0820_AUG Comstock's Magazine 0820 August | Page 72

Construction & development
build-out time frame for Metro Air Park
is 25-30 years. According to the Metro
Air Park land use plans, zones within the
park include about 830 acres for manufacturing,
distribution and airport related
uses; a research and development area of
162 acres for laboratories and high-tech
uses; and a commercial zone of 450
acres for retail, hotels and offices.
NEW ACCESS, NEW INITIATIVES
Metro Air Park is situated along Interstate
5 just east of Sacramento International Airport,
northwest of downtown Sacramento,
but it’s not accessible from I-5. That will
soon change with a long-planned freeway
interchange now under construction that
will add a south entrance. It will link I-5 and
Metro Air Parkway, the park’s north-south
thoroughfare, providing access to the
park’s commercial zone. Security Paving
Company, the general contractor for the
interchange construction, began the project
in 2019 and plans to complete it later
this year.
“That’s our front door, and interchange
construction is stirring interest in the whole
park,” says Ramos. “Even though the large
e-commerce and distribution buildings are
primarily serviced by Elkhorn Boulevard
and Elverta Road, which already have freeway
interchanges, our commercial zone
will rely on the new interchange. It’s been a
big shot in the arm.”
Infrastructure has been integral to
Metro Air Park planning. “We envisioned
large distribution centers, backbone
infrastructure, sustainable-energy technology
and high-data capacity from the
start,” says Gerry Kamilos, who was the
first managing director of Metro Air Park.
“Distribution centers demand high-data
capacity and velocity. Also, many operate
24 hours a day, and as California sees more
brownouts, sustainable and backup energy
systems become more important. Metro
Air Park was ahead of its time, and that
time has come.”
To make the park even more competitive,
Metro Air Park worked with the
Sacramento County Board of Supervisors
to restructure its finance plan, including
reduced fees for future infrastructure funding.
The board also approved a fee-credit
reimbursement component that allows
reimbursement for areas of the park that
must begin infrastructure early to be able
to build, helping incentivize construction.
“The new finance plan makes the
project more economically competitive,”
says Kevin Ramos, chief investment officer
for Buzz Oates, a major Metro Air Park
property owner. “Of a total $200 million
of park infrastructure, about $100 million
is already done, including streets, drainage
and sewer systems. We were able to value
engineer the future infrastructure, lowering
the cost of future improvements, thus
lowering financing fees. Metro Air Park
fees were about 50 percent higher than
competing areas in Northern California but
are now only about 20 percent higher.”
72 comstocksmag.com | August 2020