With a six-month negotiation period approved one year ago, updates on Elk Grove's Project Elevate are scant



The city of Elk Grove is currently pursuing a couple of large projects. They include the relocation of the Sacramento Zoo and the development known as Project Elevate.


Located on 20 acres of taxpayer-owned property near the city's District56 facility, Project Elevate seeks the development of a multi-million mixed-use district. Last August, the Elk Grove City Council authorized city manager Jason Behrmann to enter an exclusive negotiating agreement (ENA) with Hines Interest.


The Houston-based Hines successfully bid to construct a financing and development plan. The ENA was for six months but could be extended. 


Since then, few details have been released aside from information posted on the city's website and an online brochure (see first video below). There was an update last February, six months after the ENA approval. 


Elk Grove economic development manager Darrell Doan offered that information. Although his February presentation was lengthy, as seen in the second video below, Doan spent less than one minute updating the project.


Since last year, information surfaced that Pappas Investments has started a shopping center adjacent to Project Elevate called The Village. Notwithstanding objections from a small business owner that could be affected by the development, which is likely to include national retailers, has Pappas secured prime tenants that have, at least temporarily, chilled interest in Project Elevate? 


During his presentation last August, when the city council approved the ENA, Doan offered an aggressive timetable. Doan told taxpayers and the city council that construction on the first phase could begin by April 2024.  


While the 20 acres will undoubtedly be developed by Hines or some other entity, given the absence of public updates and high-interest rates, unless the process is expedited, Doan's schedule is caput. 


Regardless of when Project Elevate launches, it will affect other less desirable shopping centers in Elk Grove. To paraphrase, the Tower of Power's There Only So Much Oil In The Ground, there only so much money in your wallet!  





   
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1 comment

D.J. Blutarsky said...

Elk Grove needs to make Project Elevate count! I want to see Elevate elevate!

The tallest building in Sacramento is the Wells Fargo Center (400 Capitol Mall) standing at 423 feet. That building coincidentally is owned by Hines Development, who is also contracted to design our project. Come on Hines, reach for stars and let's outdo the Wells Fargo building. Put Elk Grove and our leaders on the map!

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