Wednesday, April 12, 2006

My Retirement Money At Work

According to the major Sacramento newspaper:

West Sacramento has landed an investment powerhouse to anchor the city's ambitious waterfront development.

The California State Teachers' Retirement System, the nation's second largest public pension fund, announced Tuesday an agreement to build a $176 million to $186 million office tower for its headquarters at Raley's Landing.


I'm curious how this will improve my retirement.

Unveiled to CalSTRS employees Tuesday morning, the plan calls for building an environmentally oriented 14-story, steel-and-glass tower on 4.57 acres just north of the ziggurat, the pyramid-shaped Money Store building occupied by the Department of General Services.


Here's a picture of the area, looking roughly southeast. No image of the new building was included in the article.

2 comments:

Polski3 said...

Hey, STRS must be into riverfront properties.....My father-in-law in Portland, OR., sent me a note from a PDX business newspaper about an office building on the banks of the Williamette River that STRS bought......

"We" (STRS) also owns a place here in Imperial County called the "Slabs". Slabs refers to the cement foundations of the buildings from an old WWII military installation on the east side of the Salton Sea between the sea and the military bombing range. It is home to, shall we say, an ecletic group of people who set up camp there and live in everything from fancy motor homes to plywood shacks....all rent free. Of course, there are no water or sewage facilities there.... Our local, very undermanned sheriffs department avoids it unless they have to deal with a felony or go along with the DEA to raid the meth labs out there.

Wonder what else STRS is spending our retirement money on ?

Darren said...

That does not encourage me.