That’s the project to convert an old industrial area along the American River into 65-acres of homes, shops and businesses.
Much of the money to build it comes from state housing bonds approved by voters in 2006. And even though that money is on-hold right now because of the state budget crisis, Township 9 Developer Steve Goodwin says they’re pushing ahead.
“We’ve been assured by the folks at the Capitol that it’s not a matter of if those monies will flow to us ultimately but a matter of when. We think that it’s important to move it forward now so that when the market does return in a couple more years we’ll be poised to meet that market with a piece of property that’s ready to build.”
All totaled, Township 9 will cost around $2 billion to build and will take about 10-years to complete. It’s the second major central city development to break ground in the last two-months. The other being the Railyards, also just north of downtown.