Thursday, October 18, 2018

“Sacramento Storm Clouds”

Karen Fess’ painting, “Sacramento Storm Clouds,” will be auctioned in
support of the Yolo Basin Foundation at Bucks for Ducks on Nov. 2. Courtesy photo


I found this painting striking and beautiful. It can be yours if you go to the silent auction that benefit Bucks for Ducks from 5:30 to 9 p.m. Friday, Nov. 2, at the UC Davis ARC Pavilion. 
Davis Enterprise

Tickets and table sponsorship opportunities are available at www.yolobasin.org.

Tuesday, October 16, 2018

Colliers 3Q 2018 Sacramento Research & Forecast

Colliers International third quarter office market report says Sacramento is on the rise. Because of high demand from State government, healthcare, and education sectors, vacancies have dropped to a 16-year low. Nevertheless, rising construction and land costs have many developers cautious to move forward with new speculative office projects. Some key points from the Colliers report,  downtown leads all submarkets with absorption of 226,681 square feet but Class A asking rates downtown is unchanged at $3.01 per square feet. Read the Colliers International Q3 Report here. 

Mid-century Modern Landmark Nomination

Tomorrow the Preservation Commission will conduct hearings to determine if four proposed landmarks should be registered as Historic. Gunther’s Ice Cream on Franklin Blvd. represents 1940’s architecture. The Sacramento Courthouse built is 1965 is also being considered because of its Brutalist style. Another one being considered is the Former Savings and Loan / Chase Bank Branch built in 1964 on Freeport Blvd.. The last recommendation is Iva Gard Shepard Garden & Art Center at 3330 McKinley Blvd.
In my option, only two of these should make the cut, the Former Savings and Loan on Freeport Blvd. and Gunther’s on Franklin Blvd. They both have a presents that is unique and distinctive elements of the architectural style while the other two are forgettable. The commission will probably agree that all four deserve Historic statue. To learn more about all four buildings, please go here.

Sacramento Court House at 720 9th Street, built in 1965 

Gunther's Ice Cream at 2810 Franklin Blvd., built in 1949

Former Savings and Loan at 4701 Freeport Blvd., built in 1964

Iva Gard Shepard Garden and Art Center at 3330 McKinley Blvd., built in 1959 

 
 

Wednesday, October 10, 2018

Mixed-Use S Street Proposal Gets Funding

Mixed-use 159 units project at 1717 S Street













Another small but important mixed-use project has secured funding with construction expected in 2019. After waiting more than a decade, this 6-story 159-unit project at 1717 S Street will fill a vacant lot just behind the Ice Blocks project on R Street. At a total cost of $64 million, CFY Development, Inc. will receive loans from several different sources including Capitol Area Development Authority (CADA), Sacramento Housing and Development Agency (SHRA), as well as a conventional loan. The City of Sacramento is now financially committed to project.

Wednesday, October 03, 2018

8th & P Street Excavation Work

8th & P Street State Natural Resources Bldg. excavation work begins













View the project as it moves along on the OxBlue cameras: https://app.oxblue.com/open/turner/nnrhproject

The P Street high-rise will be 21 stories, 838,000 sf, and expected to be completed in summer 2021. Mass excavation stated on 9/6/2018, there will be approximately 112 trucks onsite per day.

Monday, September 17, 2018

Township Nine Bankruptcy Sale

Proposed Township Nine fully entitled river front mixed-use project for sale











Colliers International is now promoting the bankruptcy sale of Township Nine and it’s 62-acre master planned community. With a majority if infrastructure completed with streets paved, sidewalks done, trees planted, and access to the bike trail on the American River. This site is ready to go vertical.

The site was planned to be home of 2,500 condos, office and retail stores and restaurants, but in the end only the Cannery Plaza Apartments were built. This project had so much potential, something tells me it will sit vacant for a while even if the land is sold in the near future.

Township Nine Cannery Plaza Apartments









The development was reported to be facing financial issues for quite some time but this last June The Board that reviewed the Company’s financial position found it was no longer able to pay its debts and needed to reorganize.

Wednesday, September 12, 2018

301 Capitol Mall Tower Divides CalPERS Board

Capitol Public Radio’s reporting that the CalPERS board has stalled the project because of internal disagreements. It appears three CalPERS board members have voted against the project citing a study that the return on investment would be to low.

No plans have been filed with the city and no major tenant has been secured, both are required for financing. Will CalPERS drop the ball again? This could be CalPERS way of backing out of the project without saying perspective tenants aren’t eager to lease space like CalPERS had hoped. For over two year the proposed Vanir Tower, a 26-story high-rise on J Street also could not find perspective tenants to secure financing.

Tuesday, August 21, 2018

John E. Moss Federal Building Meets Historic Listing Criteria

John E. Moss Federal Building built in 1961 at 650 Capitol Mall

















A report from the General Services Administration (GSA) dated August 2018, determined that the John E. Moss Federal Building— located at 650 Capitol Mall in Sacramento — “meets National Register of Historic Places Criterion A and C, when evaluated within a local, state, and national context.”

http://sacmod.org/gsa-john-e-moss-federal-building-meets-historic-listing-criteria/

     John E. Moss Federal Building built in 1961 at 650 Capitol Mall