White Rock Village to Provide Apts for Low Income Residents
El Dorado Hills is about to see its first affordable apartment complex -- enabled by the passage two years ago of Proposition 46.
Tuesday, November 30, 2004
Nearly 170 apartment units in what’s called White Rock Village should come to market in January. Rents will range from $600 to $1100 … but they’re only available to lower income renters. There’s nothing like it in the pricey El Dorado Hills market … which has some 5,000 workers in the immediate area. Many couldn’t afford to live nearby, until now. The builder is Mercy Housing California. It was established by Catholic nuns, and has other affordable projects underway. Part of the financing for the $31 million dollar complex comes from Proposition 46, which authorized a $2.1 billion bond to help with affordable housing within the state.