The Abridged version:
- Meta has dedicated $50 million for Sacramento State’s downtown redevelopment project.
- The money will be used for demolition work on three state-owned properties near Capitol Mall.
- The university is still planning specifics of the project, but features could include housing and an artificial intelligence center.
Sacramento State’s downtown redevelopment now has tens of millions in tech cash behind it.
In a press release issued Thursday, Gov. Gavin Newsom’s office announced that tech giant Meta has pledged $50 million toward the project, kickstarting demolition work on three state-owned properties near Capitol Mall.
“This commitment from Meta, combined with the vision from Sacramento State, will bring much-needed affordable student housing, educational space, and economic activity to the Capitol Mall,” Government Operations Agency Secretary Nick Maduros said in the release.
An expanded downtown presence
Last year, Sacramento State unveiled plans for a downtown campus that would expand the school’s footprint and provide an economic boost to a struggling neighborhood.
The university is still ironing out specifics, but potential features include affordable housing, a new school of public affairs and an artificial intelligence center that would support a bachelor’s degree in AI Business Management.
“This project positions Sacramento State as a flagship university, one that embodies economic vitality, expands access to opportunity, and integrates academic excellence with innovation, housing, and community in the heart of California’s capital,” said Sacramento State President Luke Wood.
Sign Up for the Morning Newsletter
The Abridged morning newsletter lands in your inbox every weekday morning with the latest news from the Sacramento region.
More pieces need to fall into place
The project has been met with support locally.
“It helps with housing, helps with education, helps our CSU, helps with our workforce development. It just checks so many boxes for us,” Sen. Angelique Ashby, a Democrat who represents Sacramento, said.
Ashby said that the infusion of cash from Meta is particularly helpful for the project because it can be used for demolition.
“There are some components to construction projects that are really hard to fund, and demolition is one of them,” she said. “What’s really great about this starter funding is that that was the piece that would have been the hardest to find.”
As far as the rest of the project goes, there are multiple sources of funding that officials can pursue, despite the difficult landscape.
“I wish we had a better (state) budget, because projects like this fulfill everything everyone’s looking for. But we’ll keep working on it, and it might be a little slower than it would have been in more of an up-ticked economy, but there are resources available for housing and resources available for CSUs,” she said.
Ashby said she thinks the project will be less difficult to fund now that it has the starting dollars.
The investment from Meta represents a financial boost to the project, but it will likely be some time before any ribbons are cut. Officials still need to design the project, conduct building testing and launch the environmental review process.
Daniel Hennessy joins Abridged from the California Local News Fellowship. He’s a reporter covering Yolo County.