Aggie Square Development In Sacramento Spurs Other Projects

SACRAMENTO (CBS13) -- We are just months away from construction on the $1 billion Aggie Square development linked to the UC Davis Medical Center.

It's a project that's drawing other developers to the region.

Matthew Ridgeway and Aaron Anderson own Purple Pig Eats across the street on Stockton Boulevard.

"We both had our eyes on this corner for a while. It was kind of an awesome opportunity that presented itself, so we jumped in as soon as possible," Ridgeway said.

They opened right as the Aggie Square development was announced last year.

"It was one of the motivators for us, for sure," he said.

The mixed-use innovation district will add 1.2 million square-feet of research, wet labs, commercial space and housing.

Doug Woodruff with Wexford Science & Technology is overseeing the project.

"The goal of this is to advance a lot of that research but also to bring into the market—companies and capital that want to invest in that research to make it commercialized," Woodruff said.

Several key tenants have already been identified and groundbreaking is expected in spring of next year, with a projected completion date of late 2024.

"We are anticipating in January a pretty big burst in business. We have a solid following of contractors already," said Ridgeway.

Building on that, two new apartment buildings will go up on vacant lots a little bit up the road between 9th and 10th avenues. They'll house 230 units, including ten for lower-income households.

"It's obviously going to bring a lot of activity coming in that wasn't here before," said Anderson, who lives a few blocks from there.

Anderson is glad to see the City of Sacramento and the university offering $50 million in incentives to make it all happen.

The developer says Sacramento is becoming more sought after.

"Where the cost of living is better, where there is more housing availability, where at the same time you have the same level of scientific expertise. We really feel it's a great opportunity," Woodruff said.

But this goes beyond restaurants and retail.

"We will probably create somewhere between 3,000 new jobs," Woodruff said. "Somewhere in the neighborhood of 1000 of those will not require a four-year college degree."

Developers working now to bring in high school students to train them, bring them into the workforce and keep them here.

"And that will encourage good things to happen in the area," said Anderson.

It'll take a few years, but the job projections have them hungry for more.

"That's a lot of burgers. Hopefully we'll be able to keep up with it," Ridgeway said.