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December 08, 2015

Coming soon to the Cannery in Davis: Commercial development

Sacramento Business Journal

Ben van der Meer

Developers of the Cannery project in Davis this week will unveil plans for commercial development on 15 acres along Covell Boulevard.

The city's planning commission will hold a workshop on that portion of the project on Wednesday. Kevin Carson, Northern California division president for master developer The New Home Co., said the goal is to get commissioners familiar with its design concepts.

"We want the architecture that has the feel of the Cannery overall," he said. Carson said the area will have two components. The western side will be more light-industrial/office space development; the rest will have more neighborhood-focused retail, such as a grocery, pharmacy and coffee house.

In total, the project calls for 171,000 square feet of commercial development, spread over 22 buildings. Those buildings would be one or two stories, and both sides are arranged in a sideways horseshoe shape, with parking in the middle.

New Home Co. isn't building the commercial portions of the project. Carson said a company called Leeland Properties is in escrow to purchase the property and also will be involved in design discussions.

Kevin Sheehan of Kidder Mathews brokerage in Roseville said he's representing the buyer, which is set to close on the property next year. But he said he'd rather not comment on his client's plans, such as timing for development, until after the planning commission hearing.

For New Home Co.'s part, developing the retail side would benefit the first residents in the Cannery, set to move in next week.

So far, buyers have scooped up about 20 units in Heirloom, the detached townhomes in the project. Another six single-family homes, in a project called Sage, have also sold, Carson said.

Since home construction began in earnest in summer, weekly traffic by prospective buyers has been 90 to 100 people, he said. In many projects, 30 to 40 people is more typical, he said he'd point out. "To be open three to four months and still get that kind of traffic, we're very happy," he said.

For the full story, go to Sacramento Business Journal.

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