Work Starts On Sacramento Micro-Units Aimed At Millennials
Mohanna Development Co. broke ground recently on 19J, a mid-rise apartment community at 19th and J streets in Sacramento that will include micro-units from 312 SF to 460 SF. The Sacramento Bee reports the property is aimed squarely at millennials, who often want to live in the city center, but find rents there prohibitive.
Rents are high in the city. The average urban core rent is $1,487/month for a 781 SF, one-bedroom apartment, according to Colliers International and MPF Research.
19J will include several communal spaces for its residents, such as outdoor/indoor patios and lounges, fitness centers, a sky terrace overlooking the downtown skyline and a 1,500 SF rooftop garden. There will also be 7K SF of ground-floor retail.
Eighty percent of the 173-unit development's residences will be studios. Mohanna said the smallest units will fetch less than $1K/month, but also that it is hard to predict what rents will be for larger units when the property opens in late 2018.