Possible Railyards Sale Could Nearly Double Downtown Sacramento's Size

SACRAMENTO (CBS13) — It's one of the largest pieces of undeveloped land in any downtown in the country. Now, there is optimism something may finally be built in Sacramento.

"I think it's always good to one whose heart is really in it, and I know that will be the case with Larry Kelly," said Sacramento City Councilman Steve Cohn.

Kelly, who build Stanford Ranch in Rocklin and converted most of McClellan Air Force base to a business park, is set to purchase most of the railyards property.

The railyards plot spans 240 acres and is mostly dirt and a few old train warehouses today. But once fully developed, it would just about double the size of downtown Sacramento.

"It has such great potential, because of the location, the historic buildings, the transit center that's there. It's a tremendous property," said Cohn.

Toxic waste at the site stalled most development in the past, but Kelly was able to navigate through similar issues at McClellan.

Union Pacific is responsible for most of the cleanup, but even when the soil is ready, construction would still be several years away.