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March 29, 2005
Wow, new, affordable housing in the heart of Rancho Biz District?
Yee Haw! Affordable housing, right where it's needed? 9.5 units per acre (can you say RD-10)And the city fast tracked it? The Sacramento Biz Journal article quoted below is about the Capital Center development called Capital Villages (see earlier Bee Article or Grapevine article for more details, or city's docs)
Check this out.....
The project, approved by the City Council on Monday, is classic smart-growth infill. Designed by Jeff Demure & Associates, it plans 827 homes on 87 acres, or 9.5 per acre -- roughly double the local norm.
The rest of the land was approved for office and retail, including a "lifestyle center" that blends with the community and creates a place to hang out as much as shop.
The main street is bordered by 40-foot strips that include 10-foot sidewalks set back 8 feet from the street and 15 feet from the property lines, Van Maren said.
O'Neill estimated that the average price would be about $350,000 per home, about 25 percent below the current regional average of $472,000. House prices should start in the mid-200,000s, with a few large-lot units selling above $400,000, he said.
The housing will include townhomes, live-work units and detached homes.
I dunno........They can't be that reasonable. They'll sell 50 units, then jack the price up, unless...the market slows (which I pray for).
Read on....
Rancho OKs big project in one-third the usual time
EXCLUSIVE REPORTS - Sacramento Business Journal
From the March 25, 2005 print edition
Mike McCarthy Staff Writer
Pages 1 - 3
http://sacramento.bizjournals.com/sacramento/stories/2005/03/28/story8.html
Posted by cystdog at March 29, 2005 08:09 AM
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