SACRAMENTO-PCCP LLC has provided a $41-million full recourse senior loan to Petrovich Development Co. to refinance an existing senior loan and to provide future funding for the completion of infrastructure at Curtis Park Village. Curtis Park Village is a $250-million mixed-use development comprised of 71 acres of vacant land that is currently entitled for 181 single family homes, 334 multifamily units, three commercial sites, open space, parks and public property.
The land is an infill location between Land Park and Curtis Park, two 80-year-old legacy neighborhoods that are the most sought after, high-end traditional neighborhoods in the City of Sacramento. Curtis Park Village is located at the intersection of Sutterville Road and 24th Street and is directly adjacent to Sacramento City College and the 130-year-old Children's Home. The land was a former Western Pacific rail yard and will be served by light rail via an $11 million pedestrian and bicycle bridge now under construction.
In 2003 the site was acquired by Petrovich Development from the Union Pacific Railroad who had since purchased the Western Pacific rail yard. Petrovich Development Co. has expended more than $30 million over the past decade to clean up and entitle the site for the planned development. Recently the firm commenced the Phase I infrastructure construction that is expected to be completed by April of 2014.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
