Studios for the Performing Arts
14th and H Street (Empty lot next door to the Music Circus)
5 Stories - 48,000 square feet of rehearsal, office, and classroom space for The Sacramento Ballet, Sacramento Opera, Sacramento Philharmoic Orchestra, and California Musical Theatre.
The project is ~25M, with 9M coming from the city (money from the CIP done last year), 5M loan, and 11M in donations.
Project is currently under going 11.5M fund raising efforts. Project is expected to be completed in 2 years. From what I understand the lease run out for the Ballet school in 2 years, so they need to have the space ready by then.
Here is how the major donor requests break out:
Lead Donor: $5M Requested: Naming Rights (They said this one is imminent)
Ballet School Naming Rights: $1.5 - 2M
Studio One Naming Rights: $1 - 1.5M
Studio Two Naming Rights: $1 - 1.5M
They have also raised 550K (at time of the last council report) in pledges from other donors.