As soon as early 2022, St. Anton Communities could break ground on a new affordable housing project in Rancho Cordova.
Earlier this week, the Rancho Cordova City Council gave the Sacramento-based developer the nod out of five proposals submitted for such projects across the city.
Micah Runner, the city's deputy city manager, said St. Anton's proposed project, 82-unit Sunrise Crossing, benefited from both proximity to transit and the ability to turn quickly, now with a planned $2.62 million boost from the city.
"The next step is bringing forward some specific council support and action, so the project can go after various funding sources," he said.
Sunrise Crossing would be on 2.26 acres at 11295 Folsom Blvd. The site currently has a blighted freight shipping yard with shipping containers and other structures, but St. Anton has a purchase-and-sale agreement with the current owner, according to the group's presentation to the council.
"We are excited about Rancho Cordova’s selection of our Sunrise Crossing community," said Ardie Zahedani, a partner at St. Anton, in an email. "It’s an opportunity to bring a transformational Transit Oriented Workforce Housing community to an underutilized site."
Units at Sunrise Crossing would range from studios to two bedrooms and from about 425 to 885 square feet. Rents would range from those making 30% to 70% of area median income, or from about $420 to $1,318 a month, depending on the unit size and configuration.
Amenities would include a pool, barbecue/sun deck, fitness center, community room and communal kitchen.
Zahedani said St. Anton plans to soon submit plans for formal city review, and start work as soon as early 2022. Project construction costs are estimated at about $13.6 million, while overall costs are about $23 million, including a developer fee.
With Sunrise Crossing, St. Anton has six affordable projects planned or under construction in the Sacramento region over the next two years. They include 227 units across two projects in Folsom, 191 senior apartments in Sacramento's Northlake project, 80 units in Old Town Roseville and 180 units in Rocklin.