New buildings bring luxury and affordable housing to Sacramento


AFFORDABLE RENT, BUT THE HARDEST
PART IS GETTING IN.>>THIS IS OUR STANDARD ONE
BEDROOM, ONE BATH APARTMENT. MIKE: MANAGER ROSE MELCHOR IS
PROUD OF THE NEWLY REFURBISHED
BEL VUE APARTMENTS THAT COME
WITH ALL THE MODERN AMENITIES.>>ALL OF THE UNITS COME WITH
STAINLESS STEEL APPLIANCES. MIKE: THE UNITS MEASURE 632
SQUARE FEET, BUT FEEL VERY
SPACIOUS, YET THE MOST POPULAR
FEATURE IS THE PRICE. STARTING AT $424 A MONTH FOR LOW
INCOME CALIFORNIANS. AND TOPPING OUT AT $895 A MONTH
FOR NEW RESIDENT SAMOL UM.>>BUT AS SOON AS I FOUND IT I
KNEW IT WAS JUST CALLING MY
NAME. MIKE: FOR YOUNG PEOPLE, LIVING
DOWNTOWN AND BEING CLOSE TO WORK
IS A REAL DRAW, ESPECIALLY IN A
TIGHT AND VERY EXPENSIVE HOUSING
MARKET.>>I’VE ONLY BEEN HERE FOR THREE
YEARS IN SACRAMENTO AND JUST TO
BE ONE OF THE ONES TO BE ABLE TO
BE IN THIS AFFORDABLE HOUSING IN
THIS AREA, IT’S FANTASTIC. MIKE: THE BEL VUE’S 22 UNITS ARE
ALL TAKEN, AND HAD TO BE AWARDED
BY LOTTERY ACCORDING TO
DEVELOPER CYRUS YOUSSEFFI.>>I CAN RENT THESE IN FIVE
MINUTES. MIKE: BUT THIS IS JUST THE
BEGINNING OF AN URBAN
REVITALIZATION FOR DOWNTOWN
SACRAMENTO.>>AT THIS POINT THERE’S A
POTENTIAL FOR ALMOST 2500 NEW
RESIDENTS TO CALL DOWNTOWN HOME. MIKE: MICHAEL AULT, EXECUTIVE
DIRECTOR OF THE DOWNTOWN
SACRAMENTO PARTNERSHIP SHOWED US
MULTIPLE PROJECTS IN THE
PIPELINE, DESIGNED TO EASE
SACRAMENTO’S HOUSING CRUNCH. THEY RANGE FROM AFFORDABLE TO
MARKET RATE TO LUXURY UNITS. THEY INCLUDE THIS MIXED USE
HOUSING DEVELOPMENT NOW UNDER
CONSTRUCTION AT 14TH AND Q. IT WILL HAVE 75 UNITS AND 9000
SQUARE FEET OF RETAIL SPACE WHEN
COMPLETED. CONSTRUCTION CREWS ARE ALSO
BUILDING THE PRESS AT 21ST AND Q
STREETS, WHICH WILL INCLUDE 277
UNITS AND 8000 SQUARE FEET OF
RETAIL SPACE. AND WORK IS UNDERWAY AT 16TH AND
H STREET THAT WILL SOON BE HOME
TO 75 APARTMENT UNITS. AND THIS PROJECT AT 19TH AND J
IS REALLY TAKING SHAPE FOR 173
STANDARD AND MICRO UNITS WHEN IT
OPENS. BUT BACK AT THE BEL VUE
APARTMENTS, SAMOL UM IS HAPPY TO
CALL THIS PLACE HOME.>>SO I SAY AWESOME, SACRAMENTO. MIKE: YOU’RE LOOKING AT PICTURES
OF WHAT THE BUILDING LOOKED LIKE
BEFORE THE RENOVATION. OF COURSE TODAY IT LOOKS VERY
DIFFERENT. 11 PEOPLE — GULSTAN: I HAVE TO ASK, ARE WE
SEEING ANY CHANGES IN SACRAMENTO
RENTAL RATES YET? MIKE: WE ARE SEEING SOME
CHANGES. AS YOU MIGHT IMAGINE, AREAS ARE
ALL POINTING UP FOR HIGHER
RENTS. THE LATEST NUMBER SHOWS RENTS
ARE ON THE RISE BY 3% TO 5%
ROUGHLY, WHICH TRANSLATES TO
$1400 TO $1500 A MONTH. SO IT IS STEEPER OBVIOUSLY THAN
A LOT OF UNITS HE WOULD FIND
HERE, BUT IT INDICATES HOW MUCH
DEMAND THERE IS FOR AFFORDABLE
HOUSING IN THE CITY AND ACROSS
ALL OF CALIFORNIA.

15 thoughts on “New buildings bring luxury and affordable housing to Sacramento

  1. WTF? Those units are extremely affordable. Build hundreds of buildings like that in Sac and I'll move to downtown midtown Sac. A nice new unit like that will cost $4,000 to $5,000 a month in San Francisco, Oakland, or San Jose.

  2. Sacramento used to be very affordable in the early 2000s. 1bdrm used to be between $550-$600. 2bdrm used to be between $650-700. Now it's like double that plus more.

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