While a total estimate of the redevelopment project\u2019s cost has not been provided, such a significant construction project will likely cost hundreds of millions of dollars.<\/p>\n
Planning still underway<\/p>\n
Planning documents show<\/a> that school officials are contemplating building a parking structure, events center, \u201cone or more hotels,\u201d leasable office or lab space, and the performing arts venue, which would have rooftop views of the Capitol. Though school officials noted that the project may change during the planning process.<\/p>\n For additional funding, Wood said the university was looking at revenue bonds from the Cal State system that could support some of the aspects of this project that would make money, such as hotels, parking garages and event centers. Additionally, the university is looking to donors and private foundations for more ways to fund the project.<\/p>\n \u201cI would say we\u2019re off to a pretty darn good start,\u201d Wood said in an interview. \u201cWe\u2019ve got a lot of irons in the fire that I feel are going to translate in pretty short order to us being able to effectuate this vision.\u201d<\/p>\n Matsui said in an interview that investors are watching the project to see whether this development will take off.<\/p>\n \u201cI think this is beginning to be real to them,\u201d Matsui said. \u201cYou\u2019re going to see investors in Sacramento coming off the sidelines.\u201d<\/p>\n Gov. Gavin Newsom is hoping his return-to-office order for state employees, which was paused for one year last June, will help revitalize the area. Currently, most eligible state employees are required to work from government offices at least two days a week. The unpopular directive<\/a> has prompted protests from state workers, lawsuits from unions and a bill from California lawmakers.<\/a><\/p>\n Asked whether she supports Newsom\u2019s decision to call state workers back to offices four days a week, Matsui said face-to-face interactions are important, but the pandemic has shown us that some work can be done remotely. \u201cThere has to be a balance of that,\u201d she said.<\/p>\n The congresswoman noted that the Capitol campus will bring students and housing to the downtown area, in addition to the employees who work in the area.<\/p>\n \u201cI think the whole concern was not having enough traffic around here,\u201d she said, smiling, \u201cwe\u2019ll have plenty of traffic.\u201d<\/p>\n Related Stories from Sacramento Bee<\/p>\n
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