Affordable Rental Housing Financing

A variety of multifamily rental complexes designed to serve low income residents have been built in the City of Elk Grove. The federal government offers developers tax incentives to build rental units affordable to low income people. A number of complexes built since Elk Grove became a city in 2000 have been partially funded by the Affordable Housing Fund fee program. The table below summarizes the amount of subsidy each multifamily complex received to provide affordable housing units to Elk Grove residents.

Note: Some of the projects have modified units with handicapped accessibility.
Year Project Name Unit # Affordable Financial Assistance Subsidy Per Affordable Unit
2002 Terracina Park Meadows 116 $1,996,476 $17,211
2003 Agave 187 $2,845,356 $15,216
2003 Geneva Point 150 $2,400,493 $15,793
2003 Vintage at Laguna 157 $2,036,572 $12,972
2005 The Crossing at Elk Grove 115 $8,959,930 $77,912
2005 Stoneridge 95 $8,054,620 $84,785
2006 Waterman Square 83 $7,460,000 $89,880
2007 Montego Falls 131 $4,150,000 $31,679
2007 Seasons 221 $9,100,000 $41,176
2011 Ridge Apartments 202 $9,652,217 $47,783
2011 Vintage at Laguna II 68 $5,159,937 $82,352
2013 Avery Gardens 63 $2,000,000 $31,746
2017 Bow Street 97 $5,000,000 $51,546
2019 Gardens at Quail Run 95 $5,000,000 $52,631

TOTAL 1,780 $73,815,601

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