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| Proposed Anthem Cathedral Square would mixed-use with 153 apt. |
After many decades of being in decline, it looks as if this
rough stretch of J Street will get a project the market can support. The
proposal named Anthem Cathedral Square will be a seven-story mixed-use
structure with 153 apartments with retail space on the ground floor. As
reported by
The SacBee, this proposal would be mid-range of market rate so they
will be affordable to more people. It will replace three largely empty and
outdated buildings that cover more than half of the block on J Street.
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| Proposed Anthem Cathedral Square would mixed-use with 153 apt. |
For those who wanted more from this site, like a high-rise,
this is something the market does not support. Anthem looked into building a
20-story high-rise but they found it was to expensive. This finding is historically
correct, back in 2006 developers St Anton / Cordano Company proposed a 26
Stories, 233 Units with 15K Retail and that never left the drawing board. I
hope the developer can get this going soon while the economy is still strong.
These kind of projects in the downtown JKL corridor are crucial for the survival of all that retail/bars & restaurants in DOCO and K Street, as well as creating some sense of community after working hours. Without 1k+ more full-time residents near the JKL proximity, I don't see those new businesses on K & DOCO making it very long... particularly if there is an economic downturn. Would hate to see another chapter of K street failures.
ReplyDeleteAlso, this particular block of J has been dead and blighted for decades and helps form one's impression of downtown Sacramento as they exit from I5... aka not good.
Like you, I really hope this gets off the ground, as well as a similar (modest) project is accelerated at the stalled Metropolitan site.