8200 Elk Grove Blvd
Elk Grove, CA 95757
Project Elevate · Land For Sale
·
20.45 AC
INVESTMENT HIGHLIGHTS
- 20 Acre City Defining Mixed-Use Development Opportunity in Elk Grove, CA
- Proposals Should Include Retail: Up to 100,000 SF of restaurants, retail, and entertainment
- Proposals Should Include Hospitality: One hotel
- Proposals Should Include Multi-Family Residential: ± 680 units
- Proposals Should Include Office: Up to 120,000 SF of office with opportunities for more
EXECUTIVE SUMMARY
Project Elevate will bring a Midtown look and feel to Elk Grove with modern architecture, five to seven story buildings, a vertically integrated mix of uses, and dynamic public spaces. This is a transit ready infill project that is bold and visionary and unlike any other in the Sacramento region. It will “elevate” the quality of space and amenities and bring an urban sensibility to Elk Grove.
The development team of Hines, Gensler, and TCA bring a rich history of delivering world-class mixed use development projects around the globe, including West Edge in Los Angeles, CA, City Center DC in Washington, DC, and Riverwalk in San Diego, CA.
Project Elevate concept design plans include:
35,000 square feet of retail and restaurants26,000-square-foot specialty grocer 97,000 square feet of public plaza, park, and paseo space865 apartment units, including 130 affordable units78,000 square feet of office100-room hotelTwo parking structures totaling 1,700 spaces
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Lot Size | 20.45 AC |
Project Elevate is a 20-acre gross piece of land zoned for a mixed-use residential retail/office/hospitality development located in the rapidly evolving economic epicenter of Elk Grove at the corner of Elk Grove Blvd and Big Horn Blvd.
DESCRIPTION
Project Elevate has a prime location next to District56, a 56 acre regional park / community complex that includes an aquatic center, event center, future library/performing arts center, cafe, and senior center. The Project is also surrounded by an array of Elk Grove’s best retail amenities including: Costco, Nugget Market, Trader Joe’s, BAD Bakers, Starbucks, Pete’s Coffee, and The Ridge retail center. Together, these amenities provide the foundation for what the City of Elk Grove envisions to be the ultimate live/work destination. They want Project Elevate to provide an experience that attracts visitors from all over the region including Lodi, Galt, the City of Sacramento and even Roseville and Folsom. It will be the epicenter of this economic and recreational hub and will provide an experience that redefines the city’s brand. Developers and development teams are encouraged to submit proposals for the purchase and development of Project Elevate by April 30, 2022. Interested buyers should review the Offering Memorandum for basic renderings and site plans that provide guidance as to the architectural design standards and branding the City seeks. The goal is to create a high-density residential environment where residents will be surrounded by regional, organically grown retail and office businesses that are easily walkable. Renowned for an award winning school district, a great quality of life, a burgeoning historical district, and first-rate parks, Elk Grove has a prosperous business community that boasts a diversity of shops, services, and promising careers. Currently, Elk Grove is home to 3,000 businesses and nearly 29,000 employees contribute to the service and economical growth of the Elk Grove Community. There are an estimated 53,618 households within the city limits. The average household income is $93,780. By 2023 it is estimated there will be 181,050 people living in Elk Grove. Elk Grove is a family-oriented, diverse community with one of the largest growth markets in the country due to its affordable, superior quality of life and strong employment base. Major corporations like Kubota, Apple, Amazon, AllData, and the State of California call Elk Grove home. Other major employers located in Elk Grove include Dignity Health, Sutter Health, Kaiser Permanente, and the Elk Grove Unified School District. The City of Elk Grove continues to be one of the strongest submarkets in the Greater Sacramento Region. Elk Grove Boulevard is one of the trade area’s primary east-west traffic corridors. Project Elevate is visible to over 140,000 cars per day. The adjacent South Laguna area, south of Elk Grove Boulevard, is one of the largest new area of residential development in Sacramento County.
