{"id":2018,"date":"2026-05-14T21:33:00","date_gmt":"2026-05-14T21:33:00","guid":{"rendered":"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/05\/14\/rocklin-city-council-approves-2-23-million-loan-to-build-affordable-apartment-project\/"},"modified":"2026-05-14T21:33:00","modified_gmt":"2026-05-14T21:33:00","slug":"rocklin-city-council-approves-2-23-million-loan-to-build-affordable-apartment-project","status":"publish","type":"post","link":"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/05\/14\/rocklin-city-council-approves-2-23-million-loan-to-build-affordable-apartment-project\/","title":{"rendered":"Rocklin City Council approves $2.23 million loan to build affordable apartment project"},"content":{"rendered":"<article><!-- --><!-- --><!-- WPS-5038 -- removed the script from WPS and added the placeholder for trinity player --><!-- --><!-- --><!-- --><!-- --><!-- --><!-- --><!-- --><!-- CONTENT --><!--[--><!--[--><\/p>\n<p>The Rocklin City Council approved a $2.23 million loan Tuesday to help finance construction of The Steven, a 180-unit affordable apartment complex for seniors near Sierra College.<\/p>\n<p>Read more <a href=\"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/05\/14\/rocklin-set-to-celebrate-national-public-works-week-with-free-family-fun-event\/\">Rocklin set to celebrate National Public Works Week with free family fun event<\/a><\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>The project will be built on Rocklin Road between El Don Drive and Sierra College Boulevard.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>The Steven will include 178 one- and two-bedroom apartments on 7.3 acres, along with two manager units. Monthly rents are expected to range from about $650 to $1,850. The apartments will be reserved for residents 55 and older who earn between 30% and 70% of area median income.<\/p>\n<p><!--]--><!--[--><\/p>\n<p>The City Council approved the project\u2019s design in December 2022. Roseville-based USA Properties Fund is the developer.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<div>\n<p><strong>\u00bb\u00a0Roseville news in your inbox: <\/strong>Get our free Roseville email newsletter <span>here<\/span><\/p>\n<\/div>\n<p><!--]--><!--[--><\/p>\n<p>Planned amenities include a swimming pool, fitness room, dog park, clubhouse and two landscaped courtyards with walking paths. Residents also will have access to support services through the J.B. Brown Fund and LifeSteps, a nonprofit that helps seniors find housing-related services.<\/p>\n<p>Read more <a href=\"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/05\/14\/sacramento-kings-starter-undergoes-surgery-will-he-be-healthy-next-season\/\">Sacramento Kings starter undergoes surgery. Will he be healthy next season?<\/a><\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>The Steven will be part of College Park, a 108-acre mixed-use development near Sierra College. The project includes apartments, condominiums, triplexes, single-family homes, parks, trails and open space. College Park is a partnership between Sierra College, Evergreen Sierra East LLC and Cresleigh Homes.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>The city loan will come from Rocklin\u2019s Low and Moderate Income Housing Asset Fund and is included in the city\u2019s 2025-26 fiscal year budget.<\/p>\n<p><!--]--><!--[--><\/p>\n<p>According to a city staff report, the loan carries a 3% interest rate and will be repaid from residual project income after operating expenses and other debt obligations are paid.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>The city will disburse the loan in four installments during construction. The final payment will be made after construction is complete and the project receives final occupancy approval.<\/p>\n<p>Read more <a href=\"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/05\/14\/will-charges-be-filed-for-sacramento-sheriffs-detective-accused-of-dui\/\">Will charges be filed for Sacramento sheriff\u2019s detective accused of DUI?<\/a><\/p>\n<p><!-- --><!--]--><!--]--><!-- --><!-- --><!-- --><!-- --><\/article>\n","protected":false},"excerpt":{"rendered":"<p>Rocklin City Council approved a $2.23M loan to build The Steven, a 180-unit affordable senior apartment complex near Sierra College with amenities and support services.<\/p>\n","protected":false},"author":1,"featured_media":666,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-2018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-roseville-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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