FOR IMMEDIATE RELEASE 

 

SOUTHERN CALIFORNIA DEVELOPER BRINGS HIGH QUALITY 
AFFORDABLE APARTMENTS TO NORTH SACRAMENTO 

 
September 20, 2007 – Sacramento, California. A new community of 80 affordable apartments 
and townhomes was the site of a ribbon cutting and grand opening with city redevelopment officials 
and representatives of Simpson Housing Solutions at the North Avenue Apartments, 999 North Avenue 
in North Sacramento’s Del Paso Heights Redevelopment Area. 

 

“This is something that we absolutely need in District 2,” 
said City Council Member Sandy Sheedy who represents 
the area. “The commitment to affordable housing and 
quality of this housing that Simpson Housing gives to the 
community is fantastic and I appreciate that very much.” 

 

The development has a combination of two- and 
three-bedroom apartments and two- bedroom 
townhomes affordable to households with incomes 
between 30 and 60 percent of the area median income. 
Rents range from $313 to $755 for a two-bedroom 
apartment and $355 to $865 for three bedrooms. The 
development is 96 percent occupied. 

 

Senior Vice-President Moe Mohanna says Simpson’s development projects start with a promise to build 
quality housing and deliver a community so that residents can enjoy life. 

 

“What we provide is the ability to have this quality of home and not to pay an arm and a leg,” said 
Mohanna. “Not to have a significant portion of your income go out on just rent but to be able to put it 
towards the needs of the family and towards saving.” 

 

Financing for the $17 million project included a $525,000 loan from the Sacramento Housing and 
Redevelopment Agency, including $240,000 in Del Paso Heights tax increment Housing Set-Aside 
funds and $285,000 in City Housing Trust Funds, $100,000 in City fee waivers, 9 percent tax credit 
equity, and loans from Wells Fargo Bank and Washington Mutual. 

 

“We value your partnership and willingness to work with us to make sure we reach a number of 
important community objectives to help low income people have a good place to live where they can 
have hope and a future,” said Anne M. Moore, SHRA executive director. 

 

LINC Housing Corporation provides services for residents including computer training, health and 
wellness seminars, and after-school programs for school-age children. Management also maintains a 
directory of local community resources available to residents. 

 

# # #