ELK GROVE, Calif. — Come August 2025, a new affordable housing complex will be ready for residents in Elk Grove.
The Pardes, as it's called, will be a 236-unit affordable apartment project. The developer, CRP Affordable Housing and Community Development, said the project is designed to serve a wide range of incomes and provide more housing options for people who work in the area.
"It really puts an emphasis on building affordable housing in areas that should provide better future outcomes for residents and their children, so that's a really big focus of our firm," said Seth Sterneck, managing director at CRP Affordable Housing and Community Development.
Tenants must qualify for units based on their income. The one, two and three bedroom apartments are available for people who make 30% to 80% of the area median income.
"Just looking at the two-bedroom units as an example, those at a 30% area median income (AMI), the monthly rent there would be $723 dollars a month. At 60% AMI, it's about $1,450, and at about 80% AMI, it's just above $1,900 dollars a month," said Sterneck.
He also said that rent includes utility allowances.
The development will have sustainability features including solar panels and energy efficient appliances.
"This project is designed to have a very significant amount of solar offset, so the tenant paid portion of utilities should be fairly low," said Sterneck.
The new homes are set to include child care services, job assistance and adult/continuing education.
The developer said the project will take about 18 months to build. They will start accepting applications a couple months before completion, which is set for August 2025.
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