Curtis Park Village is approximately 70 acres of property located in Sacramento, CA. The Property is the former site of a Union Pacific Railroad yard and had significant contamination due its earlier uses as a maintenance yard as well as its use as a general rail facility. Renova acquired the property with a local developer and assumed responsibility for the remediation of the property and obtained an Environmental Liability Policy and a Remediation Stop Loss Policy that provides financial assurance and protection to current and future owners as well as tenants.
Renova worked with the neighborhood community and the City of Sacramento in the process to convert the property's zoning from heavy industrial to a mixed use that is primarily residential as well as smaller amounts of commercial and open space. The Company created value by managing the requisite environmental remediation, assisting in the rezoning and development planning, and then selling the property to the local development partner. Renova arranged to remediate the property to an unrestricted use standard before the beginning of construction on the property.