Sacramento region · Real estate
Larry Kelley
Founder and chairman, LDK Ventures; master developer of the Sacramento Railyards
The developer turning 244 acres of old rail yards north of downtown into a new neighborhood, hospital and stadium district.
Larry Kelley is the founder and chairman of LDK Ventures, the Sacramento company that is master developer of the Railyards, a 244-acre site just north of downtown that is zoned for up to 10,000 homes. He runs the company with his son, Denton Kelley, its president and CEO.
By the numbers
The data
Three Kelley projects, in acres
Source: LDK Ventures (team biography and Railyards project page).
Railyards homes, zoned and under way
Source: LDK Ventures, The Railyards project page.
The story of Larry Kelley
Kelley has worked in real estate for more than 40 years. He leads McClellan Park, a 3,000-acre business park at the former air base that employs more than 17,000 people, and Stanford Ranch, a 4,000-acre master-planned community home to more than 8,000 families.
Downtown Railyard Ventures, in which LDK is a partner, completed its purchase of the Railyards on Sept. 30, 2015, and the plan was fully approved in November 2016. The site now includes The A.J., with 345 apartments, and The Telegrapher, with 430, and is anchored by a Kaiser Permanente medical center set to open in 2029.
Sacramento Republic FC’s planned 20,000-seat stadium on a 31-acre Railyards site is expected to open by 2028, adding a sports and entertainment draw to the new neighborhood.
Milestones
- 2015Downtown Railyard Ventures completes the Railyards purchase (Sept. 30).
- 2016Railyards plan fully approved (November).
- 2019Kaiser Permanente closes on its hospital site.
- 2020Ground breaks on The A.J. (345 units).
- 2025Construction starts on The Telegrapher (430 units).
- 2028Republic FC stadium expected to open.
- 2029Kaiser Permanente medical center expected to open.
Companies and ventures
Lessons for business builders
- Big sites need patience: approval, anchors and infrastructure come before the first home.
- Anchor tenants such as a hospital and a stadium make the rest of a district possible.
- Bring the next generation in early; LDK is run by father and son.
Sources
- LDK Ventures: Larry Kelley
- LDK Ventures: The Railyards
- The Railyards: FAQs
- CapRadio: Railyards development (July 23, 2026)
Photo: LDK Ventures (ldkventures.com). Figures marked firm-reported come from the company; all others from the sources above, checked November 2026.
