The Rivermark Opens in West Sacramento's Bridge District
WEST SACRAMENTO, CA, June 10, 2015—The City of West Sacramento and BRIDGE Housing will celebrate the grand opening of The Rivermark at a ribbon-cutting ceremony today at 10 am. The event takes place at 959 Bridge Street.
Situated in the 188-acre Bridge District smart growth area along the Sacramento River, this new property offers 70 affordable apartments for families. The apartments are affordable to residents with annual incomes ranging from approximately $16,800 to $36,100 for a four-person household (35-50% of Area Median Income). Monthly rents range from approximately $432 to $893 depending on factors such as income, household and apartment size.
“Housing affordability is often an afterthought in too many communities, but not here. The Rivermark is the anchor of The Bridge District, launched at the very beginning to assure economic diversity. With 70-units of affordable housing for families, The Rivermark is a well-connected, walkable neighborhood on the riverfront, close to Raley Field with connections to urban neighborhoods and job centers on both sides of the river,” said Mayor Christopher Cabaldon. “The City of West Sacramento is excited to welcome The Rivermark to the Bridge District.”
“We are proud to be part of the City’s bold vision for this new district,” said BRIDGE Housing President and CEO Cynthia A. Parker. “The ballpark, transit connections and easy access to the urban core and the river make this a very desirable place to live, and we’re pleased that it is designed to serve people across a range of income levels.”
The Rivermark’s design aesthetic is modern, with an array of quasi-industrial finishes from board-formed concrete to a number of large-scale Cortens panels. Residents have access to an indoor community room and classroom space located on the ground floor of the building—designed with large windows that activate the corridor along Fifth Street. Residents can enjoy landscaped outdoor space along Fifth Street and a peaceful community courtyard including a children’s rock climbing wall. The development will be GreenPoint Rated and includes a number of efficient building systems and components. The property is located three blocks from Raley Field (home to the Sacramento River Cats baseball team), a block from the River Walk Trail and is within walking distance of the Yolobus stop, which provides transit within West Sacramento and across the river to downtown Sacramento.
The Rivermark is part of a $150 million commitment to residential development in the Bridge District by the City of West Sacramento and project partners. New roads, ramp improvements, sewer, water, and riverfront park amenities, totaling $50 million, have already been completed. Funding support for the infrastructure and parks was initiated by $23.1 million of voter approved Proposition 1C bond funds, allocated by the state’s Department of Housing and Community Development. The District will eventually feature five to seven million square feet of commercial office, hotel, retail and 4,500 residences.
Financing for The Rivermark was provided by the City of West Sacramento, Chase, Raymond James, California Department of Housing and Community Development, the California Community Reinvestment Corporation, and Smart Growth Investors II, LLC. Rivermark was designed by David Baker Architects and constructed by general contractor Sunseri Associates, Inc.
Expected speakers for the ribbon-cutting include Christopher L. Cabaldon, Mayor of West Sacramento; Susan Riggs, California Department of Housing and Community Development; Jeree Glasser-Hedrick, California Debt Limit Allocation Committee; Paul Carney, Chase; Stephen Jaycox, Fulcrum; Ann Silverberg and Ali Gaylord, BRIDGE Housing.
For more information about BRIDGE Housing, visit www.bridgehousing.com.