Crowds gathered in midtown Thursday night for the ribbon cutting of the area's newest apartment building. Our Chris Thomas was there on the corner of 16th and N Street. He has a look at how Eviva Midtown is responding to claims hardworking families are being priced out.
"Another complex pricing hard working individuals out of Midtown," wrote Adam on Facebook. "A studio for $2000/mo?! This is crazy! Something needs to be done to regulate housing costs."
Community manager Shauna Gowen points out internet and cable is covered in the rent for each unit. She says residents also get 24 hour access to the onsite fitness center.
"That's not what we are here to do...price anybody out," said Gowen. "We do let them know that we are a brand new building...luxury living. Our studios are rather large for a studio. They are 750 square feet. Normally you'd get about 400 to 500 square feet of studio. So you have a larger living space for the price."
Site managers claim the new construction is Sacramento's first modular building. Some have called it the "lego building."
"The apartments were pre-built in Idaho, and they were brought over on a big truck," said Gowen. "They actually stacked them on top of each other. Our whole intention with this building is about reviving Sacramento. That is where our name comes from...Eviva..we just took off the R and the L."
Resident, Stephen, likes the new building.
"Greatest value in Midtown I could find if you are a dog owner!" he said on Facebook. "Feels like a small, close-knit community so far! And I can't wait for the beer fridge!"
A new report from yardi matrix, a real estate research firm, found that Sacramento led the nation in biggest rent hikes from the year before. As of January, rents are up more than 10 percent since January of last year. The next metro area with the biggest rent hike was Seattle. Yardi matrix expects rents to grow another 10 percent by 2018.