Hello R Street Friends,
Today was a big day for R Street! CADA is excited to announce that earlier today the Capitol Lofts project (CADA Warehouse), located at 11th and R Streets, was award $18 Million in low-income housing tax credits. The federal tax credits will allow the Capitol Lofts to move forward and start construction within the next seven months. Yes, you read that correctly. The Capitol Lofts project is finally going to happen!
Next spring, CADA’s development partners, CFY Development and Holliday Development, will be begin constructing 116 mixed-income housing units and 13,000 square feet of commercial retail space. The construction will be completed in the spring of 2015. When finished, you will see a mixed-use, transited-oriented, brownfield, historic adaptive rehab, and infill development project that will continue the transformation of R Street’s Historic District that began with the streetscape project completed earlier this year.
CADA, CFY Development and Holliday Development, could not be happier to be in this position after so many years. We want to thank all of you that have supported and championed this project over the years. As many of you know, the journey to get to this point has been full of bumps and twists, but now we can finally see the end. We are very happy to share this news with you and hope you are too.
See you at the groundbreaking next year!
Cheers,
Todd Leon
R Street Development Manager
Capitol Area Development Authority (CADA)
1522 14th Street
Sacramento, CA 95814
PH: 916-323-1272
Cell: 916-508-4272
Email: tleon@cadanet.org
FB: www.facebook.com/RStreetCorridor
Twitter: www.twitter.com/RStreetSactown
LinkedIn: www.linkedin.com/in/toddleon