Saturday, June 14, 2014
Sacramento Commons
The current Capitol Towers apartment mega block on 7th
Street is slowly going through the review and entitlement process for a pair of
25 story high-rises and 22 story building. The Sacramento Business Journals
reporting that the developer, Kennedy Wilson Inc., has released some renderings
of the project. No public hearings have been scheduled yet.
The proposal includes 1,200 new apartment and all ground
floor villas would be demolished. Hopefully this project can break ground before the market correction.
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Phase 1 of the Sacramento Commons started renting this past weekend. As of Sunday morning they had 2 leases signed or .46% of the 436 units leased. Word is once they hit 80% leased they will start moving renters out of the 2 story's to make way for phase 2 of the Commons. Nearby, The Frederick (162 units) has hit 80% leased.
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