Developers scale back Stockton Boulevard plan to single building with affordable units

By Ben van der Meer – Senior Reporter, Sacramento Business Journal

Dec 10, 2025

A revised proposal for a site on Stockton Boulevard has turned two apartment buildings into one, with 127 units including workforce housing.

A new development team has revised a proposed Stockton Boulevard housing project to include both affordability and fewer buildings.

Urban Capital LLC and Gateway Development Company are teaming with Rohit Ranchhod for a four-story, 127-unit building at 3200 and 3258 Stockton Blvd. in Sacramento.

"The project before was great, but it didn't pencil out," said Urban Capital founder and managing partner John Vignocchi. "This proposal is better in that you can build it."

Nearly two years ago, an application for the Ranchhod-owned site called for two apartment buildings with about the same number of units as well as ground-floor retail space. By comparison, the new proposal has a single building that's possible because city officials seem willing to abandon an alley running through the site, Vignocchi said.

Plans show the apartments would range from studios to three bedrooms. Square footages aren't outlined in the plans, though the building's total square footage would be more than 107,000.

Designs show the building wrapping around a central common open space of about 8,000 square feet, with 28 covered parking stalls behind it. Upper floors show lounge spaces. A ground-floor retail space isn't part of the new proposal.

Vignocchi said at least half the units, and likely about three-fourths of them, will be designated for workforce housing, or rents that are affordable to people making no more than 80% of area median income.

Including an affordability component helped secure support from City Councilmembers Caity Maple and Eric Guerra, who represent the two sides of Stockton Boulevard in the city, he said. Both deserve credit for creating conditions developers look for, he added.

"There are so many commercial corridors in the city and the county that are ripe for re-investment, but it has to be safe and clean," Vignocchi said. "You can't attract capital if you can't protect capital."

The new proposal also has a first for Urban Capital in three-bedroom units, meaning it's likely to attract more families compared to the company's downtown projects that have more studios and one-bedroom units, he said.

Given the tough market for getting equity partners for a development project, though, it could be a while before 3200/3258 Stockton breaks ground. In a best-case scenario, Vignocchi said, groundbreaking could start in 14 to 16 months for a project he estimates will cost in the $30 million range.

"Unfortunately, equity is very hard to come by right now," he said.

Ranchhod, better known as a hotel developer through his company American Hospitality Services Inc., bought the project site in 2023 for $2.49 million. Graphia in Lincoln is the project architect.