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Originally Posted by downtownserg89
Alright who's gonna post the full article from SBJ regarding the new Township 9 plans? Does it come with any renderings? I hope they don't make it look all half-assed and suburby. That chunk of land has some serious potential to bring some flair and density to The River District.
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I read the article...
There are no renderings and not a lot of specifics.
Basically, 29th Street Crapitol (a Chicago based developer) announced they are taking over a portion (or all?) of the Township Nine redevelopment project.
In their press release, 29th Street claimed they now control an unspecified portion of the Township Nine land, and they plan on restarting development this fall with 936 new multifamily units. Sacramento's development tracker does not currently show any applications to build in Township Nine; and it is not clear how much of the redevelopment land 29th Street would control. Also, there is no information on where the 936 units will be located, or how they would be structured. We
do know that 29th Street already owns 18.3 acres within Township Nine, and they plan on building up to 1,400 multifamily housing units in later phases. I assume this announcement means they will own more land (18.3 + "X" acres) and plan on building up to 2,300+ multifamily units at Township Nine?
29th Street is also involved with The Mill at Broadway, where they are currently building 752 apartments (in phases). The firm is expanding its Sacramento development team and is making a huge play to be part of Sacramento's development future.
Township Nine, which is located within the River District, is a 65-acre development project that has been left to rot for the past decade. The only completed project within Township Nine is Cannery Place Apartments, an affordable housing project that received massive subsidies. Cannery Place was built at least 10 years ago. One could argue that the California Lottery headquarters is also part of Township Nine. However, I don't think it is technically is part of the development; the Lottery building may be within the River District, but not part of Township Nine. Plus, it was also built a decade ago. Regardless, Township Nine has not seen any development for a long time; so this is really welcome news. Still, I am not sure how good the project will be.
I can only hope that 29th Street is planning something really nice. However, if you look at the 82-unit apartment project they are currently building in The Mill at Broadway, it's kind of, "meh." (I think the 82-unit project is a phase of the overall 752 units they'll build, it's spread over three buildings, and it's 3 or 4 stories tall...meh.)