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.”

Terracina Vista Rendering New 2 | USA Properties Fund, Inc.

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 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.”

The post continues after the following photo gallery of the grand opening

‘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.

Post continues after the photo gallery

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.

A COMMUNITY FOR ‘EVERYONE’

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.” 

USA Properties starts leasing Sage at Folsom, an affordable apartment community for seniors

The City of Folsom and Bank of America are investment partners in the 111-apartment home community

USA Properties Fund Inc. has started leasing the soon-to-be completed Sage at Folsom, an affordable apartment community for residents 55 years and older close to major shopping centers, Folsom Lake College and Highway 50.

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

The 111-apartment home community is a few blocks from health care providers, grocery stores and several large shopping centers, including Broadstone Plaza and the Palladio Shopping Center. Sage at Folsom also is a block away from a new bus stop, 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.

“It’s an affordable apartment community in a market-rate location, close to everything that Folsom has to offer,” said Geoff Brown, President of USA Properties Fund. “Sage at Folsom is in an excellent neighborhood in a fast-growing and very livable city.”

USAP Sage at Folsom Front | USA Properties Fund, Inc.
Final weeks of construction for Sage at Folsom at 75 Scholar Way.

New apartment community will ‘help ensure a mix of housing options’ in Folsom

Sage at Folsom is the fourth apartment community for USA Properties in the Folsom area, including the award-winning communities of Forestwood at Folsom and Talavera, a market-rate development less than a mile away. The Roseville-based company has about 35 apartment communities in the Sacramento region.

Bank of America and the City of Folsom are investment partners on the $32 million Sage at Folsom project.

“The City of Folsom is committed to providing a wide range of housing opportunities across the city, and efforts to diversify our housing options are gaining ground,” said Folsom Mayor Rosario Rodriguez. “Since 2019, the city has more than 530 affordable units in development or completed. These affordable multifamily communities – including Bidwell Pointe, Bidwell Place, Bidwell Studios, Peterson Place, Mangini Place, and Sage at Folsom – help ensure a mix of housing options so people of all ages, incomes, and stages in life have the chance to make, or keep, Folsom as their home.”

Sage at Folsom will greatly help with the incredible need for more affordable housing in Folsom and the Sacramento region, especially for low-income seniors.

Age-eligible residents must have income at least two times the rent but cannot exceed $56,800 per year for a one-person household or $64,889 for a two-person household. Rents range from $500 to $1,450, based on income.

However, all of the apartments for residents earning 30% of the area median income are currently leased.

USA Properties is accepting applications by appointment only at Vintage Woods, 8780 Madison Ave. in Fair Oaks. Call 916-292-3505 or email [email protected] for an appointment or more information about Sage at Folsom.

USAP Sage at Folsom Seating Area | USA Properties Fund, Inc.

Long list of amenities includes a clubhouse, bocce ball court and dog park

Sage at Folsom is affordable but boasts a long list of amenities, some often only found in market-rate properties.

Residents will enjoy a clubhouse with a kitchenette and great room; a health and wellness center; a patio with dining and seating areas; a bocce ball court; and a dog park. Sage at Folsom is a smoke-free community, requiring residents to leave the property if they smoke.

Apartments will feature energy-efficient appliances and light fixtures, low-flow faucets, showers and toilets. Each of the three floors will include laundry facilities for residents.

“It’s affordable but amenities-rich,” said Brown of USA Properties. “Sage at Folsom is a great place to call home, whether you commute to work or are retired.”

Sage at Folsom is the latest apartment community recently completed or under construction by USA Properties in the Sacramento region.

The company just completed and has started leasing Aurora, a market-rate apartment community in Gold River, and is a partner on The A.J., the first multifamily project scheduled to open this summer in The Railyards in Sacramento. USA Properties started construction last summer on Terracina at Whitney Ranch, an affordable apartment community in Rocklin that should open in early 2024. And the company completed an extensive $5.7 million renovation of Sierra Sunrise, an affordable apartment community for seniors in Carmichael, in early 2022.

“We are expanding into new markets in the West, from Monterey County to Portland (Ore.),” Brown said. “But we remain as committed as ever to building quality housing in our own backyard of the Sacramento region.” 

Interested? Want to apply for Sage at Folsom?

USA Properties is accepting applications by appointment only at Vintage Woods, 8780 Madison Ave. in Fair Oaks. Call 916-292-3505 or email [email protected] for an appointment or more information about Sage at Folsom. 

La Mesa celebrates the groundbreaking of 8181 Allison

Community members, city leaders and development partners attended a groundbreaking celebration Tuesday, Jan. 24, for 8181 Allison, an affordable apartment community in downtown La Mesa.

Several speakers – including La Mesa Mayor Mark Arapostathis and USA Properties Fund President Geoff Brown – detailed the benefits and importance of the 147-apartment community to help meet the need for more affordable housing in the region.

(Post continues after the photo gallery. You can see more photos on photographer Melissa Jacobs’ website.)

The transit-oriented development – located at 8181 Allison Avenue, at the southeast corner of Allison and Date avenues, near University Avenue and Spring Street – allows residents easy access to public transportation. 8181 Allison is a very short walk to a trolley station and several bus stops, and just south of Interstate 8, an east-west freeway that connects to much of the San Diego region.

The $67 million development is in La Mesa’s Downtown Village, which includes a large grocery store and pharmacy, more than 30 restaurants, City Hall and the city library.

USA Properties Fund is the developer-manager-owner of 8181 Allison. The public-private partnership includes the California Housing Finance Agency (CalHFA), the City of La Mesa, KeyBank and WNC.

Construction should be completed in late 2024.

You can learn more, including income requirements and rent for the one- and two-bedroom apartments, from the news release on 8181 Allison. (URL LINK)

USA starts construction on 8181 Allison to provide more workforce housing in La Mesa

Public-private partnership that includes the City of La Mesa, CalHFA, KeyBank and WNC paves the way for 147-apartment community next to a trolley station, bus stops and the city’s Downtown Village

LA MESA, Calif. – USA Properties Fund has started construction on 8181 Allison, an affordable apartment community in La Mesa that will provide much-needed housing to residents, from early-in-their-career teachers and emergency responders to retirees living on a fixed income – all adjacent to public transportation.

The transit-oriented development – located at 8181 Allison Avenue, at the southeast corner of Allison and Date avenues, near University Avenue and Spring Street – is a very short walk to a trolley station and several bus stops, and just south of Interstate 8, an east-west freeway that connects to much of the San Diego region.

8181 Allison is in La Mesa’s Downtown Village, with a large grocery store and pharmacy, more than 30 restaurants, City Hall and the city library. The apartment community has a Walk Score of 90, which means daily errands don’t require a vehicle.

“It’s a development that checks the boxes in so many ways, from providing affordable housing to cost-effective and environmentally friendly public transportation options for getting around the community,” said Geoff Brown, President of USA Properties Fund. “It’s an excellent location for affordable housing, with easy access to so many businesses and services.”

‘FLEXIBLE, CREATIVE AND COLLABORATIVE

The 147-apartment community is part of a public-private partnership that includes the California Housing Finance Agency (CalHFA), the City of La Mesa, KeyBank and WNC.

“The City of La Mesa is thrilled that this project, which has been in the works for many years, has become a reality,” said La Mesa City Manager Greg Humora. “We are extremely excited to provide additional housing options for a variety of residents in a prime location with supreme access to transit and commercial options, including the Downtown Village.”

The public-private partnership was key for the $67 million development that will provide affordable housing for low-income residents in a region where more than half of renters are considered “cost-burdened,” spending at least 30% of their income on housing, according to the Joint Center for Housing Studies of Harvard University.

Rents for 8181 Allison apartments will be significantly less compared to nearby market-rate units in La Mesa – and available to residents that earn a wider range of income levels, thanks to CalHFA’s Mixed Income Program. The state agency issued tax-exempt bonds and provided long-term permanent and subsidy loans for the project.

“In this economic environment, we have to be flexible, creative and collaborative to produce affordable housing like this development that can be life-changing for families in La Mesa,” said CalHFA Executive Director Tiena Johnson Hall. “I am thrilled that CalHFA and USA Properties Fund were able to work together on a financing solution that includes subsidy funds through our Mixed-Income Program.”

KeyBank Community Development Lending and Investment provided a $42.78 million construction loan for 8181 Allison.

“KeyBank has a steadfast commitment to helping the clients and communities we serve thrive,” said Jeremiah Drake, Senior Relationship Manager for KeyBank Community Development Landing and Investment. “We’re excited to work with USA Properties, an experienced affordable housing developer that is committed to making a real difference in neighborhoods.”

AFFORDABLE – AND AMENITIES RICH

8181 Allison will offer affordable one-bedroom and two-bedroom, two-bath apartments in a region where rent increases have easily exceeded pay raises during the past several years. The cost crunch has caused many hardworking, lower-income residents to pay more for housing or live outside the city and commute to work, which creates another financial burden.

8181 Allison will be available for households that earn 30% to 70% of the area’s median income – or about $29,000 to $82,000 per year. Auto mechanics, home health aides, early-in-their-career teachers and police officers, and even many employees in the tech industry will meet the income requirements.

Construction on the 147-apartment community should be completed in late 2024. Rents will range from about $700 to $1,675 per month for one-bedroom apartments, depending on the income of residents. Rent for two-bedroom apartments is about $835 to $2,000.

The apartments are affordable but come with a long list of amenities. The four-story apartment building will include a community room with a kitchen, a fitness center, computer stations, a wi-fi area, on-site laundry, outdoor courtyards, a spa and a sky deck. The 117-space parking garage will include EV-charging stations.

Apartments will feature energy-efficient appliances and light fixtures, ceiling fans and low-flow faucets, showers and toilets.

Residents will also have access to social services, such as financial planning, job search assistance and stabilization.

8181 Allison will be the second USA Properties Fund apartment community in La Mesa, joining Campina Court Apartments about 3 miles away. The company has six apartment communities in San Diego County, including Vintage at Marja Acres Senior Apartments soon to be under construction in Carlsbad. The Roseville-based company – 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.

“We are building more than apartments, we are establishing homes and developing neighborhoods,” said Brown of USA Properties Fund. “But, most importantly, we are providing financial and housing stability, and opening the door to more opportunities for residents.”