Full article available (for subscribers) by Ben van der Meer at Sacramento Business Journal
Location was a big factor in HK3 Development’s decision to propose a new project on Elvas Avenue in Sacramento, but an overarching motivation for the company’s projects was an even bigger one.
“This project also attempts to aid our City’s most pressing need: housing,” said Kyle Khasigian, a lead at HK3 on a new proposal of 30 apartments above retail space at 5617 Elvas Ave., in an email. “We desperately need more of it and every added unit will help, not just in East Sacramento but Midtown and Arden and Citrus Heights. Everywhere and often.”
Khasigian, whose firm specializes in urban infill residential projects, said the project at 5617 Elvas is geared toward being the “missing middle” of new housing, aimed at more moderate income levels.