Asteria Flats Affordable Multifamily Housing Bonds
Rancho Cordova
Summary
The city is lending $5 million to get a 236-unit affordable project for working families built at Sunrise and Chrysanthe, serving households earning roughly 30-70% of area median income. Construction could start in June with occupancy by end of 2027.
At a glance
- Total mentions
- 3
- Last 30 days
- 1
Discussed at 1 meeting in the last 60 days; most recently Oct 5, 2026.
Impact analysis
$5 million city loan, with staff trying to trim the amount if construction bids come in under budget.
Working families earning $30,000 to $105,000 a year who need below-market rent, plus the vacant site finally gets developed.
No groups negatively affected
Mentions & discussions (4)
City Council - Oct 5, 2026
The city was scheduled to hold a TEFRA hearing on conduit financing that would help fund the Liora Apartments affordable housing project. Conduit financing passes tax-exempt bond benefits through to the developer.
City Council - Feb 2, 2026
The city is lending $5 million to get a 236-unit affordable project for working families built at Sunrise and Chrysanthe, serving households earning roughly 30-70% of area median income. Construction could start in June with occupancy by end of 2027.
Housing for very low income residents could come to this Sacramento-area suburb
Housing for very low income residents could come to this Sacramento-area suburb Sacramento Bee
City Council - Jan 5, 2026
The council supported the creation of a 236-unit affordable housing project by approving tax-exempt multifamily revenue bonds.
Related development
Liora Apartments Affordable Housing Project
Keeps an affordable housing project's financing on track, though the city isn't on the hook for the bonds.
Asteria Flats
Construction starts around June 2026 with roughly 24 months of building; residents could move in by the end of 2027, adding significant affordable inventory near Anatolia.
We'll email you when it's on an upcoming agenda and when it's voted on, at most once a day.
The weekly brief for Rancho Cordova
What the council decided, in plain English — one email a week.
Free. Unsubscribe with one click any time. We never sell your email.