SACRAMENTO, Calif. — A new development project aims to bring "urban living" to the Sacramento Waterfront.
The proposed construction would be built on the Raley's Landing development, which spans 18.2 acres on the west shore of the Sacramento River. It is made up of four parcels of land identified as the Washington Street Property: River 1, River 2 and River 3.
The Teel Family Trust and Fulcrum Property are proposing the new construction.
“Raley’s Landing is one of the most significant redevelopment efforts in the history of Sacramento," said Mark Friedman, president of Fulcrum Property.
The initial phase of development on River 1 consists of approximately 57 residential units, a 193-room boutique hotel, restaurant/bar and retail space.
River 1 sits directly across from the Old Sacramento Waterfront, between the Tower Bridge and the pyramid-shaped Ziggurat building.
The two building structures are planned to surround a shared outdoor space that offers views of the Tower Bridge, the Old Sacramento Waterfront and downtown Sacramento.
“My grandfather was ahead of his time. He had a vision of developing the West Sacramento Waterfront,” said Mike Teel, grandson of Raley's Supermarket founder, Tom Raley. “River 1 is the missing piece of my grandfather’s legacy and I am honored to bring this project to life."
The Ziggurat building currently sits on the River 2 site, where the California Department of General Services operates. Raley developed the original dock in 1981.
The California State Teachers Retirement System [CalSTRS] has been located at the River 3 site since 2008. CalSTRS recently announced the approval for a 275,000 square feet second building. The projected groundbreaking is scheduled to take place this year with an expected completion date of 2022.