Sacramento Celebrates Major Renewal of Housing for Low-Income Seniors
SACRAMENTO, CA, May 5, 2016---Sacramento Housing and Redevelopment Agency and BRIDGE Housing held a ribbon-cutting ceremony today to mark the completion of major renovations of two housing communities that serve seniors with low incomes: Sutterview Apartments at 2526 L Street (76 units) and Sierra Vista Apartments at 2300 K Street (77 units).
Both properties, which were originally placed into service in 1971, have been fully renewed. The substantial rehab included retrofitting of the buildings' exteriors, replacement of nearly all major systems and greening of the projects including solar energy systems. Additionally, Sierra Vista enlarged its community space and Sutterview created a completely new community room including a new rooftop terrace. These areas will provide space for supportive programs including service coordinator meetings and life skills training.
The rehabilitation was a joint effort between the Sacramento Housing Authority Repositioning Program, Inc. (SHARP) and BRIDGE, a nationally recognized nonprofit developer, owner and manager of affordable housing. Previously, BRIDGE and SHARP partnered on the successful renovation of Washington Plaza, which was completed in 2014.
“These projects are a great example of the enormous benefit that public and nonprofit partnerships provide when it comes to leveraging resources so that we can continue to serve low income seniors with quality affordable housing,” said SHRA Executive Director La Shelle Dozier.
“Preservation is critical to maintaining Sacramento’s existing housing stock for vulnerable, low-income seniors, so that they can live in their homes, independently, for as long as possible,” said Cynthia A. Parker, President & CEO of BRIDGE Housing.
Over all, the work represents a $22.1 million reinvestment in Sutterview and $23.4 million in Sierra Vista. Financial partners for both developments included the Sacramento Housing and Redevelopment Agency, the Housing Authority of the City of Sacramento, US Bank, the California Tax Credit Allocation Committee and the California Debt Limit Allocation Committee. JP Morgan Chase, Enterprise Community Investment and Greystone were financial partners for Sutterview. And Merritt Community Capital Corporation and Bank of America Merrill Lynch were financial partners for Sierra Vista.
For both properties, the rehabilitation architect was Ferrari Moe and the general contractor was Deacon Corp.
Ribbon-cutting speakers included Sacramento City Councilmember Steve Hansen, District 4; La Shelle Dozier, Sacramento Housing and Redevelopment Agency; Kathy Caisley, Bank of America Merrill Lynch; Shara Coletta, Chase; Barney Deasy, Merritt Community Capital Corporation; Christopher Walvoord, Enterprise Community Investment; Stephanie Semenza, Greystone; and Ann Silverberg and Ali Gaylord, BRIDGE Housing.
For more information about BRIDGE, visit www.bridgehousing.com.
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Event photo album: http://bit.ly/1VNaRfy