555 new apartments planned for South Natomas as Sacramento sells land to developer
A developer plans to build 555 apartments at a vacant lot in South Natomas.
The Sacramento City Council last week approved an item to sell 22 acres of surplus property to Anton Development for $6.4 million. The site is at 3625 Fong Ranch Road, just north of Natomas High School, next to Interstate 80.
The developer plans to build 406 market-rate apartments and 149 affordable ones.
The city in March declared the property “surplus property” under the California Surplus Land Act, triggering a process to find a developer to build affordable housing, the city staff report said.
The city bought the property in 2003, and planned to construct a park and a baseball field complex there, the staff report said. In 2011, after the Great Recession, the city determined that it was not financially feasible to build it. The city was going to sell it to Natomas Unified School District in 2016, but the two parties could not agree on a price.
The project still needs approval from planning, fire, public works and other city departments, said Le Anne Thomas, Anton’s acquisitions manager. Construction will likely begin in 2023 with first units delivering in 2024 or 2025, Thomams said.
“We are really looking forward to bringing much needed housing to the area,” Thomas said.
To sufficiently address the city’s housing shortage, the city would need to create 16,769 new housing units for low-income residents by 2029, according to a state-mandated report. Low-income households are those in which a family of four earns $69,050 or less.
