A hub for Folsom’s office space is adding new development — but not office space.

Instead, Cole Partners and The Grupe Co. of Stockton have a proposed a 253-unit project called Folsom Corporate Center Apartments across two different sites in Folsom Corporate Center.

Cole Partners did not return an email seeking more information, while The Grupe Co. didn’t immediately return a message Monday. According to the application for the project, apartments make more sense these days than another office building in that area north of Highway 50.
“In fact it has been more than 12 years since the principals at Cole Partners last delivered new office buildings to FCC when both Waste Connections (now SAFE Credit Union) and Numonyx (now Micron) joined the already strong lineup of companies at FCC,” the application states. “For those familiar with our region’s office market, it is not surprising that those two buildings were the two last privately developed larger suburban office buildings completed not only in Folsom, but along the Highway 50 corridor.”

Folsom Corporate Center Apartments would be split between a 7.18-acre site south of an existing Kaiser Permanente building on Rowberry Drive, and a smaller parcel on Iron Point Road north of the SAFE Credit Union headquarters. A hundred apartments would be on the smaller property, and 153 on the larger one.

Apartments on both sites would be in three-story buildings, with a three-story, 6,700-square-foot clubhouse on the site with more apartments and a 3,100-square-foot, single-story clubhouse on the other. Both clubhouses would have pools and other amenities.

A dog park, outlook point and bike storage, including some bikes for communal use, are among the other amenities. There would be 484 parking spots across the two sites.

Units would range from studios to three-bedroom apartments and from 564 to 1,412 square feet. The application doesn’t indicate any plans for income restrictions, suggesting the units will be rented at market rates.

BSB Design is the project architect.

The application requests a general plan change and rezoning in addition to design review.

Real estate data service Reonomy shows FCC 50 LLC, with the same address in Natomas as Cole Partners, bought the project sites in February 2021 for $1.81 million.