Promising start to cool, nothing beats the birth of an apartment available.
Last week, the Parkside apartments in Sycamore opened in West Capitol Avenue West Sacramento. Be the first U-trails have prevented any truck with the boxes, the project has 62 units stands out like a bright flame of color on a street I needed. Parkside is a new Appendix A, "the first major project" for the purpose of rehabilitation of the city stretching from coarse West Capitol Avenue, under the management of the rehabilitation of the city, Les Bowman.
Not surprisingly Parkside lease quickly. The spacious apartments. They have dark wood laminate flooring and refrigerator and stove. Ideally, for those who work in jobs that often means running start renting apartments or residential scary, from $ 407 per month. Peaking at $ 1,049 for three bedrooms and two bathrooms.
Saved by Sammy, a 23-year-old Bel Air Market in Natomas marketer, making his first apartment can be. Bye, Mom and Dad in Natomas.
"The market is still high," he said after looking at lease two years. "Here, the cost of living is easy."
Roseville fund development of affordable housing one of the most American of new construction projects eligible income in cooperation with the Idaho communities of the Western Pacific. Together, they fund complex with $ 20,000,000 in state and federal tax credits of $ 1,900,000 of bonds, $ 2,600,000 in the city of West Sacramento Redevelopment funds and construction loans from Minneapolis-based U. S. Bancorp. Parkside now hiring for workers and retirees who earn $ 15,000 to $ 50,000 per year.
"There is a perception that this is the welfare of the residents. But this is wrong. This is the working people," said chairman Geoff Brown.
Specifically, it is Satnam Kaur and Surinder. The couple with two children, also moved from her parents' house in Sacramento.
"We like that is a new development," said Surinder Kaur. Below the apartment Monday, friends and unloading a U-Haul. "There is a church near India. I love it," she said. "It's the best we have seen in our price range."
The opening week rent a similar story. Natomas that a reform movement to reduce their rent by $ 217 per month. And for more space and wood laminate flooring! The 23-year-old, just out of technical school with a woman at work, said his income had fallen to $ 50 per month for an apartment nearby.
Parkside Management Juana Escalante said many tenants in nearby buildings and clusters of trailer park.
"A lot of pent up demand for affordable housing and thought throughout California," Brown said.
Sacramento apartment industry players said this building is very accessible only happens locally. They said that banks will not lend to build market rate apartments.
Why? Developers overbuilt during the boom. vacancy rate remains high. No need for new area of $ 1.400 a flat month as the unemployment rate is around 12 percent.
However, people can develop a layer of a complex maze of subsidies - the U.S. and St. Anton Partners of them local - no problem finding tenants.
Parkside opened 89 percent leased, said Brown. Judging by the rent and mood of opening week, it won't take long to reach 100.