Approvals Sought for 240-Acre Railyards Redevelopment

SACRAMENTO-An entity of Atlanta-based Thomas Enterprises has filed a development application with the City of Sacramento for the multi-billion redevelopment of Union Pacific’s Downtown railyards into a mixed-use urban village. The railyards are the birthplace of the transcontinental railroad. The redevelopment is said to be one of the largest urban infill opportunities in the nation.The Thomas Enterprises entity directing the project is Millennia Sacramento III LLC. Millennia Sacramento is in negotiations to acquire the historic railyards from Union Pacific. A source at Union Pacific tells GlobeSt.com the transaction should close on or about November 15, 2005.The development application proposes 10,000 housing units along with office, hotel, retail and entertainment properties. The development will be anchored by an intermodal transportation terminal, the renovated historic Central Shop buildings and the Railroad Technology Museum. The Central Shop buildings, once the largest railroad maintenance facility west of the Mississippi, will become a public marketplace. It may host a regional food market similar to San Francisco’s successful Ferry Building marketplace. The plan also includes an extension of 5th and 6th Streets over the relocated railroad tracks. The extension will connect the existing downtown to the railyards and the areas north and may feature housing and commercial uses. As part of the effort, Thomas Enterprises will open an office in Sacramento. Starting in July, he will serve as vice president of Thomas Enterprises and lead the development effort locally for the downtown Railyards project as well as other Thomas Enterprises’ projects throughout Northern California. Thomas Enterprises temporarily will be located in the Wells Fargo Center. It plans to establish its permanent Sacramento office at the Railyards at the beginning of 2006.