With nearly $450 million invested in development projects so far, the River District is moving ever closer to realizing its potential for being a valuable transit, business and community hub for the Sacramento region.

Business leaders, City Council members and members of the River District association gathered Thursday to hear the latest progress report on development efforts for 750 acres along a 2.5-mile stretch of riverfront that is currently residence to industrial, retail and office uses and about 400 homes.

The event, hosted by the River District board of directors and attended by more than 80 people, was an opportunity to learn about recently completed development projects and get news about upcoming projects.

“A lot of things have been completed and a lot of things continue to progress,” said Patty Kleinknecht, executive director for the River District association.

Kleinknecht pointed out numerous completed projects in the area including the new CHP headquarters at North 7th Street, the California Lottery headquarters that moved to its current 10th Street location in July and the new Greyhound facility which opened on Richards Boulevard the same month.

Development plans for the River District for the next 25 years include more than 8,000 residential units and nearly 4 million square feet of office space, along with light industrial space, retail and wholesale space and more than 3,000 hotel rooms.

“We’re trying to create a multi-use, transit-oriented area so people can live, work and play here,” Kleinknecht said. “We’re actually building this area to make the Sacramento city center stronger.”

Thursday’s event was held inside the warehouse of Party Concierge, an event staging and supply company that is known for producing larger-than-life props for conferences, weddings, and corporate parties.

“(Tonight) is a celebration of progress,” Kleinknecht said. “What better place to have the event than at a River District business for parties?”

Steve Goodwin, president of the River District association said the theme of the evening was “building, investing in, connecting and celebrating the River District,” and he has had positive feedback on area projects so far.

“There is a momentum going,” Goodwin said. “The things we’re building – the Green Line, Township 9, Powerhouse Science Center – all of these are good investments in our economy.”

Goodwin said the River District owes its success to “collaboration and to partnerships” and praised the diversity of business interests represented in the district.

“From almonds, automobiles and antiques to water, windshields and warehouses,” Goodwin said, “our businesses support our district and Sacramento’s economy and they will continue to do so as these projects continue.”

The River District Specific Plan is guided by the city’s 2030 General Plan and provides a tangible guide for issues such as street layout, zoning and land use.

River District representatives expect the next few stages will be completed quickly, although there is still work to do.

“Township 9 is underway and we’ll keep making progress on it,” Kleinknecht said, “and, of course, the Richards/I-5 interchange and the Regional Transit Green Line are under construction.”

The RT Green Line may be open as early as February 2012, Kleinknecht said, and the improvement project at the Richards/I-5 interchange should be finished in 12 to18 months.

Kleinknecht added that, just about the time when the Richards/I-5 interchange finishes, an upgrade to the Sacramento water treatment facility will be ready to begin.

Councilwoman Angelique Ashby was on hand Thursday to tout the latest achievements of development efforts in the River District – and to introduce the crowd to the man who may very well be their next City Council representative: Steve Cohn.

If the City Council finalizes the redistricting map that was approved on Aug. 9, the River District would be included in District 3, which Cohn represents.

“I’m always looking for a reason to cheer and point at Sacramento and say, ‘See! We’re doing it right.’ ” Ashby said. “The River District gives me plenty of reason to do that.”

Cohn said the River District has “great potential” and he would be honored to represent the district on City Council.

“The whole council thinks of the River District as important,” Cohn said. “It’s not just one council district – it’s important to the whole city.”

River District Specific Plan information is available here.

Melissa Corker is a Staff Reporter for The Sacramento Press. Follow her on Twitter @MelissaCorker.

Editorial Note: A correction has been made to one of the photo captions. The photo with Angelique Ashby is with John Nicolaus not John Nicodemus.