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Rebusiness Online “AMCAL Equities Breaks Ground on 750-Bed Student Housing Community Near California State University, Sacramento”

Artist's rendering of apartment buildings and pool


SACRAMENTO, CALIF. — AMCAL Equities LLC has closed financing for and broken ground on The Crossings, a 750-bed student housing community located near the California State University, Sacramento campus.

The $75 million community is being built within the Sacramento Center for Innovation, an area that has been designated by the city to foster the exchange of technical knowledge and expertise between students, faculty, innovative businesses and technology companies. The project will include an 11,000-square-foot Center for Innovation, to be used by students and faculty.

Community amenities will include fully furnished units, a 14,800-square-foot clubhouse with an outdoor basketball court and a resort-style swimming pool. The developers received $22.5 million in funding from Anchor Real Estate Capital, and a $50 million construction loan from JPMorgan Chase.

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Chico ER- Editorial: Let’s hope student housing project starts a trend

The student housing inventory in Chico looks, to be kind, a little dated. Chico certainly hasn’t kept up with the times, whether it’s housing provided by university dormitories or by private apartment complexes.

Most student neighborhoods would look modern and hip in roughly 1970, but right now they look like a bulldozer would be the best remedy.

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San Francisco Chronicle- SF’s newest neighborhood, the Shipyard, is relatively affordable

Pacific Pointe apartments building exterior

By Kathleen Pender October 19, 2016

Robert Knigge was one of the first settlers in the city’s new urban frontier — the San Francisco Shipyard, a relatively affordable housing development going up on the site of the old Hunter’s Point Naval Shipyard.

Knigge, who has lived in the city since 1992, was looking for a place where his 13- year-old daughter, who lives with him part time, “would be able to go outside and walk around, enjoy the area,” he said. “It’s almost like a suburban location but it’s in the city. I bought a golf cart, she drives me around the neighborhood in it.”

The Shipyard is part of a big (by recent standards) condo-building boom in San Francisco. Citywide, there were 1,200 new units available in September, up 83 percent year over year, according to data from The Mark Co. Most of the new projects are single high-rise buildings in established areas, with units priced at $1,200 per square foot and up on average.

The Shipyard, by comparison, is a collection of mid-rise, low-density buildings (all named for ships) with townhomes and condominiums averaging $800 per square foot, according to developer Lennar. Many have spectacular views of downtown San Francisco and the bay, although those go for more than $800 per square foot.

All units come with one or two parking spots, which is good because there are no shops, restaurants or supermarkets within walking distance. The only public transit is the 19 Muni, although Lennar runs a free shuttle to Caltrain and T- Third Street light rail stations and downtown.

The development one day will cover 500 acres jutting into the bay on the city’s southeastern waterfront, with 220 acres of parks, open space and athletic fields. “We have entitlements for up to 6,500 homes,” said Sean Sullivan, Lennar’s sales director.

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