Properties recently started construction on 8181 Allison, a 147-apartment community in downtown La Mesa about 35 miles away.

“We’re always looking at new out-of-the-box ideas and opportunities like Marja Acres, and how we can elevate our communities and the lives of residents,” said Brown of USA Properties. “Vintage at Marja Acres will be a very special community in a one-of-a-kind neighborhood.”

Community leaders and partners celebrate the groundbreaking of Mainline North in Santa Clara

Community leaders and development officials detailed the incredible demand and need for more affordable housing during a groundbreaking celebration  April 18 for Mainline North, an affordable apartment community near Levi’s Stadium in Santa Clara.

Several dozen people attended the event for the 151-apartment community, located in the 2300 block of Calle del Mundo, near Tasman Drive and Lafayette Street. The $81 million development is part of the city’s award-winning Tasman East Specific Plan, an effort to establish a transit-oriented and walkable neighborhood. 

Mainline North is a few blocks from a large grocery store, an elementary school, a park, and public transportation – including a couple of bus stops and the Lick Mill light-rail station.

Construction on the eight-story building has started and should be completed in early 2025.

The apartment community will be available to households that earn 30% to 70% of the area’s median income.

Mainline North will offer studios to three-bedroom, two-bath apartments that fit the budget and space needs of a wide range of residents, from single-person households to families.

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USA Properties Fund and The Pinyon Group are the co-developers of Mainline North. The private-public partnership also includes Bank of America, the California Housing Finance Agency (CalHFA), the City of Santa Clara, Google, Housing Trust Silicon Valley, Ensemble Real Estate Investments and Related.

The California Tax Credit Allocation Committee and the California Debt Allocation Committee are financial partners.

You can learn more about Mainline North, including the amenities of the apartment community and the units, from a recent post on the USA Properties Fund website.

Applications are being accepted for The AJ, the first development in the Sacramento Railyards

345-apartment community includes a rooftop lounge, pool and spa, and an always-open, state-of-the-art gym

USA Properties Fund will begin accepting applications for The AJ, a much-anticipated mixed-use apartment community that will become the first completed project in The Railyards, the nation’s largest-ever infill development.

The high-profile Railyards district will feature shops and restaurants, offices, a Kaiser Permanente medical campus, and much-needed housing – with The AJ being the first to open.

“As people begin to move into The AJ, we will be realizing what we have been dreaming about for The Railyards,” said Sacramento Mayor Darrell Steinberg. “This is the next step in transitioning what was vacant land full of opportunities to a bustling urban neighborhood.”

Tour The AJ with Fox40

The AJ, located at 251 6th Street at the intersection of Railyards Boulevard, offers easy access to bus lines, light-rail service, interstates 5 and 80, and a short distance from the Golden 1 Center,  Midtown Sacramento and many employers, including state government. The AJ also includes more than 5,000 square feet of ground-floor retail.

“The AJ is an excellent example of what is possible from private-public partnerships and when organizations come together to help meet the housing needs of residents at a range of income levels,” said Geoff Brown, President of USA Properties.

The AJ is a partnership between LDK Ventures, the managing member of Downtown Railyard Venture, and USA Properties Fund. The $130 million project received significant assistance from the City of Sacramento, the California Department of Housing and Community Development, and the Sacramento Housing and Redevelopment Agency. Citi Bank Community Capital provided the construction and permanent financing.

“The Railyards is a landmark project that will soon become a vibrant neighborhood,” said Denton Kelley, Managing Principal of LDK Ventures. “The AJ ushers in a new era for The Railyards, and a new chapter for Sacramento.”

The 345-apartment community includes 69 affordable homes. Residents who earn 50% or less of the area median income for Sacramento County – currently $35,500 for a one-person household – are eligible for the affordable apartments at The AJ.

USA Properties Fund will begin accepting applications for the affordable apartments at 9 a.m. Tuesday, April 11, and Wednesday, April 12, at the Hilton Garden Inn, 20 Advantage Court in Sacramento. Applications will be accepted on a first-come, first-served basis and residents must bring documents to verify their income.

Applications for market-rate apartments will be scheduled in the coming weeks.

The first phase of apartments will be available around June 1, with a second phase opening in August.


All residents, regardless of their income, will enjoy a long list of amenities in their apartments and throughout the community named for A.J. Stevens, a community leader and legendary Southern Pacific Master Mechanic who worked in The Railyards in the 1870s and 1880s.

“The AJ is a home for everyone,” said Brown of USA Properties.

Amenities include an always-open, state-of-the-art gym and a sky lounge with a rooftop observation deck with fire tables, gas grills, TVs and dining areas. The AJ also includes a pool and spa with private cabanas; bike storage with a repair station; a pet spa; flexible workspaces and telephone rooms. A secure parking garage with 16 EV-charging stations is available for residents.

The apartments – studio, one- and two-bedroom homes – will offer energy-efficient, stainless-steel appliances; designer finishes such as two-tone cabinetry; quartz countertops; ceiling fans; rainfall showerheads; full-size washers and dryers; and walk-in closets. Ground-floor apartments will feature stained concrete floors with vinyl wood-plank floors and carpet on the other floors of the five-level building. Apartments will also feature smart lock access (keyless entry) and touchscreen displays will allow residents to see deliveries and visitors.

The AJ Kitchen Mini Model | USA Properties Fund, Inc.

“The AJ will be a very unique, distinctive community,” Brown said.

Indeed, the apartment community will feature artwork that honors Stevens, who oversaw the building of Southern Pacific’s locomotives and rail cars in The Railyards. Local artist Cheyenne Randall is creating a mural of Stevens for The AJ.

“The AJ is a one-of-a-kind community in a first-of-its-kind development,” said Kelley of LDK Ventures. “We’re proud to honor the legacy of a community leader and railroad visionary while bringing new housing and energy to a historic district.”