This project is at the corner of 16th and H where that big empty lot across the street from the Governors Mansion.
Looks like thedevelopment is for 48 condo units (109 Dwelling Units per Acre), which is pretty dense, and it will continue development along what I think will be a great walkable 16th Street.
The kicker is, the units are going to be really small.
Planning Commission Staff Report
Loft Square Footage and Unit #
416 sf - 1 Unit
449 sf - 3 Units
487 sf - 3 Units
497 sf - 3 Units
579 sf - 3 Units
589 sf - 3 Units
599 sf - 9 Units
607 sf - 3 Units
633 sf - 3 Units
640 sf - 9 Units
762 sf - 3 Units
1,151 sf - 3 Units
My buddy (and his gf ) who lives in Manhattan has a small loft like this. Its less than 500 feet, with an alcove toward the ceiling where his bed is, small kitchen, small bathroom, and enough room for a TV, small sofa, table, and cabinet for clothes.
Granted he goes out quite a bit, but I could see a single person making this work if they don't mind the small living quarters and can live without much cluter. Now I know in Sacramento this is hardly the norm when it comes to housing, but for people in other large cities in the US, and the world, these type of housing units are common.
This obviously isn't the answer for family housing and is definitely not for everyone, but for someone young, single with not a ton of money to start with who wants to own a place downtown and goes out a lot, this could work if they understand what they are getting.
Does it have legs here in Sacramento? I've thought a development like this could work, so I guess I'll find out.
I am curious about price though. Let's say they are $400 a square foot, that's 160K-250K for most units. Would a developer ask more than that though? I am going to assume since the units are small, there is a lot of space in the building that can't be sold thus maybe a need for a higher square footage price.