Township 9 - Marketing Office/Biotech Lab space for lease

Township 9 is currently owned by 29th Street Capital. Phase C is on the south side of the site located at the light rail stop and runs along Richards Boulevard directly across the street from the 1.3MM SF State of California office complex slated to be delivered in 2025 and house 5,000 employees. The west half of the Phase C will be comprised of a 120,000 SF biotech office building.

Township Nine Bankruptcy Sale

Proposed Township Nine fully entitled river front mixed-use project for sale

Colliers International is now promoting the bankruptcy sale of Township Nine and it’s 62-acre master planned community. With a majority if infrastructure completed with streets paved, sidewalks done, trees planted, and access to the bike trail on the American River. This site is ready to go vertical.

The site was planned to be home of 2,500 condos, office and retail stores and restaurants, but in the end only the Cannery Plaza Apartments were built. This project had so much potential, something tells me it will sit vacant for a while even if the land is sold in the near future.

Township Nine Cannery Plaza Apartments

The development was reported to be facing financial issues for quite some time but this last June The Board that reviewed the Company’s financial position found it was no longer able to pay its debts and needed to reorganize.

http://www.colliers-sacramento.com/T9_Brochure_FINAL.pdf

Township Nine

Residents at Cannery Place Apartments will move in this September.

View down 7th Street.

Looking south from the levee.

The Township 9 project is a mixed-use development in the Richards Boulevard Redevelopment Area. 2,500 housing units are planned in addition to 840,000 square feet of office space, and 145,000 square feet of urban retail. Residents at Cannery Place Apartments will move in this September! Township Nine is a 65-acre mixed-use development  costing around 2 billion dollars and take approximately 10 years to complete.

https://www.facebook.com/TownshipNine

http://www.t9ontheriver.com/

 

Grant Money for Township 9

Tonight the City Council will assign the second round of Proposition 1C money in the amount of $10.9 million to Capitol Station 65, LLC and to increase the amount assigned under the first grant by $ 1 million to reflect the change in the cost of the parking garage for the Township 9 project.

The first awarding of Proposition 1C grant money was for $19.1 million in 2010. Capitol Station 65, LLC ("Master Developer") will dedicate a site to an affordable housing for development of 180 affordable units housing and undertake the off-site improvements needed for development of these parcels.

In 2008 and 2009, the City was awarded a total of $30 million in Proposition 1C Infill Infrastructure Grants from the State Department of Housing and Community Development (HCD) for the Township 9 project under two separate grants. Part of the HCD grants provides funds for project infrastructure and part is in support of the affordable housing project.

Affordable Housing Developer for the project has since changed. The initial grant allocated $7.2 million of the overall grant to the affordable housing parking garage. The initial budget for the parking garage was based on estimates for construction at the time of application. The budget has been refined, based on current cost estimates, and the amount needed to construct the parking garage is currently estimated to be $6.2 million. HCD has approved reducing the parking garage portion to $6.2 million and increasing the grant allocation to other infrastructure projects in the overall T9 budget.

Township 9 granted $1.3 million

One of the few large infill projects still moving forward in the Sacramento area got another financial boost by the state yesterday; this time from the State's Housing and Community Development's Catalyst Projects for California Sustainable Strategies Pilot Program in the amount of $1.3 million. With the combination of several other grants received thus far, the project has lined up $52 million in total grants with $30 million from Proposition 1C and $20 million in infrastructure grant funds.

Township 9 is a 65acre planned mixed use community located in the City's River District and adjoining the southern boundary of the American River. The Light Rail Green Line Station is currently under construction and will begin operations in early 2011. The first major building to begin construction at Township Nine will include 180 apartment units and ground floor retail with the rest of the project constructed incrementally over the next ten years. Township Nine is also expected to achieve Gold status for The U.S. Green Building Council’s LEED™ for Neighborhood Development program. The total projected cost to built out this project estimated at $1.7 billion.

Township 9 Parks Master Plan

Township 9 is a 65acre planned mixed use community located in the City's River District and adjoining the southern boundary of the American River. Parks within the project include a passive community park along the American River, a small neighborhood park centrally located within the development, widened street medians and a mew, a transit plaza and mid-block paseos. The parks will serve the residents and employees of the development and will help to move pedestrians and bicyclists through the project site as they make their way towards the American River. A master plan for all of the parks, with the exception of the mid-block paseos, will come to City Council for approval on August 10th.

On July 1, 2010, the City of Sacramento Parks and Recreation Commission (PRC) reviewed and supported the Parks Master Plan for Township 9, recognizing that the parks included expensive elements not typically found in City parks, and that maintenance of the parks would be more costly. The PRC recommended that park maintenance be conducted by City staff rather than by a private entity, following discussion about the Project's Development Agreement which requires the Developer to form an assessment district to fully fund the maintenance of the parks. The Township 9 Development Agreement allows the City to enter into an agreement with an outside entity to perform the maintenance.

The City received $30 million in Proposition 1 C grant funding that was assigned to the Township 9 development project. This funding has enabled the developer to begin construction on this high profile project. The Proposition 1 C funding will focus on the design and construction of infrastructure needed to develop the site (streets, sewer, water, storm drain and dry utilities), three parks (Transit Plaza, North 7 th Street Median, and Riverfront Park), and light rail improvements in consideration for development of 397 market rate housing units and a 180 residential unit affordable housing apartment. Staff will return to City Council for action on a Credit / Reimbursement Agreement for "turn-key" park development with the Township 9 Developer at a later date. Development of parks creates an ongoing cost for park maintenance and utilities based on the size of the park. The Project's Development Agreement requires that a Community Facilities District or other assessment district be formed and funded before the City will accept each park. The ongoing maintenance of each park will be fully funded by the District to offset any new impact to the Department's Operating Budget.

Timing: The Transit Plaza, North 7th Street Median, Riverfront Plaza and Riverfront Park are anticipated to be completed by mid-2011

Township 9 Public Hearing with the Planning Commission

Township 9 is comprised of 4 districts. Transit Area, The Central Mixed-Use Area, Live/Work Townhouse Area, and Riverfront Area.These are from the Planning Commission Meeting Agenda for July 26th.

On July 26th Township 9 will go before the Planning Commission to review the mixed use of residential, retail, and office use of 65 acres. Rezoning of 37 acres has been requested from heavy industrial to residential mixed use zones. This is another sleeper project that when compete will meet all the urbanism principles of smart growth. Township 9 has proposed 2,981 dwelling units and 147,000sf of retail. In May of this year the proposal went before the City Preservation Commission and received approval to move forward with demolition of the existing structures on the site.