July 21, 2022

Argosy Real Estate Partners Commences the Development of an Active Adult Rental Community in Folsom, CA (Sacramento MSA)

We are pleased to announce that Argosy Real Estate Partners has commenced the development of Avenida Folsom, a 154-unit luxury Active Adult (55+) rental community. Avenida Folsom is located in Folsom, CA, a suburb of Sacramento, and is in close proximity to medical facilities as well as multiple retail offerings including an adjacent Life Time Fitness facility and Palladio at Broadstone, which features over 55 retail stores, grocery stores (including Whole Foods and Costco), numerous restaurants, and a movie theatre.

Upon completion, the project will feature a mix of one-and two-bedroom units that feature high-end finishes including granite countertops, stainless steel appliances, luxury vinyl wood-style plank flooring, designer pendant lighting, and walk-in closets. Onsite amenities will include a fourth-floor lounge and viewing deck and over 10,000 sf of ground-floor amenity space, including a bistro and sports lounge, fitness center and yoga studio, library, theatre, and creative arts center, among others. The project will also feature an outdoor saltwater pool, barbeque area, dog park, community garden, and pickleball court.

Argosy’s development partner is a partnership between Avenida Partners, a Newport Beach, CA, based developer of active adult rental communities and Sacramento, CA-based Blue Mountain Enterprises, an experienced developer and general contractor that specializes in single-family homebuilding, market-rate apartments and senior housing facilities.