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Developer motivated to move quickly: For Thomas Enterprises, cleaning up rail site is good for business.
Byline: Chris Bowman
Jan. 23--The railroad operators took 20 years hauling away topsoil they polluted at Sacramento's historic downtown train yard.
Stan Thomas, the new owner of the 240-acre site, believes he can finish the last third of the job in just two years -- all the while proceeding with plans for urban villages, public markets, museums, entertainment complexes and more.
That would surpass by fivefold the pace under Union Pacific Corp. and its predecessor, Southern Pacific Transportation Co.
How can Thomas outrun the kings of rail? Because his motivations are more powerful than a locomotive, according to officials with his development company, Thomas Enterprises Inc. of Atlanta.
Thomas Enterprises is anxious to recoup cleanup expenses and the cost of the property purchase -- figures the company declines to disclose. The faster the cleanup, the sooner Thomas will get city approval for development. The sooner the company sells parcels to developers, the faster it can pay off loans and turn a profit.
"You have a clock ticking on you because you are paying interest, and because you want to be ready to develop when the market is ready," said Paul Petrovich, who is redeveloping the former railyard in Sacramento's Curtis Park neighborhood.
- Millennia Sacramento Files Development Application for Union Pacific Railyards...
- Press release article from: PR Newswire June 17, 2005 700+ words
Parent Company Thomas Enterprises Appoints Suheil Totah...entity controlled by Thomas Enterprises, Inc., today announced...Millennia Sacramento and Union Pacific to purchase this...controlling entity, Thomas Enterprises, will open its Northern...
- Millennia Sacramento to Acquire 240-Acre Union Pacific Railyards.
- Press release article from: Business Wire July 22, 2004 700+ words
...SACRAMENTO, Calif. -- Union Pacific Railroad Company...remains subject to Union Pacific board approval as...Stanley E. Thomas, of Thomas Enterprises, Inc., a major...team was selected by Union Pacific as the favored developer...
- Railyard sale picks up speed: Amid flurry of last-minute details, developer...
- News wire article from: Sacramento Bee (Sacramento, CA) December 28, 2006 700+ words
...Representatives of Thomas Enterprises, a Georgia...property from Union Pacific. Even after...Totah said Thomas Enterprises' agreement with Union Pacific to buy the railyard...the way for Thomas Enterprises to move forward...
- Drama, but no deal yet on railyard site: Developer hopes to close escrow today.
- News wire article from: Sacramento Bee (Sacramento, CA) December 29, 2006 700+ words
...With Thomas Enterprises facing a...land from Union Pacific, the past...based Union Pacific. Thomas Enterprises has not revealed...number that Thomas Enterprises said they...gap with Union Pacific," Hanneman...
- Westfield seeking to reverse approval of competing mall: Thomas Enterprises'...
- Magazine article from: San Diego Business Journal Mowad, Michelle October 27, 2008 700+ words
...project proposed by Georgia-based Thomas Enterprises. The project includes 950,000...Pala Road in its appeal, saying Thomas Enterprises failed to incorporate the extension...development for Oceanside, said Thomas Enterprises already granted an additional 10...
- Denton Wilde Sapte advises Thomas Enterprises.
- Magazine article from: Planning (UK) September 29, 2006 700+ words
...Sapte has advised American development firm Thomas Enterprises on its acquisition of London landmark Ten...of global insurance broker Willis Group. Thomas Enterprises will redevelop the building as a hotel.
- Retail developer Thomas has big plans for 1998. (Thomas Enterprises...
- Magazine article from: Atlanta Business Chronicle Crighton, Kathleen January 2, 1998 700+ words
Thomas Enterprises Inc., a developer of retail properties, got a shot in the arm...so dominate a market that competitors will fear to enter it. Thomas Enterprises recently developed a 24-screen complex at Southlake Mall and...
- Retail developer to put pavilions on selling blocks. (Thomas Enterprises Inc...
- Magazine article from: Atlanta Business Chronicle Lamm, Marcy July 24, 1998 700+ words
...estate portfolio on the block. Thomas, president of Thomas Enterprises Inc. in Smyrna, said he has hired Merrill Lynch and...about his plans in September or October. Thomas founded Thomas Enterprises in 1987. The 43-year-old Atlanta native grew up in...
- Hot wheels.(Logitech MOMO Racing Wheel, Saitek R220 Racing Wheel Saitek R440...
- Magazine article from: PC Magazine Labriola, Don November 8, 2005 700+ words
...com. GOOD/VERY GOOD R220: $80 list. VERY GOOD Thomas Enterprises TSW2 Cup PC MAGAZINE EDITORS' CHOICE The TSW2 is a rough...range from $290 to $1,003, depending on options. Thomas Enterprises Inc., www.thomas-superwheel.com. VERY GOOD...
- Tycoon opts for 'superluxury'.(Thomas Enterprises)(Brief article)
- Magazine article from: Estates Gazette September 23, 2006 700+ words
...Thomas on the acquisition, said the hotel would be "better than anything ever seen in the UK". Georgia-based Thomas Enterprises, set up in 1987, has developed more than 30m sq ft of mixed-use schemes with a value in excess of $5bn across...
