17th Street Commons
This rehabilitation was completed by July 2001 and is located on the west side of 17th Street between O and P Streets. It was originally developed in 1983 as a limited equity cooperative with 25 residential units and commercial space housed in a 1914 historic structure. In late 1999, CADA acquired the improvements and now manages the development as apartments. Upon acquisition, CADA refurbished the development and converted the commercial space into four additional residential units.
CADA acquired 17th Street Commons from the Seventeenth Street Commons Cooperative (SSC) in December 1999 as a result of SSC no longer being able to own and manage the complex. CADA rehabilitated the complex and converted an existing historic structure from office to residential use. The proposed scope of work also involved replacement of glue laminated beams in the parking garage and replacement of decking.
This site features a tree-lined walkway crossing through the development connecting all the units. There is a mix of pitched steep and low slope roofs with stucco and wood shingle siding. Ground level patios at the townhouse units have brick and wooden decks and all the buildings now have aluminum-framed, double-glazed, sliding windows. Many of the units offer French doors as well as fireplaces.
The complex includes 29 units of which 6 are available at rents of $565 to $737 which are affordable to households earning 50% or less of median income and 6 which are available at rents of $729 to $902 which are affordable to households earning 60% or less of median income. The remaining 17 units are at market rents ranging from $800 to $1,400.
Unit Count: 25 existing units: 4 – 1 BR/BA (606 S.F.)
4 – 1 BR/BA w/ loft (880 SF)
6 – 1 BR/BA w/ den (913 SF)
9 – 2 BR/BA (920 SF)
6 – 3 BR/BA (1,100 SF)
4 New Units in previous commercial space
Total Units: 29
Total Building Area: 16,346 SF
Acres: 1.08 Acres
Dwelling Units per Acre: 26 DUA
Parking: 5 Covered spaces and 10 uncovered spaces
Estimated Development Costs: $1,419,000 (Purchase and Rehabilitation Costs)
Sources of Financing:
$1,419,000 California Housing Finance Agency (CHFA) (permanent loan)
$445,000 Sacramento Housing and Redevelopment Agency (SHRA) (permanent loan in 2nd position)
$446,180 (construction loan)