Wednesday, July 31, 2019

Construction By Years End

601 Capitol Mall Mixed-use development
Downtown Sacramento will see more residential at 601 Capitol Mall starting by years end. Construction on an eight-story mixed-use project will have 162-units and more that 7,000SF of retail space. No cost has been given  by Shorenstien Properties.
601 Capitol Mall Mixed-use development

Wednesday, July 17, 2019

I Street Bridge Redesign Plans

Four design concepts are ready for public feedback for the new I Street bridge. There were originally nine designs in April but after receiving feedback, the number was narrowed down to four. KCRA report

The Thru concept is the least expensive option at $150 million

The Spring concept is priced at $180 million

The Solar Arch concept is $250 million with the most iconic structure

The Spring concept is also priced at $180 million

Friday, July 12, 2019

Tower 301 CEQA & Draft EIR

Proposed Tower 301 on Capitol Mall, 557' tall and 31 floors
The Draft Environmental Impact Report (EIR) for the Tower 301 Project (P18-078) located at 301 Capitol Mall is available to view and comment. The Comment Period is from July 3, 2019 to August 19, 2019.
If you read the Colliers Sacramento Market Q2 2019 Office Market Report Final, it says, “Market vacancy rate is now at a 17 year low. Downtown tenants in Class-A high-rise floors facing $3.50/SF rents or higher will seriously consider relocation options in Natomas or other nearby suburban submarkets to cut costs or find more efficient space. ”I would guess this will make it harder fill the proposed Tower 301 where rents are quite a bit higher than 3.50/SF.

In my opinion, its tall but underwhelming. The proposed tower does not give any since of place or add anything unique to Capitol Mall. I had hoped a beautiful building would be proposed at the foot of Capitol Mall, and this is not it. The proposal would not have to be tall, just unique and attractive like the Emerald Tower across the street. Have you seen some of the other dynamic high-rises cities are getting lately when developers spend $500 million or less? For some reason Sacramento just does not inspire architects. 

Wednesday, July 03, 2019

Colliers Sacramento Office Snapshot: Q2 2019

Looks like another healthy quarter for Sacramento’s office market. Vacancy is at its lowest percentage since 2002 and the asking rate PSF/Month continues to rise. ColliersSacramento Research Department has the city looking very good.
Colliers Sacramento Office Snapshot: Q2 2019