By Mike Hazlip—
A large, senior apartment complex on Sunrise Boulevard that was the subject of several closed-door meetings with city leaders last year is now slated to be sold at auction on April 17, according to a listing on commercial real estate site LoopNet.
The site lists the Auburn Oaks facility at 7501 Auburn Blvd. with a starting bid of $4 million. The facility has 130 apartments on a lot size of over three acres and was built in 1977, according to the listing.
Auburn Oaks was the subject of a closed-door City Council session last August, a previous report by The Sentinel shows. After the session, the city confirmed Colorado-based LIFE Foundation was in contract to buy the apartments.
Under the draft terms, staff planned to collaborate with the foundation to secure grant funding and designate the property as permanent low-income senior housing, although no city funds would be committed to the project beyond staff time. “In turn, the Life Foundation would own and operate the senior housing project and perform ongoing grant administration,” the city said at the time.
In an update last week, LIFE Foundation President Barnett Davis told The Sentinel his organization had sought to come to an agreement, but was unsuccessful.
“The Life Foundation and city leadership met multiple times as we diligently pursued a Community Care Expansion grant through the State of California and pushed hard to have the application reviewed and approved in a timely fashion,” Davis said in an email. “The City staff was exceptional in these efforts… beyond exceptional. We had an unimaginable opportunity to do something extraordinary to impact the homeless issue… but, we were unsuccessful.”
He said the contract to purchase the property expired, and the LIFE foundation has no connection with the property.
Economic Development and Community Engagement Director Meghan Huber told The Sentinel in an email Friday that the city does not have a role in the auction, but is aware that the property is slated for auction.
“The City does not intend to purchase the property and will not have a role in determining the property’s future use outside of zoning regulations,” Huber said.
The listing is brokered by Roseville-based Palmer Capital, a commercial real estate firm. Palmer Capital did not return The Sentinel’s request for comment. A phone call to the property went unanswered and Sentinel staff were not able to leave a message.
A May 2019 report by The Sentinel shows Auburn Oaks Senior Apartments was listed for $8.5 million. It was again listed in August 2022 for $15 million, The Sentinel reported.
Vice Mayor Bret Daniels previously told The Sentinel that the city had no interest in purchasing the facility.
“It is not the city that is engaging in the purchase,” Daniels said. “[W]e are considering assisting a buyer in the process but that does not mean an ownership interest or any money on the city’s part.”
