DEVELOPER SEES SUCCESS WITH NEW HOME SALES IN NORTH SACRAMENTO WHERE CITY AND REDEVELOPMENT AGENCY CONTINUE LONG TERM EFFORT TO BUILD AFFORDABLE HOMEOWNERSHIP COMMUNITY
Sacramento, CA – (RealEstateRama) — Under a public-nonprofit partnership with the City of Sacramento and the Sacramento Housing and Redevelopment Agency, developer Pacific Housing, Inc. will reach its goal of selling all 10 new homes in the first building phase of the Heritage at Del Paso Nuevo development in North Sacramento. A grand opening celebration is planned for Wednesday, April 13 at 10 a.m., at 640 Ford Road.
“This is an exciting milestone for the Del Paso Nuevo community,” said Councilmember Allen Warren, District 2. “I commend Pacific Housing for its vision and commitment to provide homeownership opportunities that are key to continuing our efforts to successfully revitalize this neighborhood.”
“We are very proud of our new neighborhood and excited to bring these homes to the market,” said Pacific Housing, Inc. President Mark Wiese. Del Paso Heights is a close-knit community rich in heritage and tradition. We are elated with how we have been welcomed into this community and we plan to be here for a long time”
Heritage at Del Paso Nuevo is Phase 5 development project that spans nearly two decades when the City and SHRA received a Homeownership Zone Designation from the U. S. Department of Housing and Urban Development (HUD). The designation provided an award of $10.5 million in federal grants and loans for the development of a new 154-acre master planned homeownership community in the Del Paso Heights area with a goal to build 300 homes in six phases. At least 51% of the homes in the new Del Paso Nuevo development must be sold at affordable prices to families that earn no more than 80% of the area median income. A total of 147 homes have been built in the first four DPN phases. Heritage at Del Paso Nuevo is a $20 million project assisted with $2.9 million from SHRA.
“SHRA has been working with the Del Paso Heights and Strawberry Manor residents since the 1970’s when the community was adopted as a redevelopment project area,” said SHRA Executive Director La Shelle Dozier. “The elimination of redevelopment has not stopped our success in fulfilling our commitment to improve the housing stock, provide community facilities such as parks for the neighborhood, and assist with infrastructure improvements to facilitate development.”
The Heritage at Del Paso Nuevo development is anticipated to include 91 homes at full build out. The next phase of construction will include 15 homes and is expected to begin in late May or early June. All of the homes in the first and second phases are sold and/or reserved out at this time and over 30 families are currently going through loan pre-qualifications at this time in anticipation of additional releases.
About Heritage at Del Paso Nuevo
Heritage at Del Paso Nuevo (www.heritagedelpaso.com) is a partnership of the Sacramento Housing and Redevelopment Agency, Pacific Housing, and the Mutual Assistance Network that offers the dream of homeownership to more families with special financing programs that provide down payment and closing cost assistance to first-time, low and moderate income homebuyers. Homes at Heritage range from about 1571 to 2178 sq. ft. with 3, 4 and 5 bedroom plans available. Prices start in the lower $200,000 range.
SHRA (www.shra.org) is a Joint Powers Authority created by the City and County of Sacramento to represent both jurisdictions for affordable housing and community redevelopment needs. SHRA has a FY 2016 budget of $179.6 million and 225 employees. The Agency owns and manages approximately 3,200 units of public housing and is one of the largest landlords in Sacramento. SHRA also administers approximately 12,000 rent assistance vouchers per month.
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Angela Jones
Public Information Officer, SHRA
801 12th Street
Sacramento, CA 95814
(916) 440-1355 direct
(916) 492-2557 fax
ajones (at) shra (dot) org
