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Roseville approves $1.5 million loan to convert Hampton Inn into 82 supportive housing studios
Summary
City council approved a regulatory agreement and $1.5 million residual‑receipts loan from Home Program Income funds to Advocates for Mentally Ill Housing (AMI) to finish rehabilitation of the Sunrose Apartments into permanent supportive housing; terms include 55‑year affordability and 3% annual interest accrual.
The Roseville City Council on Feb. 5 approved a regulatory agreement, loan agreement, promissory note and deed of trust to loan $1,500,000 to Advocates for Mentally Ill Housing Inc. for the Sunrose Apartments project, a conversion of the former Hampton Inn on North Sunrise and Douglas Boulevard into permanent supportive housing.
City housing manager Tricia Isom told the council the loan will come from the Home Program Income Fund and is structured as a residual‑receipts loan that will accrue on the outstanding principal at 3% per year. She said the loan and regulatory documents secure affordability for the project for the next 55 years and that the rehabilitation is scheduled to be completed by mid‑March with units fully leased by May 2025.
The project will produce 82 studio units and one manager’s unit intended for people coming directly from homelessness. The Roseville Housing Authority is providing eight project‑based vouchers, four of which are designated for veterans; AMI will offer on‑site supportive services. Jennifer Price, AMI’s CEO, told the council that AMI opened the first phase in June 2024 with 36 rehabilitated units now fully occupied and that tenants “were very appreciative.”
Veronica Blake of the Placer Community Foundation urged the council to support the transaction, calling the project “a very rare opportunity to create critical permanent housing for extremely low income residents.”
Council members moved and seconded the recommendation, and the measure passed unanimously on roll call.
The approved documents bind the property to long‑term affordability and authorize the city manager to execute related funding paperwork to complete the rehabilitation and leasing plan.
The city and AMI will monitor affordability and property management over the term of the agreement, and staff noted they will track the project’s compliance with the regional housing needs assessment requirements and HCD funding agreements.
Votes at a glance: the motion to approve the regulatory agreement, loan agreement, promissory note and deed of trust passed 4‑0 (Vice Mayor Albert: Yes; Council member Howde Shell: Yes; Council member Ricucci: Yes; Mayor Brunosconi: Yes).
