West Sacramento-based Community Business Bank is helping finance a $10.3 million renovation of the 68-unit Olivewood Apartments affordable-housing complex in Sacramento.
Renovation at 2805 La Quinta Drive – near the intersection of Watt Avenue and Highway 50 – is expected to be completed in December.
Renovations to the nearly 50-year-old complex include new siding, a modern facade, dual-pane windows, bathroom and kitchen upgrades and new flooring. A 1,750-square-foot community center and swimming pool also are part of the project.
The project is a joint venture among Pacific Development Group of Lodi and Alliance Property Group of Los Angeles, owners of Olivewood, and general contractor RDR Builders of Lodi.