Q4/ANNUAL MARKET REPORT 2022




It was a hot Sacramento summer day when I reported for my first day of work as the new Executive Director of the River District back in July I was new to the city and almost everyone I met shared my excitement over the potential of this emerging neighborhood, telling me I had arrived at just the right time Now, having spent nearly a half of a year here, I can honestly say that I am honored to be at the helm of this organization I believe that the River District is the future of Sacramento, and because we are building it right now, we have the opportunity to create a truly world-class place That's a lot to live up to, considering that Sacramento was recently named the best place to live in California by Forbes Magazine, taking into account crime rates, cost of living, and available activities.
We're making room for food and agribusiness entrepreneurs with the proposed Alchemist Public Market. Alchemist's programs to help train, equip, and empower under-resourced entrepreneurs to start their own food businesses.
We're making room for visitors to see more and do more, with the announced Caption by Hyatt Hotel, the Hanami Line cherry blossom park, and the newly opened, wonderful SMUD Museum of Science and Curiosity
We're making room for thousands of State employees to thrive at the Richards Boulevard Office Complex, and building homes for people of all income levels at projects like Mirasol Village, the Grower's District, Track 281 Apartments, and Township 9
Most exciting to me, we are making connections between those who have spent many years here in the River District with those who - like me - are just arriving, ready to find their futures. The River District is truly where old meets new, where teamwork meets technology, and of course, where our two greatest natural resources - the American and Sacramento Rivers - come together.
Our Vision: A vibrant, mixed-use urban community with an eclectic mix of residential and commercial land uses topped off with riverfront views and a variety of parks, plazas and open space.
It was a time of growth and new development in the River District in 2022, as several projects were completed or enjoyed their first full year of business.
Touchstone Brewing Co. offers a rotating tap of unique beers and offers cans for take-home
SMUD Museum of Science and Curiosity renovated a former PG&E power station built in 1912 into a world class hub for science education, exploration and promotion. While day time usually sees the museum full of young people on school field trips, the Museum opens its doors to the 18+ crowd for their exclusive MoSAC Night events, as well as their MoSAC Mixers each month.
Touchstone Brewing Co. is an extension of the popular Touchstone Climbing gym, Pipeworks, located at 116 N. 16th St. The brewery opened its doors in late 2021, and is currently completing construction on its own 2,600 SF taproom and restaurant, Pintworks.
Until recently, Sacramento Fire Department's Station 14 was housed in the second-oldest operating firehouse in the city. On December 5, the brand new Station 14 was officially opened at 1400 N. B St. in the River District!
River District Park is a brand new community space with a basketball court nd other amenities such as a built-in ng pong table and futsal court.
In September, two large, winged sculptures were installed in the River District on Richards Blvd at 12th St. Created by artist Vicki Scuri, the works are part of the City of Sacramento's metamorphosis-themed public art project The sculptures join seven new murals that were painted throughout the 12st Street corridor The project was funded through the US Dept of Housing and Urban Development (HUD) Choice Neighborhood Initiative, in a partnership with Sacramento Housing Redevelopment Agency (SHRA)
rds Blvd Office Complex topped cramento Business Journal's 2022 k of Lists construction projects wntown) ranked by estimated ruction cost. At $940 million, the t includes 1.25 million square feet ffice space with four towers, a g structure, three-story walkway ween both north towers and a nd-level timber bridge; includes lic open space and walkways.
Recently Completed Under Construction Proposed
Summary on following page
The River District is transforming from a primarily industrial and commercial distribution center to a vibrant, mixed-use neighborhood. The most visible aspect of this change is the growing residential market.
3,302
3,302 Apartmentunitsexisting, underconstruction, or proposedwithintheRiver District
Large lots and warehouses are still plentiful in the River District and are being repurposed for modern uses. From commercial kitchens to sports facilities, these abundant spaces are perfect for creative businesses, and are also ripe for redevelopment and new construction.
Founded in 1910 as the California Almond Grower's Exchange, Blue Diamond Growers is the world's largest tree nut processing and marketing company With 968 full time employees in Sacramento County, the company ' s revenue was $1 6 billion in 2022 In December, Kai Bockmann was announced the company ' s new CEO
The Woods is an event center, a rental space, and an artists' studio space Each of the studio spaces come with fully secured 24/7 usage, granting access to the shared kitchenette, common areas, photo/video studio, and concert yard, available for events to tenants and members
Situated ten miles away from Sacramento International Airport and just blocks from Old Sacramento, Capitol Mall, DOCO and Golden 1 Center, The River District's central location is the ideal hub for those visiting the region. Our tourism and hospitality sector continues to grow with the announcement of the new Caption by Hyatt hotel.
The River District is currently served by SacRT bus lines 11 and 33; two SmaRT Ride stops at SMUD MoSAC and Mirasol Village; and the Green Line, Township 9 light rail station. In Q2 2023, groundbreaking is expected on the new Dos Rios Light Rail Station, which will bring Blue Line service to the River District’s east end
9
There are currently 9 hotels in the River District
805
There are currently 805 hotels rooms in the River District
Source: Visit Sacramento
27
2022 saw a nearly 27% increase in air traffic at SMF over 2021
Sacramento International Airport (SMF) was named the top midsize airport in the nation according to the Wall Street Journal's 2022 Airport Rankings. SMF ranked highest among all 50 airports surveyed in the reliability category and also ranked high in arrival and departure times, low flight cancellations, quick taxi and security clearance times, and a max walking distance of only 1,213 feet In a sign of continued growth, passenger totals were up for both Q4 and 2022
Source: Sacramento County Dept of Airports
"A five-story, 201-key hotel, one of the first Caption by Hyatt locations in the U.S., is planned for the south end of the Township Nine infill project in Sacramento. A new state office complex on the south side of Richards Boulevard can be seen in the background of this rendering "
From the Sacramento Business Journal
The Sacramento Tree Foundation will break ground this spring on an extraordinary new cherry blossom park located on the Sacramento River at Robert T. Matsui Waterfront Park. The 1.5 acre Hanami Line will include 100 'pink flair' ornamental cherry trees, an iconic lighted sculpture, seating, unique paved walkways, and four separate bosques, or mini forests. The project honors the rich, and bittersweet, history of Japanese immigrants and their descendants in Sacramento
First announced at the River District's November 2022 board meeting, American River One is a proposal for 826 market-rate apartment units, 325 parking spaces, and 4,570 sq ft of retail and restaurant space. The project consists of four towers ranging from 11 to 18 floors on two parcels formerly occupied by restaurants Hungry Hunter and The Rusty Duck. Designed by LPA Design Studio, Sacramento-based IM Investments is the project developer.
Located immediately south of the River District, the Union Pacific Railyards once served as the western terminus of the 1860s Transcontinental Railroad. Now, the site is being transformed into a dynamic, urban mixed-use hub for residents, workers, and visitors The 244-acre infill development is years in the making and will soon see the completion of its first three projects.
Source: The River District; railyards com
Private security patrols of the River District are provided through a contract with Sacramento Protective Services, with support from the City of Sacramento. Cleaning and Maintenance services are provided by our in-house Public Space Team, a rehabilitation work program employing 6 full time crew members.
Sources: The River District, Sacramento Protective Services
The River District's Clean & Safe Team is an innovative work program that offers employment, training, and life skills coaching to individuals who are currently or formerly unhoused and often recovering from addiction. The team performs litter abatement, outreach to encampments, landscaping services, and general maintenance services within the PBID boundaries.
The River District's programs are provided directly to assessed parcels above and beyond those currently provided by the City of Sacramento and other public agencies. Service levels to individual parcels are based on the amount paid into the District. Financial oversight is provided by the Executive Director and the Board of Directors.
TOTAL: $856,890.00
TOTAL: $1,326,519.00
23.3%
*Funding not utilized in the current year has been saved for on-going projects, necessary administrative processes, and improvement projects
The River District is a private, nonprofit 501(c)(6) business association charged with managing and promoting programs to strengthen the economic and cultural well-being of the area.
The 830-acre Property and Business Improvement District (PBID) was established in 1999 by a broad-based coalition of public and private property owners. Managed by The River District, the PBID is a special benefit assessment that supports enhanced services.
The PBID was approved for a ten-year term in 2014. The 2015-2024 Management District Plan outlines three categories of services to be provided by the PBID: public safety and maintenance; economic development; and planning, advocacy and physical improvements The services and programs provided by the PBID are above and beyond those provided by the City and County of Sacramento
Location: Approximately 830 acres bounded roughly by the American River to the north; Sacramento River to the west; Union Pacific rail berm and C/D streets to the south; and 27th Street to the east
Activities: Community Service Initiatives provide daily private security patrol, weekday trash abatement and on-call graffiti removal Economic Development activities convey a positive image for the area assisting to attract new jobs, businesses and investment resulting in an improved marketability and regional profile for the District. Transportation/Public Projects/Infrastructure Advocacy and Planning to advance the design and implementation of new roadway, transit, utility and streetscape projects.
Administration of District programs and activities is provided by The River District professional staff and Board of Directors.
Greta Lacin, President, Lacin Family Trust
Ryan Loofbourrow, Vice President, Sutter Health
Kevin Smith, Treasurer, 29th Street Capital
David Padgham, Secretary, Separovich/Domich Real Estate
Gina Albanese, First Pointe Management Group
George Bernabe, Blue Diamond Growers
Mark Dutrow, US Glass
Ernie Gallardo, Meadows Asset Management
Steve Johns, SMUD
Harris Liu, McDonald's
Ahmed Hamdy, MatriScope Engineering Laboratories, Inc
Lisa Nava, County Supervisor Serna - D1
Josh Kohlenbrener, Bauen Capital
Ryan Robinett, ZGF Architects LLP
Advisory Members
Bud Applegate, Applegate Properties
Susan Crane, The Party Concierge
Steve Goodwin, FTEnet
Devin Strecker, LPM, Executive Director devin@riverdistrict net
Chris Evans, Public Space Manager cevans@riverdistrict.net
Cristina Navarro, Program Manager cristina@riverdistrict net
IEDC Support
Jennifer Harris, Program Assistant bcl@riverdistrict net
Maurice Scott, Business Community Liaison maurice@riverdistrict net
Clean & Safe Team
Shawna Bowman, Jesse Yniguez, Walter Mullins, Carlos Rodriguez, Carl Rubalcava, Tim Hargis
This report was composed by Devin Strecker, LPM Photography by Kent Lacin and Devin Strecker Copy editing by Cristina Navarro If you have inquiries related to the data and information presented in this document, please email info@riverdistrict.net.
SOURCES:
The River District; CoStar, costar com; Sacramento County Department of Airports, Sacramento Regional Transit, Visit Sacramento