[CPEO-BIF] Kaiser to build hospital on Sacramento, Califonia railyard property

[Lenny Siegel <lsiegel@cpeo.org>]

Kaiser deal signals new direction for Sacramento’s downtown railyard

By Dale Kasler, Tony Bizjak and Bill Lindelof
Sacramento Bee (CA)
June 25, 2015

Sacramento’s old downtown railyard has landed a major hospital as its anchor tenant –and is sketching a new blueprint for the vast, abandoned site that city officials have been trying to redevelop for more than 20 years.

Kaiser Permanente announced Thursday it has agreed to buy 18 acres at the railyard’s northwest corner for a major new hospital. The Oakland healthcare giant became the first commercial enterprise to buy land at the ancient railyard since the final Union Pacific workers pulled out in 1999.

“It anchors this development,” said Sacramento developer Larry Kelley, who’s in the process of buying the railyard from an Illinois real estate company. “These are really important first steps.”

Besides jump-starting the development, Kaiser’s purchase illustrates a new vision that has emerged in the past year or so for the 240-acre railyard, the western terminus for the transcontinental railroad and a centerpiece of the city’s history. Previous developers stressed retailing, entertainment and housing. While those elements will be well represented in the new design, Kelley’s company, Downtown Railyard Venture LLC, is focusing instead on offices and other uses that generate lots of jobs.

…

For the entire article, see
http://www.sacbee.com/news/business/real-estate-news/article25494463.html

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Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope Street
Mountain View, CA 94041
Voice: 650-961-8918 or 650-969-1545
Fax: 650-961-8918
LSiegel@cpeo.org
http://www.cpeo.org




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