Uneasy Rhetoric

The Sacramento Business Journal is reporting that the Railyards sale is final. Thomas Enterprises will take posession of the land for development. This means they’ve worked out a deal with Union Pacific regarding, among other things, who will be responsible for the toxics in the Railyard (the BJ didn’t say who got what end of that deal).

The City will purchase a chunk of that land with a $30 million up-front payment and a $25 million loan from BofA, which will be backed by Measure A transportation sales tax money (because the land is being purchased for the dreamt-of transit center). I wouldn’t be too surprised to see that deal end up in court — but I don’t know the details of how Measure A works.

Still, this is a major step forward for what could well be the kick in the pants Sacramento needs to redevelop its urban core and a representative from Thomas Enterprises indicated construction could begin as early as late 2007. Which I’ll take to mean late 2009, but at least there is some optimism. Unfortunately, the initial construction will be centered on retail, including a big chain store, Bass Pro Shops.