The Bridge District offers many recreational amenities including yoga on the Mill Street Pier, community events, live music, Rivercats baseball games, and more.
Source: Credit to The Bridge District, West Sacramento, CA
| Project Name | The Bridge District, CA |
|---|---|
| Location | West Sacramento, CA |
| Project Sponsor / Borrower | 22 property owners, City IFD Formation, property owner formed community financing district |
| Program Areas |
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| Value Capture Techniques | Development Impact Fees / Mobility Fees,
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| Mode | Multi Modals: Local Road, Parking, Pedestrian / Bicycle /Transit |
| Description | The Bridge District is a waterfront-oriented, urban mixed-use district located along the West Sacramento side of the Sacramento River. It is adjacent to downtown Sacramento and can provide jobs and new housing for West Sacramento residents. The District construction began in June 2010 and its infrastructure is sized to a maximum buildout potential of 12.5M ft2 of residential (5,210 units) and commercial development (7.29M ft2). The project totals 188 acres from the Tower Bridge Gateway on the north and extends south of Hwy 50 to 15th Street. The Sacramento River forms the east boundary with Raley Field on the north. 6 residential projects are complete one is in planning and a large riverfront beer garden/food/event pavilion,3 large public art installations and a public pier are completed The Bridge District. The area was proposed for redevelopment from industrial uses and vacant parcels to a high-density mixed-use river-oriented development. The District roadways and roadway frontage zones were designed to support pedestrian, transit, and bicycle mobility and make it a priority to create a walkable pedestrian environment. An aspect of the Bridge District Specific Plan included a requirement for developers to finance transit and city funding commitments to shared parking facilities, reduced parking , unbundled parking and employers and developers to provide employers with information about basic commuting alternatives, parking and biking facilities, services, subsidies, special incentives, and more. |
| Cost | $62,032,166.00
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| Funding Sources | The Bridge District received over $62M in funding from the following sources:
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| Project Delivery / Contract Method | Public-Private Partnership, High-Density Mixed-Used Development |
| Private Partner | Multiple private property owners including River Cats Baseball, River Road Venture, Smart Growth Investors, Bridge District Riverfront LLC, Bridge Housing, Jamboree Housing, Clark Pacific, Ramos Familty |
| Project Advisors / Consultants |
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| Lenders | N/A |
| Duration / Status | Construction began in June 2010 and the District continues to add to its catalog of commercial, residential, and recreational development. |
| Financial Status / Financial Performance | A community facilities district (CFD) was established for the Bridge District, which incorporates incentives for developers to achieve the City of West Sacramento’s density targets. The CFD Special Tax Formula contained features that incorporated an on-going annual special tax to support CFD bond sales and one-time special taxes to provide in lieu impact fee payments and pay-as-you-go revenues to fund infrastructure that otherwise would be funded by development impact fees tax increment. California’s Infrastructure Financing District One was formed enabling the City to capture tax increment revenues from assessed value growth within the district. New residential and public facilities, such as features of the riverfront park have commenced construction. |
| Innovations | Use various Value Capture Techniques to advance Bridge District Development Reconstruction of Tower Bridge Gateway
Riverfront Promenade Path and Plaza
Water pump station and water tank
Jerome D. Barry Park
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| Related Links / Articles |
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| Contacts | Katy Jacobson Economic Development and Housing Director (916)-617-4535 katyj@cityofwestsacramento.org |
