A new 288-unit development is bringing affordable housing options to the Northern California community of Rocklin.
Developed by USA Properties Fund, Terracina at Whitney Ranch features apartments reserved for residents earning 30% to 70% of the area median income.
“Providing multiple types of housing is critical to a thriving community,” said Rocklin mayor Jill Gayaldo. “Terracina at Whitney Ranch will enable our young adults to stay in the community where they were raised and allows folks, such as new teachers or police officers, to live in the community where they work.”
USA Properties Fund has about 35 apartment communities in the Sacramento region, but Terracina at Whitney Ranch is the first in Rocklin—about 8 miles from the company’s headquarters in Roseville.
The firm had eyed developing a market-rate community on the 11-acre parcel before changing its plans to affordable housing.The new development is close to several major shopping malls and key health care providers.
“It’s an excellent neighborhood that meets the needs of so many residents, from young professionals just starting their careers to retirees living on a fixed income,” said Geoff Brown, president of USA Properties Fund. “Terracina at Whitney Ranch checks the boxes in many ways, from highly rated public schools to nearby shopping and restaurants, while meeting the critical need for more affordable housing in the community.”
Amenities include a 4,000-square-foot clubhouse with a community room, a fitness room, a swimming pool, a courtyard with seating, a tot-lot play area, a dog park that overlooks a nature preserve, and EV charging stations. The apartment community also includes an outdoor fitness area with workout equipment, one of the latest trends in the rental market.
USA Properties Fund developed the $104 million apartment community without local or state subsidies, relying on low-income housing tax credits. Bank of America is the construction lender and tax credit investor on the project. Citi Community Capital is the permanent lender.
