Station 65 will incorporate housing, office space, retail and pedistrian-friendly walkways along with access to Light Rail and Rapid Transit near CSUS. |
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STATION 65 WINS ALLIANCE APPROVAL
Station 65, a mixed use Transit Oriented Development (TOD) at 65th and Folsom, has received the endorsement of the Power Inn Alliance as the type of infill development that makes the best use of land, housing, retail and public transportation. The $120 million project, four years in the planning by developer Mark Lucas, envisions 64,000 sf of retail space, 72,000 sf of office space, 100 residential units plus a Marriott Springfield Suites hotel.
In a letter to the Sacramento Planning Commission, The Alliance stated, “This is the kind of project that will add greatly to the entire area, particularly with incorporation of the proposed Target retail facility and the “65th St./University Village Opportunity Area” proposed for the 2030 General Plan.
In a presentation to the Planning and Zoning Advisory Committee (PZAC), developer Lucas estimated that the projected economic impact to the community over a 30 year period:
1. Creating 600 on site jobs with increased RT ridership. Payroll estimated at $25 million, with the total economic impact estimated at $75-100 million based on a 3-4 times economic multiple.
2. City’s share of the estimated $135 million sales tax revenue generation of $17 million.
3. Hotel tax generation estimated at $31 million.
4. Property tax increment estimated at $17 million.
5. Project viewed as a catalytic project that would significantly spur on other future redevelopment in the area.
Endorsement by The Alliance is contingent on the understanding that future planning and development will give careful consideration to traffic flow, public transportation access, parking and pedestrian traffic as befits a mixed use project of this dimension.
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Alliance Chairman Bob Perrine presents Pioneer Developer Buzz Oates with a trophy inscribed, “In appreciation for bringing business, jobs and prosperity to many.” |
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BUZZ OATES HONORED AS PIONEER DEVELOPER OF POWER INN AREA
One of the earlist and most successful developers of the Sacramento area, particularly the Power Inn Corridor, Marvin. L. "Buzz" Oates was honored as "Pioneer Developer" at the recent Power Inn Alliance Annual "Dinner at the Warehouse."
Over 350 dinner attendees saw Buzz receive his award, along with political humorist Will Durst, who swung his political bat on both sides of the aisle. A live and silent auction genereated over $10,000 in revenues which, this year, will be shared with the Sacramento Local Conservation Corp whose corpsmembers helped with set-up and service. New this year was the "Wine Lover's Raffle," featuring a new wine chilller and over $2,000 in fine wines donated by The Alliance board of directors.
Jerry Mayberry, manager of Allied Waste Services, chaired this year's event, formerly known as, "Dinner at the Dump." He was aided by a committee of active volunteers including, Shawn Guttersen, Dave Sikich, Debbie Boersma, Tom Burruss, Felecia Velando, Steve Perez and Andrea Liebenbaum.
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NEW COMMUNITY CALENDAR HIGHLIGHTS NEIGHBORHOOD ACTIVITIES
A new feature on The Alliance web page is the Community Calendar listing local activities of neighborhood associations, nonprofits, schools and other community events. "Any legal activity that affects area residents, students or businesses can be posted on the Community Calendar," said Dawn Carlson who manages it.
Web surfers can access the calender by going to The Alliance web site (www.powerinn.org) and clicking on "Calendars," which then lists both Alliance events and Community Calendars. Organizations and individuals that would like their events featured at no cost should send a notice of what where, when and contact info to Dawn Carlson (dawn@powerinn.org) along with a web link or pdf if available.
For more information, click here. |
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