Business Journal: Mercy Housing Starts New Project

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(Sacramento, CA)
Tuesday, March 28, 2006

Mercy Housing California hopes to start construction in May on this $24 million project. The renters will be 55 years or older. Their earnings would be between 30 and 50% of the median income for the area. 

Mercy Housing builds affordable units, and these will be half the market rate. Rents will range from about $300 to $650. A market study shows about 3,000 senior citizens in the Folsom area whose incomes would qualify. The apartment site is next to Mercy Hospital of Folsom, and full-time staff will provide services to the renters. Mercy Hospital has another affordable housing project in Galt, available to farm workers.