Boston Capital is investing in the construction of Bidwell Pointe, a 140-unit multifamily, mixed-use development for families in Folsom, Calif.
Being developed by St. Anton Communities, the property will feature 100 affordable units and 40 market-rate units, seven of which are townhouse-style units that are flex live/work spaces to cater to those who wish to conduct business from home.
Bidwell Pointe is receiving nearly $9 million in low-income housing tax credit equity from Boston Capital, which has invested in more than 15,000 affordable apartments in California.
"We are excited to team up with St. Anton Communities, bringing high-quality affordable housing with great amenities to families and individuals in Folsom, an area with a solid job market and growing economy," said Jack Manning, president and CEO of Boston Capital. "Strong school systems, a competitive amenity package, and abundant retail options nearby make this an especially favorable place for families to call home."
The affordable units will be available to families and individuals earning 60% or less of the area median income.
Units will feature an open-concept living room/kitchen area, central air, energy-efficient appliances, including dishwashers, granite countertops, washer/dryer hookups, and covered patios/balconies.
Development amenities will include a 2,800-square-foot clubhouse with a business center, a community room with a kitchen, and management offices. Additional amenities include a barbecue area and sundeck, bike racks, a central laundry, and a playground.
