Construction has begun on a 284-unit affordable housing community in Roseville, California.
USA Properties Fund’s Terracina at Westpark will provide one- to three-bedroom apartments for early-in-their-career professionals, working families, and retirees earning 30% to 70% of the area median income.
“West Roseville is an excellent neighborhood, offering first-rate schools, a network of walking trails, and some of the best parks in the region,” said Geoff Brown, president of USA Properties Fund. “We’re happy to help fill the critical need for more affordable, quality housing in our community.”
Roseville-based USA Properties has 33 apartment communities in the Sacramento region, but Terracina at Westpark will be only the second in its hometown. Vintage Square at Westpark, an affordable apartment community for 55-and-older residents, is less than 2 miles away.
Roseville, recently listed as the 20th fastest-growing city in the United States by SmartAsset, has earned dozens of “best” accolades in recent years, from one of the best cities to live in California to a top-rated place to raise a family.
Terracina at Westpark is near a large neighborhood shopping center with a grocery store, highly rated public schools, and dozens of neighborhood parks. Several major shopping centers—including the Westfield Galleria at Roseville, the largest mall in the Sacramento region—and numerous health providers, including Kaiser Permanente and Sutter Health, are just a few miles away.
WNC is the low-income housing tax credit investor for the $119.2 million development. JPMorgan Chase is the construction and permanent lender on the project.
Terracina at Westpark is part of the Creekview master plan that includes housing, commercial development, a school, and neighborhood parks.
