Abstract
This Master’s Project was prepared to analyze the feasibility of the historic PG&E Power Station building and surrounding property into a regional science center located in Sacramento, California. The iconic and historic building has been siting vacant for over two decades; however, with its high visibility and ideal location to Downtown Sacramento and the future Railyard development, the blighted site has huge potential to not only revitalize the riverfront and River District neighborhood, but also assist in furthering the education of the local science-literate workforce and community. Assuming the role of a developer, I collected background information on the site’s history, proposed scope of work, and analyzed the site’s permits and environmental review. In addition, I evaluated several other feasibility studies done on other science centers, conducted a market study, and generated an operating pro forma. Lastly, I researched possible funding and financing for the development and construction of the Project. Although California redevelopment-funding opportunities are no longer a way to finance capital improvement projects in blighted neighborhoods, I have concluded that this Project is feasible under a two-phased financial and construction approach. Assimilation of this approach by the City of Sacramento could potentially allow an undeveloped, dilapidated historical site to transform into a valuable multi-county community educational science center resource.