LETTER FROM THE EDITOR
A Move to Midtown Might Not Be in the Cards
PHOTO BY TERENCE DUFFY
I
’ ve lived in Elk Grove since 1991 , drawn initially by the highly regarded schools , the great parks and the relatively bargain housing prices . Even after growing to an estimated population of 175,000 ( making it the second-largest city in Sacramento County ), it ’ s been a great and safe place to raise a family .
But it ’ s not like Midtown Sacramento , which has become known for its abundance of independent restaurants and nightspots , walkability and proximity to state employment — and the numerous market-rate apartment buildings that have sprouted up seemingly overnight .
For the past couple of years , I ’ ve considered a lifestyle change , possibly trading in suburbia for a more urban experience , like a friend of mine did 18 months ago when she rented out her home in Rancho Cordova and leased an apartment in a 1950s-era building in the Newton Booth neighborhood just south of Midtown Sacramento .
Since this is Comstock ’ s annual housing issue , I set out in mid-November , with my friend in tow , to visit two fairly new apartment buildings . Our first stop was at The Press at Midtown Quarter , named as such because it was built across 21st Street from the longtime home of The Sacramento Bee and atop The Bee ’ s parking garage ( where , full disclosure , I parked for many years while working at the newspaper , bringing back a flood of memories ). Its website says “ You ’ ve never seen amenities like this before ,” a claim we can ’ t dispute after our tour ( though many are either unavailable or have limited availability due to the coronavirus pandemic ): a pool , game room , work space , fitness center , pet spa ( no kidding ), rooftop lounge , bike shop with tools and outdoor frills ( barbecues , ice maker , pizza oven , heaters ).
Of course , tenants pay for those amenities . The Press offers a range of apartment sizes in its 277 units , starting at a 426-square-foot studio ( listed at $ 1,793 per month ) all the way up to a 1,326-square-foot , three-bedroom , two-bath unit ($ 4,855 ). The apartments are fully loaded , including stainless steel appliances , wine fridges , washer and dryers , and smart door locks and thermostats . We opted to tour a 1,213-squarefoot , two-bedroom , two-bath unit with a loft that serves as the second bedroom ($ 4,310 ). Those prices don ’ t include parking in the garage , which is $ 250 per month .
Figuring those prices were out of my comfort zone , we ventured over to 16 Powerhouse , on the corner of P and 16th streets , which features several restaurants on the street level ( a nice benefit ) in the 53-unit building . Built nearly three years ago , 16 Powerhouse has an interior courtyard but no other common amenities ( some are planned for mid-2022 , according to the representative with whom we toured ), but we found the floor plans , views , large closets , patios and square footage more to our liking , though the prices were very similar to The Press . The 1,489-square-foot , two-bedroom ( again , the second bedroom is a loft ), two-bath unit we saw rents for $ 4,335 for a 12-month lease .
The Press and 16 Powerhouse , like most new apartments in Midtown , are modern and sleek , offering top finishes and luxury living in the heart of a thriving , vibrant neighborhood . We ’ ve all read about the increased influx of tech workers from the Bay Area ( including in Torey Van Oot ’ s story , “ Boom From the Bay ,” on page 54 ), so I assume these are some of the folks who can afford these rents .
Of course , these are the extreme . My friend pays $ 1,295 per month for her 750-square-foot , one-bedroom , one-bath apartment . It ’ s not modern like The Press and 16 Powerhouse , but it has tons of character , two large walk-in closets , a storage unit in the basement , a single-car garage and a parking space ( both included in the rent ).
Rent Jungle , an apartment search engine , reports the average rent for an apartment in Sacramento in October 2020 was $ 1,663 ($ 1,525 for a one-bedroom , $ 1,781 for a two-bedroom ), nearly double the $ 873 average 10 years ago . With interest rates for 30-year mortgages about 3 percent , the monthly payment for a median-priced home in Sacramento County and West Sacramento ($ 439,950 in October ), including principal , interest , property taxes and insurance , would be $ 2,070 , assuming a 20 percent down payment . Plus , homeowners who itemize on their taxes can deduct interest and property taxes ( with some limitations ), bringing down the actual monthly cost .
My tour of these two Midtown properties shows that the city is changing dramatically and rapidly but at what price ? As the grid becomes more desirable , will longtime Midtown residents be pushed out , replaced by transplants from the Bay Area with higher incomes ? I hope city officials work hard to ensure that more affordable housing is available in the central core , so folks at all income levels can enjoy the vibrant culture .
Tom Couzens Executive Editor
January 2021 | comstocksmag . com 17