The Sacramento Business Journal’s reporting that this Wednesday Sacramento officials are expected to gather at the Maydestone apartment building for the grand opening of a formerly burned out structure rehabbed into 32 units of affordable housing.
It could be one of the last projects funded with redevelopment dollars for a while, given the dispute between local government and the state of California over the use of such funds. Most future projects are on hold until courts resolve the dispute over whether the state can take redevelopment money to help balance the budget.
Sacramento infill developer D&S Development kept many of the building’s original features, including roll-out beds and built-in furniture. The company put in a vintage-style elevator to maintain a consistent look dating back to the building’s construction in 1915. Also left untouched is the mosaic tile in front of the building that spells Maydestone with a backwards “N.” This is a $7.2 million renovation.