Asbury Place is an acquisition/rehabilitation of an existing 104-unit apartment community in Sacramento's Arden-Arcade community. This 2008 joint venture of Capital Valley Investments and Jamboree features 15 one-bedroom and 89 two-bedroom apartments. Built in the 1960s, Asbury Place suffered from tremendous deferred maintenance and substandard housing conditions.
Cited by the Sacramento Housing and Redevelopment Agency as some of the worst property conditions ever seen, the main goal of the renovation was to return the apartment units to the rental market at affordable rent levels and elevate the quality of the community for existing residents. A total of 72 units were vacant and uninhabitable due to water intrusion and damage to the apartments at the time of acquisition.
Extensive rehabilitation efforts included a total replacement of roofs, windows and siding. All unit interiors were renovated — including new kitchens and baths, the conversion of wall heating/AC to central HVAC, and the installation of washer/dryers in all two-bedroom units. Asbury Place now features a brand new community center with a computer lab for Jamboree's Housing with HEART resident services programs, tot lot, swimming pool and landscape enhancements. This transit-oriented community is located minutes from downtown Sacramento, shopping, restaurants, schools, parks and public transportation.