FOR SALE: 3009 Power Inn Road, Sacramento
Notice: We apologize for any inconvenience, but SacRT will need to hold off on accepting any offers on SacRT surplus property dispositions pending review and adherence to the Surplus Land Act AB 1486 process. It is important that we evaluate this Act to make sure we are incompliance with this Act before acting any offers. We will post updates upon receiving the appropriate direction.
We are seeking offers from developers to purchase this site and build a vibrant transit oriented development. SacRT will retain ownership of the station and bus drop-off area. Development will need to incorporate parking for SacRT passengers.
TRANSIT ORIENTED DEVELOPMENT:
The light rail system connects major civic and entertainment districts, employment centers and academic institutions. Adjacent to the Power Inn Light Rail Station, SacRT and the City of Sacramento encourage a walkable, vibrant TOD design and densities on this parcel that will increase transit use. Residents and employees will be able quickly travel to the heart of Sacramento or elsewhere in minutes; therefore parking ratios can be kept to a minimum. Past successful Transit Oriented Developments in the region have included mixed use and mixed income developments containing a portion of commercial businesses and services along with housing units.
C-2-SWR-PUD: General Commercial uses in the Granite Park Planned Unit Development (excluding Solid Waste activities) as set forth by the City of Sacramento, allowing for the sale of goods, performance of services and office uses, with the intent to encourage well-planned facilities that offer a variety of housing and other land uses through creative and imaginative planning. The City’s TOD Ordinance also applies to this parcel, prohibiting and restricting certain auto-oriented uses/services, warehouse/ distribution and other uses; while providing incentives for high-density housing and reduced parking. The General Plan designation is Urban Center Low with densities of 20-150 units per acres and 0.4-4.0 FAR.
Granite Regional Park is adjacent to our property and provides a host of amenities, activities and opportunities including multiple soccer fields, a fishing pond, walking paths, dog park and skate park. Just south of us is Granite Office Park, which hosts thousand of workers. Our neighbors include: County Superior Court, State of California, Rustic Brick Manufacturing, City of Sacramento, Office Max, Starbucks, Capital Cylinder Head, Wendy’s and so much more. The area is a mix of office, commercial industry, eateries and recreational areas. Area hospitals and Sac State are close by, with the Sacramento Center for Innovation less than a half mile. https://www.powerinn.org/economy/
CITY COUNCIL DISTRICT 6; COUNTY SUPERVISOR DISTRICT 1
Please provide the following information with your LOI:
- Purchase Price/cost per SF
- Deposit Amount
- Due Diligence Period
- Close Escrow Timeline
- Proposed Use
- Buyer qualifications and examples
- Financials to support the acquisition
For inquiries, please contact SacRT’s Transit Oriented Development & Real Estate Department at (916) 556-0246 or firstname.lastname@example.org.
Register as a vendor to be notified about development opportunities: https://www.sacrt.com/procurement/vendorbid.aspx
Please note that purchase sale agreements will require SacRT Board and U.S. Federal Transit Administration approvals, which will add a few months or more onto the transaction process.
City of Sacramento’s TOD Ordinance (applies to any property in the City within ½ mile of a light rail station) http://www.cityofsacramento.org/Community-Development/Planning/Major-Projects/TOD-Ordinance
U.S. Opportunity Zones: An Opportunity Zone is an opportunity for private investments, under certain conditions, to be eligible for capital gain tax incentives. https://www.eda.gov/opportunity-zones/