Steve Chamberlain
Executive Vice President
+1 916 563 3037
steve.chamberlain@colliers.com
Lic. No. 00813856
Colliers International
301 University Avenue | Sutie 100
Sacramento, CA 95825
www.colliers.com/sacramento
4.5 Acre Proposed Broadway Corridor Development
Potential High-End Grocer with Residential Above
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OFFERS DUE OCTOBER 28TH, 2020
(Purchaser to be solely responsible for their Broker/Agent(s) commission)
21ST @ BROADWAY
This 4.5 acre parcel at 2120 Broadway is a one of a kind development opportunity. Located on the burgeoning Broadway Corridor, the subject property is at the heart of this neighborhood’s resurgence. The project provides a developer the opportunity to control the single largest development parcel along Broadway and is at the center of the area’s redevelopment efforts. The Broadway Corridor is south of Downtown Sacramento and runs from the Sacramento River east to 29th street, spanning 28 city blocks. There are new retail shops, restaurants, and housing developments that have recently opened or planned throughout the area, including The Mill at Broadway, a 1,000-home development where more than 300 homes have been built since 2015 on the west end of the Broadway Corridor and the 2017 opening of Selland’s Market Café and Bike Dog Brewing Company at 9th and Broadway. Developers are bringing new multifamily housing to the Broadway neighborhood. Exciting new proposed projects range from the 51-unit Fitzgerald to adaptive reuses of existing buildings at 1700 Broadway, and new housing proposed at the 1.25-acre 1901 Broadway site.
BROADWAY'S TIME IS NOW
Broadway’s time is now. The corridor was long ago identified as the next R Street, which is an area six blocks north of Broadway currently undergoing a transformation from an industrial corridor to a redeveloped live/work/play atmosphere with new retail, restaurants, office space, and housing. There is a notable lack of grocery stores in the Broadway Corridor and Midtown, however. The 21st and Broadway site would be an ideal location for a major grocer to anchor the ground floor with new housing units above, being able to pull from the high-income neighborhoods of East Sacramento, Land Park, Curtis Park, and Downtown/Midtown. The City of Sacramento is investing in Broadway’s renaissance with its Complete Streets initiative, a plan to make Broadway more pedestrian-friendly by turning the street into one vehicular lane in each direction with a center turn lane from the Sacramento River to 29th Street and wider sidewalks throughout the area. The city will spend roughly $10 million on these street improvements with construction starting in 2021. All in all, there are 19 new development or redevelopment projects in the Broadway Corridor and the adjacent North Oak Park neighborhood.
SACRAMENTO'S URBAN CORE
The 21st @ Broadway site is in the middle of all this new development and investment into Sacramento’s urban core. Broadway turns southeast into North Oak Park, another area seeing a refresh of older buildings and new development into a denser urban and walkable area. The GIO, a high-end 213-unit apartment project in the Elmhurst neighborhood at Stockton and T Street on the north end of North Oak Park was completed in late 2019. The Fixins Soul Kitchen renovated an old office building into a restaurant space that opened in August 2019. The most exciting project in close proximity to 21st @ Broadway is Aggie Square which encompasses 25 acres located at Stockton Boulevard and 2nd Avenue, immediately south of the 625-Bed UC Davis Medical Center. Aggie Square is a collaboration between UC Davis, the State of California, and the City of Sacramento and will act as a hub for companies in the life sciences, food systems, government, mobility, civic technology, arts, and communications industries working in tandem with UC Davis. Phase I will include 750,000 square feet of office, classroom, science, technology, and coworking space, in addition to up to 200 housing units and 30,000 square feet of retail. Construction should start in 2021 and will create a true live/work/play development that will spur additional projects in nearby neighborhoods.
AREA SUMMARY
CURRENT ZONING:
C-1 (LIMITED COMMERCIAL)
HEIGHT:
Max 35 feet (current) Max 65 feet (proposed)
DENSITY:
30 unit per net acre (current) 60 unit per net acre (proposed)
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PROPOSED REZONE:
C-2 (GENERAL COMMERCIAL)
CONTIGUOUS PARCELS ARE CURRENTLY ZONED C-2
Steve Chamberlain
Executive Vice President
+1 916 563 3037
steve.chamberlain@colliers.com
Lic. No. 00813856
Colliers International
301 University Avenue | Sutie 100
Sacramento, CA 95825
www.colliers.com/sacramento
OFFERS DUE OCTOBER 28TH, 2020
(Purchaser to be solely responsible for their Broker/Agent(s) commission)
DEVELOPMENT OVERVIEW
Starting in 2021, the city plans to begin street improvements to Broadway, including:
COMPLETE STREETS
- Entire street one vehicular lane in each direction with a median turn lane
- New parallel parking along Broadway
- Buffered bike lanes
- Sidewalks will be expanded
- Construction should take about a year and cost $10 million
- Design review should be completed by fall 2020
- First phase is from 3rd to 16th with the second phase from 16th to 28th
- Broadway Complete Streets
BROADWAY CORRIDOR DEVELOPMENT OVERVIEW
Click Here to View Digital Broadway Corridor Development Map
- Broadway's Time is Now (Sacramento Business Journal - October 3, 2019)
PROPOSED AGGIE SQUARE
The first phase of Aggie Square will span 8.25 acres and include:
- 500,000 SF of science, technology, and engineering facilities
- 250,000 SF of classroom and coworking space
- 30,000 SF of "community-serving" ground-floor space
Projected to add 10,000 new jobs once completed & occupied.
HOME
AREA SUMMARY
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AMENITIES
Steve Chamberlain
Executive Vice President
+1 916 563 3037
steve.chamberlain@colliers.com
Lic. No. 00813856
Colliers International
301 University Avenue | Sutie 100
Sacramento, CA 95825
www.colliers.com/sacramento
(Purchaser to be solely responsible for their Broker/Agent(s) commission)
OFFERS DUE OCTOBER 28TH, 2020
INTERACTIVE SITE PLAN
STUDY PLAN
Click Here to View
Study Plan
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AREA SUMMARY
STUDY PLAN
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LOCATION OVERVIEW
AMENITIES
Steve Chamberlain
Executive Vice President
+1 916 563 3037
steve.chamberlain@colliers.com
Lic. No. 00813856
Colliers International
301 University Avenue | Sutie 100
Sacramento, CA 95825
www.colliers.com/sacramento
(Purchaser to be solely responsible for their Broker/Agent(s) commission)
OFFERS DUE OCTOBER 28TH, 2020
LOCATION OVERVIEW
21st & Broadway is situated in the heart of some of the most prominent neighborhoods in the Sacramento region. Explore the map below.
NEIGHBORHOODS
DEMOGRAPHICS
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Steve Chamberlain
Executive Vice President
+1 916 563 3037
steve.chamberlain@colliers.com
Lic. No. 00813856
Colliers International
301 University Avenue | Sutie 100
Sacramento, CA 95825
www.colliers.com/sacramento
(Purchaser to be solely responsible for their Broker/Agent(s) commission)
OFFERS DUE OCTOBER 28TH, 2020
AMENITIES
HOME
AREA SUMMARY
STUDY PLAN
DEVELOPMENT OVERVIEW
LOCATION OVERVIEW
AMENITIES
Steve Chamberlain
Executive Vice President
+1 916 563 3037
steve.chamberlain@colliers.com
Lic. No. 00813856
Colliers International
301 University Avenue | Sutie 100
Sacramento, CA 95825
www.colliers.com/sacramento
(Purchaser to be solely responsible for their Broker/Agent(s) commission)
OFFERS DUE OCTOBER 28TH, 2020