 |
| 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.
http://www.cityofsacramento.org/Community-Development/Planning/Environmental/Impact-Reports
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.
http://www.cityofsacramento.org/Community-Development/Planning/Environmental/Impact-Reports
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.
I agree it’s not an architectural masterpiece but in all honesty Sacramento’s skyline needs to take what it can get. I like that it will give the skyline a new dimension of height and should be seen from areas of the city where the skyline currently can’t be seen. Hoping it comes to fruition. Must have an okay chance if they are going through with the EIR process.
ReplyDeleteThe last recession left a dozen or so proposals that had gone through the EIR process unbuilt. Until its actually rising out of the ground I would not place any bets.
ReplyDelete