SACRAMENTO, CALIF. — A California-based entity doing business as DHI Hellenic Apartments LP has completed the renovation and rehabilitation of Hellenic Senior Apartments, an affordable seniors housing property in the Pocket-Greenhaven area of Sacramento.
Renovations included replacing 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 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.