The Grace, a new workforce-housing development just off downtown Sacramento, received its final certificate of occupancy and opened to tenants on Tuesday, and it is already filling up fast. Developer John Vignocchi spent opening day on site greeting current and prospective residents as move-ins began, with management reporting strong early leasing momentum and a large share of units spoken for in the first days.
As reported by the Sacramento Business Journal, The Grace secured its final certificate of occupancy and was about 80% leased when it started welcoming tenants. Vignocchi was there on day one with the permanent CO in hand, and the Business Journal highlighted the rapid clip of lease-ups as the project shifted from construction to full-time occupancy.
Where It Sits And Who Is Behind It
Developer Urban Capital lists The Grace as a 45-unit project of roughly 25,000 square feet at 620 15th Street and shows the property in leasing status on its projects page. Rental listings on Apartments.com confirm the downtown-adjacent address, show early asking rents and indicate a small number of units still available online.
What “Workforce” Means For This Building
The Grace is designated as workforce housing through a program run with the Capitol Area Development Authority, which ties some units to income tiers at roughly 80% to 120% of area median income, according to the Capitol Area Development Authority. City planning documents show the project received about $183,000 in city funding tied to affordability and list 41 affordable units in the development, reflecting the program mix between studios and one-bedroom apartments.
Why It Matters
The brisk lease-up underscores ongoing demand for so-called “missing middle” and workforce housing even as luxury inventory softens, adding more modestly priced options close to downtown that many developers now prioritize. Local coverage of Sacramento’s building boom notes that Midtown and the River District have seen a wave of new multifamily projects as policymakers and developers work to balance market-rate growth with affordable housing needs, according to The Sacramento Bee.
Leasing Details And What Comes Next
Current rental listings show one-bedroom pricing in the mid-$1,800s to low-$2,000s and a handful of units still marketed online, according to Apartments.com. Urban Capital lists contact information on its site for prospective tenants and local partners that are handling leasing and property management as The Grace moves toward stabilization.
