Thursday, May 22, 2014

16th and N Street Proposal

D&S Development has proposed developing Sacramento City Unified School District-owned property at 16th and N streets in midtown Sacramento into a 132-room boutique brand hotel topped by 30 penthouses, 50 apartments through adaptive re-use of the former school building on the site, 9,400 square feet of retail and 10 townhomes on the property. The Sacramento Business Journal is reporting, the D&S proposal would lease rather than buy the property at 1619 N St. for 100 years at $100,000 annually, with 5 percent increases every five years. In doing so, the development would infuse the property with far more long-term value for the district. Estimated to be a $60 million investment. Two other proposal are also being considered for the site, including another mixed-use housing project dubbed The Jefferson Midtown and a proposal dubbed the California Tribal Life Center, which would involve relocation and expansion of the existing Native American health center in midtown, a cultural center, office space and housing.

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