West Sacramento Council Considers Land Purchases in Bridge District, Near City Hall
Source: Sacramento Business Journal
Brokers: Scott Kingston , Ken Turton
West Sacramento’s City Council will vote Wednesday on two different land purchases aimed at both infrastructure and future urban infill development.
The council will vote on buying 817 and 829-849 Jefferson Blvd., near the city’s downtown, and separately on buying 860-870 Riske Lane, south of Sutter Health Park in the Bridge District.
“In terms of what the city hopes for and wants to have, it doesn’t quite match the market right now,” said City Manager Aaron Laurel, noting both properties are in areas where the city wants to see development with a mix of uses. “We can remove some barriers and reduce costs for developers later on.”
According to the agenda staff report, the city would pay $6.45 million for the properties on Jefferson, which are about 1.87 acres with 25,380 square feet of existing retail buildings and parking.
Laurel said if the purchase goes through, the city has no immediate plans for the properties other than allowing the current tenants to remain on existing leases.
Turton Commercial Real Estate listed the Jefferson properties for sale last year, with a $6.6 million asking price.