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.
Recommended For You
Suneet Singal, CEO and chairman of the board of First Capital, tells GlobeSt.com: "The project is bigger than the appraised value, when you include the valuations that are north of a billion. We like the Sacramento market because it has multiple product types, smart development, transportation, reverse urban sprawl and employment."
During the past 14 years, the Sacramento Redevelopment Agency and city planners have invested more than $100 million dollars in federal and local public dollars to transition the River District from an industrial area to a diverse urban mixed-use district. Highlights of the region include the American River, the new headquarters for the California Highway Patrol and California Lottery, the proposed site for a new major league soccer stadium, new Kings arena and direct public transit to the heart of downtown Sacramento.
"We are incredibly excited to partner with First Capital and bring our award-winning transit oriented development to life. With central downtown Sacramento to the south and the American River to the north, the T-9 development is poised to have a catalytic effect on downtown Sacramento's already flourishing housing market and urban lifestyle," said Steve Goodwin, a California developer and partner in the Township Nine project.
"We are proud to partner with local Sacramento developers on this extraordinary project," said Singal. "We believe that this project will unlock tremendous long-term value for our shareholders and the city of Sacramento."
© 2025 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.
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.
