Developer: Resources for Community Development
Housing Trust Loan: $1,650,000 Acquisition Loan
Units: 73 Affordable Homes
Population Served: Families and Individuals
Congratulations to our partner, Resources for Community Development (RCD), on closing acquisition financing for Power Inn – their first project in all of Sacramento County – located near Elk Grove! Housing Trust supported the project with a $1.65 million acquisition loan for the future 73-unit, 100 percent affordable housing community serving families and individuals earning up to 60% AMI in the greater Capital region. Responsive to our partner’s timing needs, the transaction closed in two phases.
Power Inn demonstrates a thoughtful and strategic approach to site planning and land use. The development team originally planned the project on a single parcel, then secured an adjacent vacant parcel that had little utility on its own. By combining the two parcels through a lot line adjustment, the project team maximized the site’s potential and improved overall functionality.
The project site is located in a State-designated High Resource Area and a federally designated Difficult Development Area, designations that often limit affordable housing development due to higher costs. The surrounding neighborhood offers access to nearby middle and high schools, grocery stores, retail shopping, and public transportation, supporting daily needs and connectivity for residents. Support from the local board supervisor and the Sacramento Housing and Redevelopment Agency played a key role in advancing the project.
Since 2015, Housing Trust has partnered with RCD on 10 projects, investing over $43 million to help create more than 800 affordable homes throughout the greater Bay Area.