Historic District Plans Updated

Tomorrow the Preservation Commission will meet to discuss The Historic District Plans for all 32 of the City’s historic districts and updates the Sacramento Register of Historic and Cultural Resources. Pg. 18 of the report shows the Historic District map in various stages of status for recommended additions and removal. If you choose to review the report, there are many great old time photos of the city and background as to why some districts are that way. 

 https://sacramento.granicus.com/MetaViewer.php?view_id=21&event_id=3576&meta_id=570317

Historic District Map of Sacramento

Sacramento's Tallest Sold For $198.8 million

Well Fargo Center - 400 Capitol Mall, Sacramento CA

This is another milestone, setting a new market record for overall price; the 30-story high-rise was sold for $198.8 million to Singapore-based real estate investment trust. This is one of those ‘put your money where your mouth is’ moments demonstrating that market confidence is high. There have been several large sales in the last several years of downtown high-rise office. According the Sacramento Business Journal, the overall price is the recent sale of 400 Capitol Mall is a new record, its valuation of $395 per square foot for the 502,365-square-foot building is still below the record on that basis; U.S Bank Tower at 621 Capitol Mall sold for $161 million, or about $439 a square foot, last year.

2020 - 980 9^th Street, Park Tower sold for $165.5 million
2019 - 400 Capitol Mall, Wells Fargo Center sold for$198.8 million
2019 - 300 Capitol Mall, Emerald Tower sold for $127 million
2018 - 621 Capitol Mall, US Bank Tower sold for $161 million
2017 - 980 9^th Street, Park Tower sold for $120.5 million
2016 - 400 Capitol Mall, Wells Fargo Center sold for $175.5 million
2016 - 801 K Street, Renaissance Tower sold for $80 million

Well Fargo Center - 400 Capitol Mall, Sacramento CA

Well Fargo Center under construction 1991 - Photo by me

Well Fargo Center under construction 1991 - Photo by me

Well Fargo Center under construction 1991 - Photo by me

Well Fargo Center under construction 1991 - Photo by me

11th & J Street Mixed-Use Proposal

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.

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.