Sacramento officials are cheering a decision by the California Public Employees’ Retirement System to build what would be the tallest tower in its hometown. But some inside Calpers’ boardroom are concerned the 550-foot project represents too much risk.
During a private meeting earlier this summer three Calpers directors voted against a new $550 million commitment to the proposed office-condominium-retail complex, according to people familiar with the situation. Calpers abandoned a previous development plan for the same site...
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