The 104-acre site is bordered by East Bidwell Street, Iron Point Road and Broadstone Parkway. Elliott's project is being called Broadstone Town Center, in deference to the area of Folsom in which the project is located. If both the Kaiser campus and the mixed-use development come to fruition, Elliott officials say it would be one of the West's first mixed-use developments in which a shopping district, residential units and a major healthcare campus enjoy a master-planned relationship on one large site.
Dennis Dornan of Field Paoli Architects, the San Francisco-based firm responsible for the project's feasibility study, the master planning process and the design on the Elliott side of the project, tells GlobeSt.com Broadstone Town Center will include approximately 900,000 sf of built space divided among high-rise multifamily residential space and retail space. How much of each is still being determined, as the master planning process is still in its infancy, says Dornan, but the design will follow the Main Street format of traditional American downtown business districts.
The open-air retail district is expected to include several anchor stores amidst a large number of smaller stores, restaurants, movie theaters and higher-density residential areas. Vehicular traffic issues have yet to be addressed in detail, one design option includes the diversion of the region's future light rail system into and through the property.
"If we stay on-plan, we'll be able to initiate construction activities in 2005," according to Elliott Homes vice president Russ Davis, "and hope to have something open by the end of 2006. That may be a little optimistic, but we're very enthusiastic and anxious to get going."
The initial 10-year plan for the medical campus includes a 250-bed hospital, an outpatient surgery center and a number of medical office buildings. According to a preliminary Kaiser estimate, as many as 4,000 people could eventually be employed there. A Kaiser spokesperson tells GlobeSt.com no development has been approved by the Kaiser board, but plans are to develop an outpatient surgery center first and then follow that up with a small medical office buidling. The hospital, she says, is several years out and dependent upon continued strong membership growth.
If built, the hospital would be Kaiser's fourth in the Sacramento region, and just the beginning of its development activity there; Kaiser says it has $1.6 billion dollars of development planned for the area.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
