Rail Relocation Project Jump-Starts Construction at The Railyards
Two projects have been given the go-ahead at The Railyards in downtown Sacramento.
Construction at the 240-acre redevelopment site has been on hold since the previous developer, Thomas Enterprises, Newnan, Ga., defaulted on a $187 million loan, which forced the property into foreclosure late last year. The new developer, I.A. Sacramento Holdings LLC, a subsidiary of Oak Brook, Ill.-based Inland American Real Estate Trust Inc., Thomas Enterprises’ original lender, is currently renegotiating contracts with the city for future projects.