By Vanguard Staff
SACRAMENTO, Calif. — A new 124-unit affordable housing development has opened in North Sacramento, bringing apartments affordable to households earning between 25% and 60% of the area median income, including 31 homes reserved for people who have experienced housing instability or homelessness.
Applications are now being accepted for Rivo, a five-story affordable housing community developed by BRIDGE Housing in Sacramento’s Woodlake neighborhood, according to an Aug. 13 announcement from the nonprofit housing developer.
The development comes amid an ongoing affordable housing shortage in Sacramento and across California, where low-income households often face limited options for housing near jobs, schools, public transportation and other essential services.
Rivo offers one-, two- and three-bedroom apartments, with monthly rents ranging from $635 to about $1,900. The apartments are restricted to households earning between 25% and 60% of the area median income.
Of the 124 apartments, 31 — one-quarter of the development — are reserved for residents who have experienced homelessness or housing instability.
Lutheran Social Services will maintain full-time staff at the development to provide support services to residents at no cost.
“Rivo’s contemporary apartments, abundant amenities, and resident services offer much-needed comfort, stability, and support to a wide range of households,” said Ken Lombard, president and CEO of BRIDGE Housing.
“This beautiful community connects residents to each other, as well as to jobs, schools, and services across Sacramento thanks to light rail and bus services that are literally at their doorstep,” Lombard added.
The transit-oriented development is located at 2231 Oxford St., adjacent to Sacramento Regional Transit’s Arden/Del Paso light rail station and a bus transfer hub, providing residents with direct public transportation access to downtown Sacramento and other parts of the region.
Each Rivo household will receive a free Sacramento Regional Transit pass for three years, while new residents will receive free high-speed internet service for five years.
The development is designed as intergenerational housing for families, individuals and seniors, rather than being restricted to a particular age group or household type.
Apartments include fully equipped kitchens, plank flooring and large windows designed to provide natural light.
The pet-friendly development also includes an outdoor courtyard, two community rooms, co-working space, laundry facilities, picnic areas, a children’s play area, a bicycle garage and secured resident parking.
A 2,600-square-foot daycare center on the ground floor is expected to open in the future.
Rivo is also located near Del Paso Boulevard, North Sacramento’s primary commercial corridor, which includes stores and restaurants.
The development borders Woodlake Park, the Sacramento Police and Sheriff’s Memorial and open space on three sides. Arden Fair and River Point Marketplace are also located a short drive from the development.
The project was constructed on the site of a former California National Guard Armory, converting previously state-owned property into affordable housing.
According to BRIDGE Housing, Rivo is among the first state-owned properties made available for affordable housing through a California initiative designed to identify underused public land and prioritize it for housing development.
The city of Sacramento also contributed land to the project.
The use of public land for the development represents one strategy California has pursued to increase affordable housing production by reducing one of the significant costs associated with new construction: acquiring land.
The project was financed through a broad combination of state and local government agencies, housing programs and private financial partners.
Financial partners include the city of Sacramento, Sacramento Housing and Redevelopment Agency, California Department of General Services, California Department of Housing and Community Development, California Climate Investments, Affordable Housing and Sustainable Communities Program and California Municipal Finance Authority.
U.S. Bank, Walker & Dunlop, the California Tax Credit Allocation Committee and California Debt Limit Allocation Committee also participated in financing the project.
BRIDGE Housing describes itself as a nonprofit affordable housing owner, developer and manager operating across California, Oregon and Washington.
Founded in 1983, the organization has participated in the creation of more than 23,000 affordable homes across the three states, representing a total development cost of $6.8 billion.
BRIDGE currently has a $5 billion portfolio consisting of more than 15,700 apartments housing more than 35,000 residents, with another 8,000 units in its development and acquisition pipelines.
The organization currently has 332 apartments in the Sacramento metropolitan area.
With Rivo now accepting applications, the project adds 124 income-restricted apartments to North Sacramento while combining affordable housing with public transportation access and supportive services.
The development also illustrates the potential role of publicly owned land in expanding California’s affordable housing supply, particularly when housing is located near existing transit infrastructure and services.
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Categories: Breaking News Housing Sacramento Region Tags: Affordable Housing BRIDGE Housing Homelessness North Sacramento Sacramento Housing transit-oriented development