Centrally Located Affordable Housing in Sacramento
Walkable low-income housing near Hwy 50, shopping, transit
Asbury Place is a renovated affordable housing community nestled in beautiful landscaping in Sacramento, CA. Asbury Place’s prime location in the Arden Manor neighborhood in Arden-Arcade offers an array of shopping, restaurants and other convenient services right at your doorstep. Arden Mall, Country Club Plaza, banks, grocery stores and high quality schools are well within walking distance. Asbury Place is minutes from the Pavilions, Howe Park and the American River Parkway.
Easy access to Highway 50, the Capital City Freeway and public transportation make traveling and commuting simple. Asbury Place also offers amenities such as covered parking, a learning center, laundry facilities, a playground, swimming pool and barbecues. Some apartments are pet-friendly. Nearby parks include Deterding Park, Crabtree Park and Jonas Larkspur Park.
Jamboree partnered with Capital Valley Investments, a market-rate real estate company, to co-develop the property. This partnership, as well as Jamboree’s collaboration with investors and local government, results in a secure, nicely landscaped, well-designed community where residents can flourish. Jamboree’s commitment to long-term affordability of the property creates a healthy living environment for Asbury Place residents and the local neighborhood.
Joint Venture Preservation of Low-Income Housing
Acq/rehab of quality affordable housing, Sacramento, CA
Asbury Place is an acquisition/rehabilitation of an existing apartment community in Sacramento, CA. This joint venture with Capital Valley Investments – a market-rate real estate company with a stellar reputation and 30 years experience in California – resulted in the successful extensive renovation of a 1960s property that suffered from tremendous deferred maintenance and substandard housing conditions.
Cited by the Sacramento Housing and Redevelopment Agency as some of the worst property conditions ever seen, the main goal of the renovation was to return the apartment units to the rental market at affordable rent levels and elevate the quality of the community for existing residents. A total of 72 units were vacant and uninhabitable due to water intrusion and damage to the apartments at the time of acquisition.
Extensive rehabilitation efforts included total replacement of the roofs, windows and siding. All unit interiors were renovated – including new kitchens and baths, the conversion of wall heating/AC to central HVAC, and the installation of washer/driers in all two-bedroom units.
Asbury Place now features a brand new community center with a computer lab for onsite programs provided by Jamboree’s Community Impact Group, a tot lot, swimming pool, and landscape enhancements. This transit-oriented community is located minutes from downtown Sacramento in the Arden Manor neighborhood in Arden-Arcade, with nearby shopping, restaurants, schools, parks and public transportation.