SACRAMENTO, CALIF. — DHI Hellenic Apartments L.P., a California-based limited partnership, has completed the renovation and rehabilitation of Hellenic Senior Apartments, an affordable senior’s housing property in the Pocket-Greenhaven area of Sacramento.
Renovations included replaced roofs and siding, new energy-efficient systems and updates to common areas such as the clubhouse, leasing office and laundry facilities. All 70 units received new windows, sliding glass doors, energy-efficient appliances, dishwashers, modern kitchen cabinets and countertops. Fourteen units were upgraded to be fully ADA compliant, and several units received additional modifications to accommodate residents with mobility, hearing or visual impairments.
Hellenic Senior Apartments offers units designated for tenants earning at various income levels: 30 percent of the area median income (AMI), 40 percent AMI, 50 percent AMI and 60 percent AMI.
DHI Hellenic Apartments secured financing for the project through a combination of 9 percent tax credit equity provided by R4 Capital LLC with CVS Health | Aetna as the investor limited partner, a construction loan and permanent loan proceeds from East West Bank.