Saturday, October 29, 2005

Can anyone guess where this is?

That is our K Street Mall back in the 40's.

Now I know some of you must be "Bullshit" There way too much life on that street to be Sacramento's K Street. That has to be a K Street somewhere else. There are actually cars on that street!!

It is!!! Look, you can even see the Kress Building in the background!

Unfortunately, many of us are not old enough to remember the K Street Mall of years past. and only have images urine stenched streets, homeless people, drug use, burned down buildings, boarded up retail shops and general scariness

The K Street of the older days was filled with lots hotels, theaters, department stores. A big difference from todays selection of retailers. (even if it has got a million times better over the years).

It was the entertainment center for the region. When you wanted a night out on the town, K Street is where you went.

For decades, and decades the city has been trying to jump start the most tired, beat up stretch of our central city and turn it in the lively city we see above (Minus the hats)

Thankfully, such landmarks as The Crest Theater, Kress Building, Sacramento Public Market (by famous architect Julia Morgan) and The Cahderdral of the Blessed Sacrament were able to survive the down turn of K Street.

After year and years of fails starts and proposals coming and going ranging from TV Studios to a Century CinaArts. Sacramento may have finally broke though.

In Oct 2004, Mayor Fargo held a "Plan A Ballosza" , where hundereds of Sacramentains came out to tell city leaders what they want to see happen to our downtown. RFPs were sent out to all the property owners basically saying, time to put up or get Eminent Domain dropped on you. (it's about time)

After many meeting and discussion around property ownership, the historical significance of the buildings on K Street Mall, 3 groups of developers are coming out of that process that are attempting to step up and offer plans to develop the 700 block, 800 block and the city owned 10th and K block of K Street Mall.

There is so much info on these projects, I'm going to keep them as short as possible. I'm sure I will leave some details out.

10th and K

Developement Team:
David Taylor, CIM Group, St Anton, and the Cordano Company (K Street Cental)

In addtion to the city owned site at 10th and K, the team is proposing to develop all 4 corners of that intersection. The other 3 sites are owned by the team, so ED will not be needed.

What is being proposed for the other 3 sites:
- 230 Housing Units
- 105-Room Boutique Hotel
- Retail and Restaurant Space

For the city site, there are three option they have presented:
1) 114 Market rate Housing, Lucky Strike Bowling, Jazz Nightclub, Broadcast Studios for UPN and KFBK (can you imainge watching Nappear calling someone a "moron" through a glass window? haha)

2) Movie Theatre Option, only if the Westfield one does not happen. This would be appox 150K in retail and entertainement space.

3) Live Theatre/Performing Arts

The team will be pursuing a Live Theatre/Performing Arts option. Talks were that originally the B Street Theater would move into the space, but their commitment to the Sutter Midtown Project killed that idea. The city has hired consultants to see what would be possible for the site and what users would be interested.

For as much I think a new performance art stage would be great, and I think a new movie theatre is needed downtown...I would like to see the Sacramento Symphony, Philharmonic, Ballett, ect, get permanent space.

If we finally get the Community Theatre (To be renamed "Sacramento Performing Arts Center)" renovated, that will take care of performance art for a little while

800 Block and 700 Block

After submitted competing proposals, John Saca and his team have signed a "peace treaty" with the owner of Z Gallery, Joe Zeiden for each to develop seperate projects.

For the 700 Block, Zieden Properites will rehad all the building on that block and bring in approx 50K in new retail. Names such are Borders Books, Urban Outfitters and Sur la Table.

For the 800 Block, Saca and company was proposing a high-rise condo project with about 500 units and some 30K in retail space.

The initial estimate cost to the city in terms of a subisdy/loan is "budgeted" to be around 20M.

To FINALLy get K Street cleaned up, to me, that is NOTHING. Pennies compared to how long that stretch of street has been sitting in dispare and has plagued downtown.

There are still a lot of details to work out since there is still some property that will need to be bought or ED from property owners on K Street

More on these very important project coming soon...

Friday, October 28, 2005

Sacramento Union Building..we hardly knew ya.

I think it would be kinda cool to see them save this part and maybe display it somewhere in the building. Nothing that stares you right in the face though, something discrete, but noticeable

Someone told me that Mark Twain wrote for the Sac Union for a period of time in 1866. There is tidbit of info I had no idea about...WOW

Monday, October 24, 2005

The Library Lofts at 8th and I

Developer: DR Horton
295 For-Sale Condo's
30-45K Office Space (to be used by the county)
5K Retail Space.

I like the look a lot. Reminds me of some of the buildings that are under constuction in San Diego right now.

Saturday, October 22, 2005

Construction Photos Part 2

18th and L Street

St Anton Building at 21st and L

Construction Photos and Random Sacramento Photos Part 1

I took a nice Saturday afternoon walk all through midtown and downtown to various construction sites. I thought would post what the process is of many of the urban projects under construction at this time.

Recently completed Fremont Mews on 14/15th Between Q/P

O1 Lofts on 16th and K. Next door to Mikuni's. Will house Bistro 33 (Good Breakfast!) and Design Within Reach on the ground floor

Sear Building Lofts at 12th and K

Plaza Lofts on 9th and J

Marriot Resience Inn at 15th and L.

This is one that many might not know about. It is a 15-story Marriot that is also featuring 30 for-sale condo's on the top 3 floors. So while we hear about all these other larger projects, none of which have actually broken ground yet, these are actually under construction.

The site is directly across the street from the new restaurant Mason's and nightclub The Park

Tuesday, October 18, 2005

More News on the County Building at 8th and I

Here is the staff report for this week:

Looks like the tower will be 295+ units ranging from 700 - 1600 sf priced between 350K - 675K. Plus, 5000 sf retail and 30-45K Office.

They list another reason for going with Horton is due to the fact that this development would target the more moderate buyer, versus the higher-end units that are out there right now.

This is really good.

Some affordable housing units in downtown. (At least compared to the other proposals out there) 1600 sf will go for about $420 a sf, versus well over $500 a sf at Aura or 301 CM. It also mentions the prices are somewhat based on views, elevation, details and penthouse orientation. A place on the lower floor will mostly likey be even more "affordable"

From the report:
"Although there are various ownership residential development proposals currently being proposed downtown, the Selection Committee felt this proposed project addresses a different market, the moderate homebuyer, and is best suited for this area."

Friday, October 14, 2005

L Street Developments

I thought I would put up some smaller infill developments that are going on a couple blocks from each other on L Street.

Altogether these projects consist of over 330 units of housing, 92 of which are for-sale, and 18,000 square feet of retail space.

These three projects, in addition to the restaurants and art galleries such as Zanzibar and Phoenix, already there, are going to create an amazing neighborhood center in midtown between 18th and 21st, and between Capitol Ave and L Street.

I hope some of the retail goes to new galleries. That area seems to have the most galleries around midtown. I would like to see it really become the center point of Second Saturday. (at least until R Street gets really going, if it ever does)

For more info on Second Saturday

18th and L
North Side of 18th and L
176 Rental Units
10K Retail Space
Retail Signed on:
Buckhorn Grill..Yummy (If you have been to the one in Winters, you know what I am talking about)

Estimated Completion: May 2006
Developer Sotiris Kolokotronis
Architect: Ron Vrilakas

L Street Lofts
South Side of 18th and L
92 For-Sale Condo Units
6K Retail Space

Estimated Groundbreaking: Year End
Developer Sotiris Kolokotronis
Architect: Ankrom Moisan Associated Architects

St Anton Building
21st and L
65 Rental Units
3K Retail Space
Retail Signed on:
Stone Grill. Cook your own meat on lava rocks. Sounds kick ass.

Estimated Completion: Early 2006
Developer: St Anton Partners.

Ugly County Building Going Bye-Bye?

There was news a couple months back about the old county building on 8th and I being solicated to a developers. The building is vacant, now that the city has finally moved to the new city hall. Chances of that eye-sore being leased are slim and none..and slim just left the building.

The county is carrying a 8 million dollar mortgage on it and is costing the country something like $50,000 every month. They are really just looking to get it off their hands.

4 proposals were received. The one choosen was from homebuilder DR Horton was choosen to for the site.

A 21-story tower with 295 condo's with a small amount of office and retail is planned,

Now some interesting news, there were two other proposals that made the short list, so one was thrown out.

- Dain Domich (local developer), whom you might remember bought the funky peice of land on Capitol Mall before the city ripped it from him (I'm still mad about that). His proposal was for a 28-story tower with condo's, office and retail.

- Montgomery Advisors out of SF. They proposed 1,000 (Yes, 1,000) housing units.

It looks like the reasoning behind choosing Horton is they have DEEP pockets and can build right away. Horton had $11 BILLION in revenue last year. Hopefully they can get going as soon as possible before the housing market inevitably cools down. The item goes before the county board next week for approval.

Another intersting note, Montgomery Advisors. That's great to see that they are looking at the Sac market. I think they have done some big stuff in SF