Rancho Cordova’s largest infill project kicks off today when construction kicks off on a 128-bed assisted living center near Zinfandel Drive and Sunrise Boulevard.
Summerset Assisted Living and Memory Care Facility, when completed in fall 2013, will help meet one of the city of Rancho Cordova's 2003 incorporation goals -- accommodating aging residents, said Curt Haven, director of economic development and neighborhood services.
The $18 million, 80,000-square-foot facility, developed by Neil Huettenhain of Rescue, is expected to generate up to 150 full-time and construction jobs.
“We have limited senior housing choices,” said Haven. “The goal was to bring a project like this to Rancho Cordova.”
These kinds of developments have become harder to finance with the loss of redevelopment programs in California, but the developer of Summerset tapped into the little-known EB-5 visa program, which allows foreign investors who put at least $500,000 into job-generating programs in areas of high unemployment to get special visas. If the project is successful at generating jobs, the investors gain residency in the United States.
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