Watercrest Apartments

Location:

4400 Elkhorn Boulevard
Sacramento, California

Property Management:

Fairfield Properties
(916) 348-1008

Click here to visit the Fairfield website.

Project Description:

Watercrest Apartments consists of 206 units --- 50 one-bedroom and 156 two-bedrooms units. All of the units are rented to families earning 60% or less area median income.

Background & Status:

Purchased in 1999 by Fairfield Residential. Project renovation was completed in 2001. In 2007, Wakeland became a partner in Watercrest Apartments. A limited partnership between Wakeland and Fairfield Residential where Wakeland is the managing general partner and Fairfield is the co-general partner was formed.

Financing Sources:

Tax-exempt bonds and tax credits.

Resident Services:

Resident Services include a Business Center with internet access and self-paced job skill training program.