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.”

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.

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.”