Downtown Sacramento Pushes Commercial Real Estate Boundaries

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CRE boundariesBy: JLL Staff Writer

As a city, Sacramento is in the middle of a transitional period, evolving from a Monday-to-Friday government town to an 18-hour city with a “live-work-play” vibe. This evolution will only gain pace in the next few years thanks to the response of developers and community initiatives. 

Mayor Kevin Johnson’s “Think Downtown” campaign echoes the call made in the late 1990s by then Oakland Mayor Jerry Brown for 10,000 new housing units downtown.  Though there were plenty of skeptics at the time, that plan has essentially been realized.  Mayor Johnson’s plan is reality and we expect more innovative and diverse housing developments to be announced downtown this year.

 Development is also stretching the traditional boundaries of downtown.  Once confined to an area bounded to the west by the Sacramento River, the railyards to the north, 16th Street to the east and the W/X Freeway to the south, exciting new developments have effectively pushed downtown beyond these former geographical limits.

 The Bridge District development across the river in West Sacramento is slated to deliver 9,700 residents and 5 million square feet of commercial space to a previously empty riverfront.  To the north, the railyards are being transformed into a 240-acre transit-oriented mixed-use development and, nearby, a residential/entertainment hub is planned near the confluence of the Sacramento and American rivers.

 The addition of these amenities will not only draw residents to the downtown core, they will expand the city’s traditional office market creating greater opportunities both for businesses to grow and for landlords to cater to that growth.  For more, read our downtown profile in the latest issue of THE GRID, our quarterly magazine highlighting trends in the Sacramento commercial real estate market.

 

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