LRE & Companies and American Hospitality Services Unveil New Mixed-Use Project in Thriving Sacramento, CA Metro Area County
LRE & Companies, a full spectrum real estate development, asset manager, construction, and hotel management company, and American Hospitality Services, Inc., a development and hotel management company acting as sponsor, operating partner, and asset manager of strategic commercial real estate assets, have unveiled the plans for Roseville Junction, a new mixed-use project in Placer County, CA, one of the state’s fastest-growing counties.
“Without a doubt, Roseville Junction is in a class of its own,” said Akki Patel, CEO of LRE & Companies. “Nothing like this project has been done before in Placer County, let alone the Sacramento area. What we’re developing is truly remarkable and a game-changer for the community. We’re proud to be part of Roseville Junction and a contributor to the future success of the Roseville community.”
Roseville Junction will have two select-service hotels, three restaurants, an outdoor gathering space, and an entertainment and sports complex. The hotels and restaurants are currently under negotiation. To bring the community together in an outdoor gathering space through food and drink, Social Connection will offer a variety of food and beverage options, including a well-known brewery serving beer, wine, and pizza. It will offer the most prominent outdoor gathering space for miles and be family and pet friendly to appeal to the small community. The entertainment and sports complex will have a bocce ball court and 10 pickleball courts. It will also offer comfort food items such as wood-fired Neapolitan pizzas, Mexico City-inspired tacos, burgers, and more. There will also be ordering apps where guests can place food and beverage orders from their phones and have their food delivered by food ambassadors moving throughout the property. Social Connection will sit on more than 58,700 square feet.
Located in Northern California, Placer County has six incorporated cities and towns with a total area of 1,506 square miles of diverse geography and a population of 390,000 and 13,000 businesses. The county has more than one million acres of national forest land filled with trails, natural lakes, rivers, and streams. It is also a year-round destination for winter and summer, attracting more than one million visitors each year.
The site for Roseville Junction is 20 minutes north of Sacramento, CA, and adjacent to Highway 65 near Interstate 80, making it accessible to the entire Placer County region. It’s also near new retail and shopping amenities, including Roseville Galleria in Roseville, CA, the second-largest mall in northern California. Roseville is also near many of the area’s vineyards and wineries.
“When we first assed the site, the first thing we noticed is its outstanding location,” said Victor Chiang, vice president of development at LRE & Companies. “It’s centrally situated amongst so much amazing retail, including Westfield Galleria, The Fountains, and Creekside Town Center. With so much retail surrounding us, there’s plenty of opportunity to attract shoppers from all over. Roseville Junction is the perfect place for them to connect and gather, enjoy the California sunshine, grab a bite to eat, and raise a glass.”
The Roseville submarket has demonstrated strong demographic fundamentals and a rapidly expanding population and attracted several new major employers, many of which are in the healthcare industry. Other top industry segments include public administration, construction, education services, finance and insurance, and computer and electronic products.
“With more than 135,000 people, Roseville is the most populous city in Placer County, making it the ideal location for a new mixed-use project,” said Rohit Ranchhod, president and CEO of American Hospitality Services. “With a Mediterranean climate and more than 250 days of sunshine yearly, Roseville is home to more than 80 parks and recreation facilities. The city is also just 90 minutes away from Lake Tahoe, near endless winter and water sports, and numerous hiking and mountain biking trails.”
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About LRE & Companies
The LRE & Co. is a family organization in real estate development, construction, and food and beverage businesses since 1999. It has been present in major markets throughout northern California and northwest Nevada. It is an ever-growing organization consisting of a group of diverse and dynamic people who strive for excellence. LRE & Co. & affiliates’ food and beverage arm comprise franchise restaurants and master development agreements for national franchises. The commercial real estate arm comprises investments in commercial land space and partnerships with major fast casual/QSR brands, Marriott, Hilton & Hyatt groups of hotels. LRE & Co. has a diverse portfolio of office buildings, retail properties, multi-family holdings as well as hospitality. Over the last 15 years, LRE & Co. has leveraged its experience in the real estate space, leading to the inception of the real estate Investment and development arm of the company. Several projects are underway or completed in a very short span due to prior knowledge of the commercial space, including AC by Marriott in Sacramento downtown, Courtyard by Marriott in Woodland, H2 Suites by Hilton & multi-family development in Sacramento
About American Hospitality Services, Inc.
American Hospitality Services Inc. (AHSI) is a full spectrum development company acting as sponsor, operating partner, and asset manager of commercial real estate. As a company based in Sacramento, AHSI focuses its operations on Northern California. AHSI success comes from relationship-based development coupled with world class operational standards.