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.