University Enterprises has leased two lofts ?” out of eight total ?” in the recently completed Folsom Boulevard and 65th Street development, with the goal of making them available to faculty and staff members.

The development, known as “F65” from the bright green neon sign in front, blends loft living with the convenience of street-level restaurants, including Strings Italian Cafe, Dos Coyotes and Starbucks coffee.

The two units were leased by University Enterprises at $1,600 each for five years, according to Lisa Hall, director for Project and Resource Development for University Enterprises.

Hall said the “priority” is to sublease the lofts to faculty or staff.

“We have shown (the lofts) to a few interested folks,” Hall said. “(Prospective tenants) have been university affiliated and nonuniversity affiliated.”

The two-story lofts have 16- to 18-foot ceilings in the living area, a skylight above a spiraling staircase, granite countertops and a private balcony, according to the University Enterprise’s Web site.

“It’s an urban living environment drawing folks used to that environment and those who don’t want to mow lawns anymore,” Hall said.

Rafiqul Bhuyan, assistant professor in the College of Business Administration, said he moved to Sacramento from out of state after being hired by the university last August. About a week after Bhuyan had settled into a hotel while looking for a permanent place to live, he received an e-mail from the university with information about the lofts.

“(The lofts) were way too expensive for a two bedroom condo,” Bhuyan said. “I didn’t go look because of the price.”

Bhuyan said he is currently renting a three-bedroom, two-bathroom house about eight miles from campus, and is paying $1,200 per month.

Over the five-year lifespan of the lease, the lofts will cost the university approximately $96,000 unless tenants move in and sublease the lofts for $1,600. University Enterprises entered into the leasing arrangement last October.

The two lofts the university has leased are part of group of eight lofts in the F65 development. The other six lofts have been leased through Loftworks, sister company to Fulcrum Property Group, the developer of F65.

Gurjeet Toor, leasing agent for Loftworks, said the lofts are all two bedroom, one bathroom units and are approximately 1,030 square feet. The units leased through Loftworks are also $1,600 per month.

“We are always looking for opportunities,” said Toor of future development plans. “And we’d like to do something more in the area in the future given the success of F65.”

Hall said there is another development in the works at the Folsom Boulevard and 65th Street location called the Upper Eastside Lofts. Plans call for two separate four-story buildings, which will house 134 loft units and about 10,000 square feet of retail space, and is scheduled for completion in the spring of 2007.

“We have been talking to the developer about possible student housing at the Upper Eastside Lofts,” said Hall, noting that “we have to accommodate growth” in the student population.

The Upper Eastside Lofts are being marketed as ideal for people who don’t have a car, Hall said.

She said surveys of both local and international incoming students asking if they would be interested in this type of living, revealed that students would consider it as an option.

Larry Meade can be reached at [email protected]