The State Public Works Board on Monday narrowed the choices for a new $439.1 million Sacramento County Superior Courthouse to two sites — the vacant 301 Capitol Mall lot that was once the proposed site for the Towers on Capitol Mall high rises and property within the Sacramento Railyards.
The state’s Administrative Office of the Courts will now begin a negotiation process with the owners of each lot to determine where the new courthouse will be built.
The office expects to complete site acquisition in one year and complete the project in early 2015.
The 301 Capitol Mall is owned by The Towers On Capitol Mall LLC, which is controlled by the California Public Employees’ Retirement System.
The Sacramento Railyards site is across the street from the Federal Courthouse and now owned by Inland American Real Estate Trust.
It’s unclear what the value of either property would be in today’s market, although the county has assessed the Capitol Mall lot at $21 million.
Sacramento Business Journal
This news isn’t anything we did not already know before but this doe’s show that the project is still moving forward. I hope they choose the Railyards location and jump start that area with development.