Walkable, multi-use neighborhood planned
Sacramento, Calif. – Real estate investment firm, 29th Street Capital, held a groundbreaking ceremony today, Tuesday, May 9th at 9 am to kick-off the start of construction on the first phase of Township 9. Mayor Steinberg was in attendance, as well as other dignitaries, to celebrate this significant milestone for the Township 9 planned unit development within the River District.
“Breaking ground was a big moment for the city of Sacramento. Township 9 has been highly anticipated, and it’s taken several years of planning to get to where we are now,” said Rachel Bardis, Senior Vice President of Development.
29th Street Capital plans to develop Township 9 in phases. The first phase will be developed with Bridge Investment Group and will initially consist of 372-units including studios, one, two, and three-bedroom apartments.
The development will offer best-in-class amenities including a pool, fitness center, playground, and clubhouse. In addition to the multifamily units, once this walkable neighborhood is complete, it will comprise of over 839K SF of office space, 146K SF of retail, and 2,381 residential units. Phase 2 of the Development will feature a Hyatt Caption hotel, which will serve as the initial entertainment hub of the community, providing a food and beverage destination by offering coffee, lunch, happy hour and dinner options for residents of the community.
“Our team is excited to get to work on a project that will have an extraordinary impact on the city of Sacramento,” said John Kitson, Executive Vice President of Development. “Sacramento is in need of more housing options for its residents, and Township 9, at completion, will provide an upscale, amenity rich and conveniently located housing option in the City, while adding also adding jobs to the area for years to come.”