This is still hard to believe, after being K Streets most
run down section for over 30 years the 700 block of K Street has been reborn. Both
D&S Development and CFY Development are nearly finished with rehab and creating
a mixed-use project right next to the Golden 1 Center. The final total cost to date is $60.1 million which is a 25% price jump from the original $48 million.
This project added 137 apartment as well as ground floor restaurants and retail.
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| Development in the 700 block of K Street |
The city of Sacramento has donated some of the parcels and will pay about a quarter
of the $60.1 million cost through loans and grants. The city contributed $2.6
million and another $13 million in public money also came from affordable
housing subsidies, both do not need to be paid back. That is a lot of free
stuff, both the land and dollars were giving to the developer.
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| Development in the 700 block of K Street looking east |
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| The soon to be Solomon's Delicatessen on 700 block of K Street |
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| Development in the 700 block of K Street looking west |
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| 8th Street view of the Harden apartment behind the historic store fronts on K Street |
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| 7th Street view of the Harden apartment behind the historic store fronts on K Street |
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| 7th & L Street view of the Harden apartment rising behind the former bus station |
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| 8th & K Street view of the Harden apartment behind the historic store fronts on K Street |
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| 8th Street view of the Harden apartment behind the historic store fronts on K Street |
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2 comments:
I'm so happy it's been redone, but I'm most excited about the housing, we need 20x more of it to really bring that part of downtown to life.
It's easy to give away millions of dollars when they are not yours. Soon the city will cry that it needs to raise taxes because of budget short falls while giving millions and millions away to developers and free land. You're right Livinginurbansac, subsidies have inflated the market, most private projects downtown need subsidies to break ground these days.
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