Developers have broken ground on a 180-unit affordable housing community for older adults in Rocklin, California.
The Steven is the first major project for College Park, a 108-acre development of apartments, condominiums, and single-family homes surrounded by parks, trails, and open. It is adjacent to the Sierra College campus.
“Sierra College is excited to see College Park move forward from vision to reality,” said Willy Duncan, president of Sierra College. “After years of thoughtful planning and community dialogue, the College Park plan takes a balanced approach to providing housing options, shopping, recreation, and natural conservation— all designed to leverage connections with the Sierra College campus. The Steven will help provide much-needed affordable housing for seniors in our community, showcasing one of the important needs College Park will address.”
The Steven is being developed by USA Properties Fund, a leading affordable housing company, and project partner Riverside Charitable Corp.
The community will be available to residents 55 and older earning 30% to 70% of the area median income for Placer County, about $27,600 for one person at the 30% income level to almost $92,000 for a four-person household at the 70% mark.
Rents will range from about $739 for a one-bedroom apartment to a maximum of $2,070 for a two-bedroom unit, significantly less than nearby market-rate properties. Income limits and rents will likely increase slightly before leasing starts late next year.
Lasting Tribute
The development is also meaningful because it is named after Steven Gall, longtime executive vice president of development and acquisitions for USA Properties Fund and an affordable housing advocate. Gall was instrumental in developing many of the company’s 90 affordable apartment communities in California, Nevada, and Oregon.
Gall, one of the company’s first employees, retired in December 2024. He passed away unexpectedly three months later.
“The Steven is a very appropriate and fitting way to honor Steve,” said Geoff Brown, president of USA Properties Fund and a close friend. “Steve was always a champion for affordable housing and committed to ensuring quality homes for low-income residents. Developing affordable housing was so much more than his career, it was Steve’s passion, and this was one of the last projects that Steve worked on.”
The $39.8 million development is supported by public and private partners, including the city of Rocklin, Sierra College, Cresleigh Homes, Cole Partners Development Co., Merchants Capital, and WNC. The Rocklin City Council unanimously approved a $2.23 million low-interest loan for the project in May.