284-apartment community ‘helps families put down roots’ in fast-growing neighborhood while providing greatly needed workforce housing
USA Properties Fund has completed and started leasing Terracina at Winding Creek, an affordable apartment community near highly rated public schools, new shopping centers and recreation areas – and brings much-needed workforce housing to west Roseville.
The apartment community – located at two sites, 3440 Westbrook Blvd. and 1040 Lower Bank Drive about a half mile away – offers affordable housing for lower-income residents in one of the fastest-growing cities in California, where rent increases have easily outpaced pay raises in recent years.
“West Roseville has evolved into a vibrant, family-friendly community,” said Geoff Brown, President of USA Properties Fund. “Terracina at Winding Creek offers affordable, quality housing and provides lower-income residents the opportunity to enjoy everything that Roseville has to offer, from top-notch schools to dozens of parks and lots of recreation opportunities.”
The 284-apartment community, part of Anthem Properties’ Winding Creek Master Plan, helps address the critical shortage of affordable housing in south Placer County, where thousands more apartments are needed for low-income residents, according to the California Housing Partnership.
Many lower-income renters – from early-in-their career professionals to those with service-industry jobs – cannot find affordable housing in Roseville, forcing them to commute to work from outside the region or live in market-rate apartment communities and pay much higher rent, creating an ongoing financial hardship. More than half of renters spend at least 30% of their pay on housing in Placer County, according to Harvard University’s Joint Center for Housing Studies.
Terracina at Winding Creek
Terracina at Winding Creek, which has about 60 apartments available for lease, will help.
“Roseville is committed to expanding access to quality, attainable housing through thoughtful planning and strong community partnerships,” said Roseville Mayor Krista Bernasconi. “The opening of Terracina at Winding Creek represents meaningful progress of bringing nearly 300 new homes online and helping meet the diverse housing needs of our growing community.”
‘The foundation to pursue their goals, build stability and thrive’
The City of Roseville along with J.P. Morgan, Anthem Properties and tax-credit investor WNC Inc. are partners on the $119.2 million development with USA Properties Fund.
“Our affordable housing investment work is rooted in the idea that strong communities create opportunity, and this development gives residents the foundation to pursue their goals, build stability and thrive,” said James Vossoughi, Executive Director for J.P. Morgan Community Development Banking. The financial-services company is the construction and permanent lender on the project. “By offering quality homes near jobs, schools, and amenities, Terracina at Winding Creek helps families put down roots and strengthens the Placer County community for generations.”
Terracina at Winding Creek is near several major shopping centers – including a new Costco warehouse and a short drive from the Westfield Galleria, the largest mall in the Sacramento region – and numerous health providers such as Kaiser Permanente and Sutter Health.
Those companies, along with many others, are the reason the county has enjoyed impressive job growth in recent years, with another 70,000 positions expected by 2050. But companies continue to have a difficult time finding – and keeping – employees, often because of the cost and lack of housing.
Terracina at Winding Creek will allow more lower-income residents to live closer to where they work and shows a “commitment to creating high-quality, family-focused communities,” said Jessica Captanis, Vice President of Originations West for WNC. “This grand opening marks an exciting step forward in expanding access to thoughtfully designed housing where families can truly thrive.”
Terracina at Winding Creek also helps residents worry less about rent and focus more on their future, from cutting credit-card debt and saving money to maybe even enrolling in college classes.
“Affordable housing has a life-changing impact on residents,” said Brown of USA Properties. “It brings people together and builds stronger, more stable communities.”
An affordable and amenities-rich community
Terracina at Winding Creek is available to households that earn 30% to 70% of the median income for Placer County – about $27,000 for a single person to more than $100,000 for a six-member family.
Rents start at $670 for a one-bedroom apartment for residents who earn 30% of the median income to $2,265 for a three-bedroom unit for households in the 70% range, significantly less than nearby market-rate apartment communities in the region.
Almost 90% of the apartments are two- or three-bedroom units, further helping with the shortage of affordable housing in south Placer County.
Terracina at Winding Creek is affordable but also offers a long list of amenities, many often only found at market-rate properties. The apartment community includes a clubhouse, a courtyard area for barbecues and picnics, a fitness center, a pet area, playground, and laundry facilities. The apartment community – about a half-hour drive from downtown Sacramento — has about 450 parking spaces and includes EV-charging stations.
Apartments feature energy-efficient appliances, vinyl-plank flooring and carpet, a patio or balcony, and free wi-fi – saving residents hundreds of dollars per year. Terracina at Winding Creek also offers a range of social services, from budgeting and financial planning to health-related talks, through longtime partner LifeSTEPS.
Roseville-based USA Properties – one of the nation’s fastest-growing affordable apartment developer-manager-owners in the West – has almost 40 apartment communities in the Sacramento region. But Terracina at Winding Creek is only the second in its hometown. Vintage Square at Westpark, an affordable apartment community for 55-and-older residents, is less than 2 miles away.
“We’re always looking at new opportunities in our community and throughout the West,” said Brown, who oversees a 90-apartment portfolio in California, Nevada and Oregon. “Terracina at Winding Creek checked many of the boxes we need for a successful development, while also meeting the housing needs of our neighbors.”