Roseville negotiating for mixed-use project in Old Town

Roseville could see more housing in the core of the city, with a mixed-use project in the city’s Old Town area.

City officials will begin negotiations soon with Los Angeles-based Meta Housingover an undeveloped, 1-acre site at 304 Washington Blvd., a remnant from the city’s closed redevelopment agency. Meta Housing Corp. is also working to buy a neighboring parcel at 134 Main St.

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After acquiring both properties, Meta Housing would tear down a building at 134 Main, and build a four-story project of about 75 to 80 affordable apartment units and about 3,500 square feet of retail space on the combined parcels.

“One of Meta’s missions is to transform and enhance neighborhoods through the creation of vibrant new apartment communities,” said Aaron Mandel, Meta Housing’s senior vice president, in an email. “We quickly recognized the tremendous opportunity to do exactly that on this site, as the vacant and condemned properties are located near so many services and transit.”

Mandel said the project would also have interior community spaces and an exterior courtyard, as well as a pedestrian paseo along nearby Placer Road.

Danielle Foster, Roseville’s housing manager, said the project would be addition by subtraction. At 134 Main, the existing building is a former hotel with mostly empty retail space, making it more blight than asset.

Earlier this week, the Roseville City Council approved starting negotiations for 304 Washington with Meta Housing. Foster said the developer has already submitted a project application to the city.

“We’re excited about the potential of bringing a neighboring parcel to the project,” she said. “This supports our overall goal of bringing more workforce housing to downtown, and it brings more customers downtown as well.”

Both Foster and Mandel said the major hurdle, however, will be funding. If Meta Housing can cobble together enough money from state and county sources, construction could get underway in about 18 months, Mandel said.

Article and image provided by: Sacramento business Journal
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