SACRAMENTO (CBS13) — As much of the Sacramento region deals with a housing crisis, a proposal would add more than 700 housing units near Arden Fair mall.

The three-story apartments named Arden Gateway would feature 734 units in 21 buildings, along with pools, clubhouses and other amenities.

It would be built on a now-vacant 24-acre property that was once home to the Sacramento Inn and movie theater. It was once one of Sacramento’s high-end hotels, but it became run down and it was demolished after the city declared it a public nuisance.

The building was once a magnet for homelessness, illegal dumping and prostitution. And Silvia Alvarenga with Imperial Homes and Investments says that hasn’t changed.

“It’s not good for our business, people don’t want to drive by,” Alvarenga said.

The proposal would bring much-needed housing inventory to Sacramento. Rent rates have gone up steadily as supply hasn’t met demand and people move from the Bay Area to escape sky-high prices.

The apartments would sit just inside the city limits of Sacramento, on the western side of Arden Fair mall next to Business 80.

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