Read the full article by Ben van der Meer at Sacramento Business Journal
Reflecting a new initiative by the Capitol Area Development Authority — and a subtle shift in the housing market in Sacramento’s urban core — three urban infill housing projects will be aimed at workforce housing.
One project, Studio 30 at 500 16th St., is already under construction, while the other two, Grace and Esperanza, are lining up financing, said managing partner John Vignocchi of development firm Urban Capital LLC.
“For us, it’s a finance thing,” he said. “We’re able to get higher returns with lower rents by using this program.”