On Friday, Related California and its development partners, the Sacramento Housing and Redevelopment Agency (SHRA) and Itasker Hollins Community Economic Development Corporation, celebrated the start of construction of 43 units of affordable housing for seniors 62 years of age and older at 39th and Broadway in Oak Park.
“Sacramento is outpacing most of California in building affordable housing, and that is because we have partners like Related California and SHRA that are getting these projects built,” said Sacramento Mayor Darrell Steinberg. “Projects like this don’t just provide a roof over these seniors’ heads, they provide a community.”
SHRA awarded the development to Related California and the Itasker Hollins Community Economic Development Corporation through a highly competitive Request for Proposals. The agency provided the land and financial assistance. Acreage was added to the site with the addition of a parcel owned by All Nations Church. The combined sites were entitled using the State Density Bonus Law (SDBL) and SB35 to expedite the entitlements to build 43 units, more than doubling the number of units otherwise possible for this development.
The California Department of Housing and Community Development Department (HCD) and the Tax Credit Allocation Committee (TCAC) also awarded highly competitive funding to the development. Other funding is provided by Wells Fargo Bank and the California Community Reinvestment Corporation (CCRC).
“SHRA is very pleased to be partners with the City of Sacramento, Related, and Itasker Hollins Community Economic Development Corporation to provide another much needed housing project to our city. Like past projects, 39th and Broadway will be a wonderful place for Sacramento seniors to call home,” said La Shelle Dozier, SHRA Executive Director. “This development will provide yet another steppingstone in Sacramento’s effort to assist seniors in our communities.”
39th & Broadway is located across the street from The Arbors, an affordable senior community completed in 2013 through a collaboration between Related California and SHRA, creating efficiencies for property management and social services. The development is located within walking distance of Oak Park’s vibrant shopping, dining, and entertainment establishments and is adjacent to public transit, including bus service to downtown Sacramento and connections to the area’s light rail system and Amtrak.
“39th & Broadway is an example of what’s possible when public and private entities collaborate to provide safe and affordable housing for seniors. This development reflects Itasker Hollins Community Economic Development Corporation’s commitment to addressing the shortfall of affordable senior housing in the Oak Park community,” stated Pastor Itasker Hollins Jr, All Nations Church of God in Christ.
39th & Broadway will serve residents earning between 30% and 60% of the Area Median Income (AMI), with 12 of the 43 units serving formerly homeless seniors. The 3-story building will include a 1,100 square-foot community room with full kitchen and computer workstations, plus a shaded patio with a built-in outdoor BBQ. There will be landscaped open spaces with walking paths and shaded seating areas. A series of elevated planters will be available for community gardening, and a secured parking lot with 23 spaces for the residents will be located across the alley to the east of the residential site.
“We are pleased to partner with the SHRA again, and the Itasker Hollins Community Economic Development Corporation to build critically needed housing with services for low income seniors,” said Ann Silverberg, CEO, Related California NorCal Affordable and Northwest Divisions. “These public-private partnerships are essential to address the region’s housing supply shortage.”
Construction is expected to be completed in September 2024.
About Related California
Related California, the West Coast affiliate of Related Companies, is a fully integrated real estate firm that develops multifamily residential and mixed-use properties in California.
Since 1989, Related California has undertaken a range of transformational developments from best in class luxury high rise residential properties to the redevelopment of obsolete public housing, spanning a broad spectrum of urban infill, affordable, mixed-income and market rate multi-family developments. The company has a development portfolio of more than 19,500 residential units completed or under construction, and more than 4,200 affordable and 7,300 market rate units in pre-development.
Related California has a long history of community partnership, having collaborated with more than 40 municipalities and over 30 non-profit organizations throughout California, and has successfully developed and managed a broad range of property types throughout Alameda, Contra Costa, Los Angeles, Orange, Sacramento, San Bernardino, San Diego, San Francisco and Santa Clara counties. Related California has developed more than $9.3 billion in assets and has a track record of consistently developing communities that exceed industry benchmarks in design, construction, sustainability and property management. For more information about Related California, visit www.relatedcalifornia.com.
About the Sacramento Housing and Redevelopment Agency
SHRA (www.shra.org) is a Joint Powers Authority created by the City and County of Sacramento to represent both jurisdictions for affordable housing and community redevelopment needs. SHRA has a FY 2022 budget of $347.1 million and 250 employees. The Agency owns and/or manages approximately 3,200 units of affordable housing and is one of the largest landlords in Sacramento. SHRA also administers approximately13,200 rent assistance vouchers per month. (916) 444-9210 | TTY 711 or 1 (800) 855-7100 | www.shra.org