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Friday, February 10, 2012
Hundreds of homes to be built at West Sac's riverfront
by Kathleen Haley, published on February 22, 2010 at 9:27 PM
Storyline: Development
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It's a big hunk of a triangular-shaped pie. West Sacramento city officials want a large piece of a planned 12-million square foot development to move ahead.
City leaders decided last week to back a 386-unit housing project that will be led by Sacramento developer Mark Friedman.
Friedman’s project is part of a much larger development being planned for West Sacramento. The city plans to eventually transform a 188-acre expanse into a development project that could cover 12-million square feet, according to a Feb. 17 report written by West Sacramento city staff.
The 386 homes will be built at the city’s riverfront in the Bridge District, according to the report.
In the past, the Bridge District was called the Triangle District.
“This is a long-term development plan that we’re starting now,” West Sacramento Mayor Christopher Cabaldon said in an interview Monday. “Virtually everyone that lives around here knows that the Riverfront is our area’s greatest untapped asset.”
Cabaldon said he thinks Friedman’s homes will attract buyers despite the dismal economy. He said that young homebuyers, and buyers who are downsizing to smaller homes, would be interested in moving to the Bridge District to be close to attractions such as restaurants, shops and theaters.
The West Sacramento City Council unanimously approved Friedman’s project at its Feb. 17 meeting.
Friedman's company, Fulcrum Property, owns Arden Fair Mall in Sacramento.
Friedman said in an interview that he is putting $100 million toward the development and plans to start construction on the homes next spring. He used the words “green” and “smart” to describe the project.
“It has unobstructed views of the water,” he said, as well as views of Sacramento’s skyline.
Work on infrastructure will start this spring, Friedman said.
The city will be responsible for setting up infrastructure for the 386-home development, said West Sacramento Community Development Director Tina Gontarski.
The city is applying state funds toward its share of work for Bridge District development, according to the report from city staff.
Read the Feb. 17 report here.
Image courtesy of Mark Friedman and the Fulcrum Property Group.
Kathleen Haley is a staff reporter for The Sacramento Press.
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I think we have a good chance of getting it. And if we don't, the Bridge District will have beefed up bus links to downtown until we find another source of funds for streetcar and build up the network. But public transit is an integral part of the plan, not an afterthought.
I don't know if Friedman (and Heller) are going for sanctioned 'green' standards in construction and materials, but I'm sure there will be a significant element of that quality embedded, based on prior developments.
I'm THRILLED they did not incorporate previous efforts by Peter McKeon who wanted to build neo-classical silo office buildings along West Sac's river banks on the Triangle property...
This project is long overdue, and I am looking forward to what's new and what's reused creatively as this development proceeds...
The Commerce Department says Wednesday that sales of new homes fell to a record low in January. Sales dropped 11.2 percent and investors had been expecting an increase.
It just seems ridiculous to continue to erect concrete and steel structures on open space when there's really no need.
These projects have incredibly long lead times. And developers are apparently betting that the Sacramento area housing market will not look like 2008-2009 forever.
New riverfront properties within sight of downtown will find interested buyers far quicker than half finished tracts in Lincoln, which might sit unsold for years.
And unlike silly federal home energy initiatives and bloated stimulus bills, this project will actually create construction jobs that have a semblance of market sensibility to them.