PLACERVILLE, CALIFORNIA

Real Estate

Affordable family housing opens in Folsom

By From page C4 | June 29, 2012

FOLSOM — A new affordable family housing community, the first new project of its kind in Folsom in two decades, celebrated its grand opening on June 21.

Folsom Mayor Kerri Howell, USA Properties Fund President Geoff Brown and Sacramento Housing and Redevelopment Agency Executive Director La Shelle Dozier spoke during the grand opening at 9483 Greenback Lane in Folsom. Tours of furnished and empty models were also part of the event.

The 55-unit community offers one-, two- and three-bedroom apartments for families earning 50 percent to 60 percent of the median income for Sacramento County. For example, a family of three can make up to $41,100 per year to qualify while a family of five can make up to $49,320.

Rents range from $664 per month for a one-bedroom apartment to $1,118 for a three-bedroom unit. Units are immediately available for families. More information is available by calling 916-987-1007 or e-mail at [email protected].

“We have used our housing set aside funding from the now former Redevelopment Agency in a responsible manner to assist in the construction of affordable housing,” said Howell. “The city of Folsom believes strongly that we must facilitate a range of housing options for a variety of income levels and ages. We will continue to work with our partners at USA Properties and we are proud to have been of assistance for the construction of these beautiful apartments.”

“This new housing development is a valuable asset for Folsom because it helps fill an unmet need for rental housing that low-income families in this community can afford,” said La Shelle Dozier, executive director of the Sacramento Housing and Redevelopment Agency. “Projects like this one also exemplify the critical need for continued federal funding to provide housing that enables residents to enjoy a much better quality of life.”

USA Properties Fund built the Forestwood community in partnership with a number of entities, including the city of Folsom and the Sacramento Housing and Redevelopment Agency. The $12.6 million project was built on an infill site on Greenback Lane between Main Avenue and River Rock Drive, close to Highway 50, light-rail stations, shopping, Folsom Lake College and nearby Folsom Lake.

“We are pleased to complete this project and provide affordable, quality housing in Folsom that is close to schools, shopping, transportation and even recreational areas,” said Brown. “This infill development shows what is possible with a private-public partnership, and how working together benefits everyone.”

Forestwood features four buildings, including a 1,000-square-foot clubhouse with an office, restrooms, a service kitchen and family activity area. A separate laundry room and children’s play area are also part of the community.

Forestwood offers 18 one-bedroom, one-bath units; 20 two-bedroom, two-bath units and 17 three-bedroom, two-bath units. The apartments include energy-efficient appliances, kitchen pantries, ceiling fans and vertical blinds.

The project boasts other special energy-efficient features, including solar panels and tankless hot water heaters.

Forestwood is a LifeSTEPS community. The Fair Oaks-based nonprofit provides educational and support services to empower residents with the skills, resources and support they may need to maintain stable housing and break the cycle of poverty. For example, an after-school program will offer much-needed supervision of children and much-appreciated support for hardworking parents who live at Forestwood.

In addition, Forestwood residents are eligible to apply for the J.B. Brown Fund. The fund helps provide tuition assistance to qualified high school graduates and adult learners to attend two- or four-year colleges or universities. The fund distributed $9,750 to USA Properties Fund residents in 2011.

The J.B. Brown Fund also helps families in USA Properties Fund communities pay for their children to participate in school and community sports, including registration fees, equipment and other costs. LifeSTEPS social workers and after-school program coordinators identify children and families for the program, which starts in July.

About USA Properties
USA Properties Fund Inc., a California corporation, is a privately owned real estate development organization specializing in the creation of outstanding senior and family communities.

Founded in 1981 and headquartered in Roseville, USA Properties Fund provides a full range of capabilities for community development, including financing, development, construction services, rehabilitation and property management. Values, leadership and team structure reflect its success with the development/ construction and acquisition/rehabilitation of more than 11,000 units of family and senior apartments in more than 72 communities throughout California and Nevada.

For more information visit usapropfund.com.

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