To all sewage watchers,
The construction of these three story multi-residential & commercial units on the city property (yes, it is public property to be sold for secret amount the city will not reveal to us)
will have a direct adverse impact on the over-whelmed city sewage system..
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Aug 19, 2014, 5:48am PDT
Redevelopment
Long-stalled Folsom Station redevelopment project nearly back on track
Enlarge Photo
Dennis McCoy | Sacramento Business Journal
A mixed-use project called Folsom Station stalled by the death of redevelopment agencies could get back on track within the next six months or so, The project is planned for 4.9 acres of what was the Sacramento Valley Railroad depot and includes a plaza surrounded by mixed-use buildings with retail, office and residential uses at 921 Sutter St. Here, work is done on a railroad turntable is 2011.
A mixed-use project in Old Folsom stalled by the death of redevelopment agencies could get back on track within the next six months or so, according to the developer.
“Right now, I’m looking at lots of emails between my attorney and the city’s attorney,” said Jeremy Bernau of Bernau Development Corp., which is managing member for Folsom Railroad Block Developers LLC. “We’re in the process of getting the legal documents, and I hope to have it in hand in 30 days.”
Called Folsom Station, the project is planned for 4.9 acres of what was the Sacramento Valley Railroad depot in the city's historic downtown district. It includes a plaza surrounded by mixed-use buildings with retail, office and residential uses at 921 Sutter St.
Bernau said the project had all the necessary entitlements when state legislators voted to end redevelopment agencies in 2011, stopping a land transfer to allow development. The project then had to wait for the state to approve a successor agency created by the city of Folsom.
Bernau said his group had deposits for 75 percent of the residential units in the Granite Building part of the project when redevelopment ended.
“It’s difficult,” he said. “You've got a business plan, you've got resources devoted to a project, and that just stopped and you have to pivot to other projects.”
But patience has paid off with land title transfer in sight. Once that’s done, Bernau said, work should get underway in early 2015 on what will be the Roundhouse Restaurant building, with a tenant already interested.
From there, the plan calls for project build-out in about four years, at a rate of about one building a year, he said.
Ben van der Meer covers real estate, development, local and regional planning, construction, transportation, agriculture and water for the Sacramento Business Journal.
