Thursday, August 20, 2015

Golden 1 Center Construction Photos

View from West Sacramento with arena cranes in the air.

Current work being done on the arena is installation of the second primary box truss at the arena high roof. Installation, bolting and welding of the arena high roof structure. Installation of high roof metal decking. Bolting and welding of steel frame exterior façade support “ladders.” Application of spray-applied fireproofing to steel. Mechanical, electrical, plumbing and fire protection overhead and wall rough-in. Interior concrete masonry (CMU) wall installation. Installation of interior metal stud wall framing. Installation of exterior façade metal panels and glazing at south side of Practice Facility. Installation of exterior façade metal panels and glazing at north side of arena. Installation of utility vaults for permanent power feed to arena. Source
Golden 1 Center Construction seen from the 12th floor of 555 Capitol Mall
Golden 1 Center 5th & L Street

Golden 1 Center 4th & L Street

Golden 1 Center 5th & L Street

Golden 1 Center Construction seen from the 12th floor of 555 Capitol Mall

Golden 1 Center Construction seen from the 12th floor of 555 Capitol Mall

Golden 1 Center Construction seen from the 12th floor of 555 Capitol Mall

Golden 1 Center Construction seen from the 12th floor of 555 Capitol Mall

Golden 1 Center Construction seen from the 12th floor of 555 Capitol Mall

Macy's having solar panels installed on it newly installed roof.

Golden 1 Center 6th & L Street

Golden 1 Center 7h & L Street with recently installed facade

Golden 1 Center 7th & L Street with recently installed facade

Golden 1 Center at 7th & K Street

Golden 1 Center at 6th & J Street

Golden 1 Center at 5th & J Street

Golden 1 Center at 5th Street

Golden 1 Center at 5th Street

Golden 1 Center at 5th Street

Golden 1 Center looking south from I-5

Golden 1 Center looking south from I-5

Wednesday, August 19, 2015

Constructions Begun at Downtown Plaza Tower

Downtown Plaza Tower construction begins
The Downtown Plaza Tower has begun construction on the $250 million 16-story mixed-use tower across from Golden 1 Center. The mixed-use tower includes a 250-room hotel, 69 dwelling units, 35,000 square feet of office and approximately 45,000 square feet for retail. Vertical construction is expected to begin this fall with completion in the winter of 2016-2017.

Downtown Plaza Tower construction begins
















Downtown Plaza Tower construction begins
















Downtown Plaza Tower

Monday, August 17, 2015

Hyatt Centric Hotel

Proposed Hyatt Centric Hotel at 7th and L streets























This Wednesday the Preservation Commission will have a public hearing on this proposed 11-story building with 159 rooms. If approved, the none-historic Jade Apartments next two the Marshall Hotel will be demolished in addition to a majority of the historic Marshall Hotel except for its’ two street facades. The Marshall, which was opened in 1911 as the Hotel Clayton, is listed as a landmark on the Sacramento Register of Historic & Cultural Resources. If approved, this project could be completed in 18 to 24 months. 

Jade Apartments

Friday, August 07, 2015

Mixed-Use Project Approved in Midtown

Midtown's going to get a real boost with the approval of this mixed-use project at 21st & L Streets and Capitol Avenue. Whole Foods will occupy 41,000 sf of the ground floor, 141 apartments above, and 323 parking spaces. This six story building will replace a two story garage that currently sits at the site. To offset the loss of parking spaces by this L Street project, a 408 space, 6 level parking garage will also be built at 2101 Capitol Avenue with 13,000 sf grocery store on the ground floor.Construction is expected to begin next spring and completed the end of 2017. No dollar amount has been given to build the project.
2015 L Street Mixed-Use Project
















2101 Capitol Avenue Parking Garage



Thursday, July 23, 2015

Large Truss Installation at Arena

Last week box trusses for the Sacramento arena started to be installed with each section weighing 100,000 pounds and 124 feet long. Below are images provided by www.earthcam.net & DowneyBrand construction cameras.

EarthCam Sacramento arena cam
EarthCam Sacramento arena cam
EarthCam Sacramento arena cam
DowneyBrand Sacramento arena cam

Friday, July 17, 2015

Gold Rush Days are Back!

Sacramento's Gold Rush Days
















Old Sacramento's annual festival to “turned back the clock,” transforming Sacramento’s historic district into a scene straight out of the 1850s will return this year after a cancelling it last year due to the drought and water needed to keep the dust down. According to The Sacramento Bee, the big difference this year compared to previous years is that the street won’t be covered in dirt. Instead, the city plans to use the $25,000 it spends on water and dirt towards enhancing performances at the event. Come celebrate Sacramento’s heritage – Labor Day Weekend Aug. 4-7th 2015

I’m glad to see this event is back, it’s my favorite to see with my kids. Hopefully the dirt streets will return next year with some rain. 

Sacramento's Gold Rush Days
Sacramento's Gold Rush Days

WAL - Warehouse Artist Lofts

 The R Street corridor has been moving in the right direction for quite some time, but the competition of the Warehouse Artist Lofts (WAL) is truly a remarkable achievement. This six-story structure built in 1914 has been converted into a 116 rental apartments and ground floor retail. The $41.5 million complex has been in the works for 17 years by the Capitol Area Development Association (CADA).

WAL - Warehouse Artist Lofts - 1108 R Street
Sacramento, CA  95811
WAL - Warehouse Artist Lofts - 1108 R Street
Sacramento, CA  95811

WAL - Warehouse Artist Lofts - 1108 R Street
Sacramento, CA  95811

WAL - Warehouse Artist Lofts - 1108 R Street
Sacramento, CA  95811

Wednesday, July 15, 2015

Pre-Leasing Vanir Tower

Pre-leasing Vanir Tower proposal























Last November plans were announced for a 26 story high-rise for J Street named the Vanir Tower. The Vanir Tower application team then withdrew its proposal to make “minor modifications”. As of today the Vanir project has not re-submitted their plans to the city but a pre-leasing billboard has been posted at the proposed project location.

What makes this project interesting is that it’s being proposed when the square foot market value to rent a “trophy” building in Sacramento is below what a brand new building would have to charge. Greg Levi, managing director with Jones Lang LaSalle Sacramento and agent for pre-leasing the Vanir Tower stated in Sacramento Business Journal last June “Though rents are rising, though, they’re not high enough to bring construction cranes just yet. The highest rents, around $3.10 a square foot, are still about 40 cents below what a brand-new building would have to charge,” Levi said. So essentially Greg’s saying that rents would have to rise an additional 40 cents a square foot before it would be profitable to build this high-rise downtown… that’s a 13% increase.

So I’m still skeptical this project will ever get off the ground for several reasons. First, as stated above, rents would have to rise 13%. Another reason is that they need to fill at least 50% (186,000 of the 372,000 sf) of the tower before banks will consider lending to them for construction. If Vanir Construction Management has deep pockets, they could build this tower on speculation using their own money like the Bank of the West Tower did at 500 Capitol Mall. It appears to me their need to pre-lease the tower says they need to fill fifty percent of the tower.

To use history as my guide, back in 1999, the U.S. Bank Tower at 621 Capitol Mall started the pre-leasing process when it was originally proposed for 31 floors. After several years of not finding enough tenants to fill 50% of the tower, developer David Taylor reduced the size of the tower by 6 floors. Even with the reduced floor count it took another six years before enough pre-leasing tenants signed up so a bank would lend and construction could begin in 2006.

Once Vanir re-submit their revised project with the city and go through both the entitlement and environmental review process, this proposal might have a chance.