Paul Petrovich

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Location
825 K Street, Sacramento, CA 95814
Phone
916.442.4600
Website
[WWW]http://www.petrovichdevelopment.com/

Paul Petrovich is a major developer in the Sacramento and Davis area. He's the President of Petrovich Development Company, which the [sacramento]Sacramento Business Journal has ranked as the largest developer in the Sacramento region over the past two years and in the top five for the past six years. In this time the Business Journal has tracked more than $1 billion in completed projects by this firm. In 11 years, Petrovich has developed 30 projects totaling 4 million square feet.

Most of the properties are not sold, "because they are all extraordinary locations after they have been assembled and leased on a long-term basis," Petrovich says on his website. Petrovich developments are typically built with brick block, not stucco, which can clearly be seen at Oakshade Town Center, R Street Market - a Safeway anchored urban shopping center in downtown Sacramento with housing built above the retail space, Highland Crossing Shopping Center (another Safeway anchored project along with Longs Drug Store) in Roseville and in 10 other Rite Aid developments. Petrovich has built 14 stand alone and in-line drug stores for both Rite Aid and Walgreen's. He was the preferred developer for Rite Aid for nine years.

His local projects in Davis include Oakshade Town Center anchored by Safeway, OfficeMax and Rite Aid in south Davis. Petrovich sold Oakshade Town Center to Regency Centers in 2011 for $35 million. PDC also developed and owns Oakshade Commons, an 85,000 square foot mixed use project consisting of 42 two story town house units consisting of 4 bedrooms and 4 bathrooms primarily leased to students across the street from Oakshade Town Center. Other developments include Merryhill School adjacent to Oakshade Commons, the Rite Aid at Anderson and Russell across from the UC Davis campus. In the early 1980s, he was responsible for renovating University Mall converting what was Lawrence Department store into many smaller shops, some of which are still in existence. He also built and donated to the City of Davis a large parking lot adjacent to Merryhill School for use by visitors of Walnut Park. PDC has also constructed over 1,500 feet of class A bike paths and donated enough land to develop 15 units of affordable housing in south Davis at Cowell and Drummond. He also held an option to sublease the Ralph's former location at East 8th near Pole Line where he almost located Trader Joes. After Trader Joes turned it down, the property was relinquished back to Ralph's and it was subsequently leased to Dollar Tree, a use PDC was told was unacceptable by the neighbors during his control.

In Woodland, PDC is currently developing the 550,000 square foot Costco, Target, Best Buy, Michaels, Pet Extreme anchored power center at Interstate 5 and County Road 102, an auto mall adjacent to that project and redeveloping the entrance to downtown Woodland with a $7 million Rite Aid (which will replace a shuttered Shell gas station). PDC is also cleaning up the ground water pollution caused by the service station. At Third and Main in Downtown Woodland (also a contaminated site) he is endeavoring to develop a sit down movie theater to revitalize the historic downtown, something that has proven to work in other small downtowns such as Livermore, Vacaville, Lodi, Petaluma and Modesto. Also in Woodland, PDC is redeveloping another blighted corner with a Rite Aid on the opposite end of Woodland's Main street where abandoned warehouses and a used car dealer operated.

Another notable project being developed by Petrovich Development Company is the revitalization of the 72 acre former Union Pacific highly contaminated rail yard wedged between two historic upscale neighborhoods, Curtis Park and Land Park adjacent to Sacramento City College. This massive $200 million development is an endeavor to mitigate over 300,000 tons of contaminated soil of which 1,400 rail cars containing approximately 120,000 tons has been transported to Utah for safe disposal in a specially designed rubber lined pit. Ground water remediation is also part of the clean up with total clean up costs exceeding $40 million for this nationally recognized Brownfield. Upon approval and completion, the project is proposed to consist of 180,000 square feet of retail (including an upscale neighborhood serving shopping center and a dinner theater showing first run movies with upscale food and adult beverages in 40 seat home theater like auditoriums), 130 single family homes and 40 brownstone designed after those found the Washington DC/Georgetown neighborhoods. The project will also have its own 7 acre park with an amphitheater and sports courts.

Many of Petrovich's projects include what he refers to as Private Art in Public Places. These pieces are usually made by a Denver artist, Seann Guerro who builds sculptures of horses, cowboys, eagles and other interesting figures out of recycled chrome bumpers. Four projects of Petrovich's have Veteran memorials, some more dramatic than others. Oakshade Town Center in Davis has a small memorial in front of Dos Coyotes that was dedicated with full military honors performed by the VFW. The latest memorial constructed features an eternal flame and large stone obelisks etched with famous quotes at a cost exceeding $250,000. To view a photo montage of this memorial put together by one of the subcontractors who worked on the project go to [WWW]http://www.photoshow.com/watch/mD5Ss8by

In 1997, Petrovich donated $250,000 to UCD for breast cancer research and became the angel investor in a start up biotech firm named SAGRES that opened its laboratory in Davis on the south end of Mace Ranch. The firm's goal was to map the human genome by reverse throughput technology using tumors from mice. The innovative process shortened the identification of the DNA makeup of tumors from one man/woman year to three weeks. The company was eventually bought out and merged with another biotech company for its technology in developing innovative drug therapy.

Like many large developers involved in major projects, Petrovich and his developments have been involved in several lawsuits:

Several Petrovich Development projects have been awarded for their innovative design and due to their infill nature. One such award was a first ever given by the Heart and Lung Association for developing a project that epitomized smart growth - the aforemetioned R Street Market project in downtown Sacramento. Petrovich has also been awarded Comstock's Vanguard Award for innovative and smart growth development. Petrovich serves on the Board of Directors for Hemisphere's, a charitable foundation focused on helping disadvantaged children and women. He also serves on the finance committee for the Sacramento Newman Center as their development and financial advisor to build a new church and community center to help foster students of the Catholic faith attending Sacramento State University. Paul Petrovich graduate from UCD in 1982 with a Bachelor of Science degree in Managerial and Agricultural Economics. He was also the starting pitcher for UCD's varsity baseball team and turned down two opportunities to play professional baseball. He is married to his first wife of 23 years and lives in Sacramento with his three children.

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2008-12-10 12:38:16   ATTENTION PAUL PETROVICH / PAUL S PETROVICH: use the talk page, it's at the top of the page. Communication is what sets us apart from savages. Blindly blanking will only result in people attempting to get you to participate... —StevenDaubert


2008-12-12 12:43:16   Wow! Based on the contents of this page, it appears that Paul Petrovitch is actually the second coming of Mahatma Ghandi, Franklin Roosevelt, and Jesus Christ all rolled into one. I was under the impression that he was a real estate developer. My bad. —aharjala

"People can do well by doing good" (Benjamin Franklin). Just because someone makes a good living in real estate, it does not mean they are bad people. Have you ever heard of an amoral teacher? Evangelist? Doctor? It matters not what the profession. You can have good and bad people doing great and horrible acts in all walks of life. Why can't someone in real estate use their ability to do good things and not "just" be a real estate developer? Open your mind "just" a little.


2013-10-30 10:25:59   Please change my contact info at the top of this page to: 825 K Street, Sacramento, CA 95814 916.442.4600

Thank you,

Paul —paulpetrovich

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