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Mixed-Use Development to Capitalize on Capital Market

SACRAMENTO—The development plans for the 62.6-acre mixed-use project call for the construction of up to 2,400 housing units, 840,000 square feet of office space and 150,000 square feet of urban retail.

Township Nine rendering The development plans for the 62.6-acre mixed-use project include housing, office and retail.

SACRAMENTO—In Sacramento’s River District, Township Nine is part of a larger redevelopment of a former rail yard. The development plans for the 62.6-acre mixed-use project call for the construction of up to 2,400 housing units, 840,000 square feet of office space, 150,000 square feet of urban retail, and 20 acres of parks and open space when complete.

The project has an appraised value of $78 million. First Capital, an SEC-registered public non-traded REIT, acquired a 92% indirect ownership interest in Township Nine, according to First Capital Real Estate Advisors LP, the external adviser to the REIT.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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