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City of Elk Grove to purchase 15 acre parcel near Bruceville and Big Horn for future affordable housing

Earlier this evening the Elk Grove City Council agreed to purchase a 15 acre parcel at the Northeast corner of the intersection of Big Horn Blvd and Bruceville Road for $2.9 million.

The full staff report on the purchase can be viewed here.

“Staff considers the Property to be an excellent location for transit-oriented
housing development due to its close proximity to services and transit. The
site location also makes it an ideal opportunity to showcase innovative
design in affordable housing, and the size of the site may also offer
opportunities for middle-income housing. If acquired, staff plans to conduct
some preliminary visioning and design work (funded in part by the SB2
Planning Grants Program). Staff hopes to eventually choose one or more
developer partners to construct projects at the site, with the intent to make
use of some of the new funding being made available by the State to
support housing construction. Preliminary interest from the affordable
housing development community has been high.”

The current landowner Laguna Creek Landholdings, purchased the property in October 2017 for $1 million. In two years they will have realized a profit of $1.9 million.

The item was part of what is considered the “public consent calendar”. These are items that are generally not discussed and approved without comment by the city council. During public comment, Elk Grove resident Lynn Wheat requested the item be pulled out to allow for further discussion. The council did not decide to pull the item and approved all the consent calendar items, including the purchase.

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