Celebrating the Financial Closing of Shasta Hotel in Sacramento, California!
The John Stewart Company is celebrating the financial closing of Shasta Hotel in Sacramento, California. This impactful development will preserve 78 homes for special needs and homeless individuals and greatly expand tenant community spaces.
LifeSTEPS, a Sacramento based social services firm, will be providing life training skills, education, financial literacy, and health services to all residents. Shasta Hotel is in a walkable and service rich location within downtown Sacramento. Residents will continue to have excellent access to grocery, medical, and transportation.
US Bank is providing $7.7 million of Construction Financing. Permanent Financing includes $3.5 million from Housing Community Development – California Housing Rehabilitation Program, $4.2 million from the Sacramento Housing and Redevelopment Agency, and $1 million from AHP. Enterprise is excited to provide $16.2 million in equity towards this important development.