There is a new rendering for the proposed 16-story Califrornia Tower at UC Davis Medical Center. Expansion plans are underway for a $3.75 billion, 16-storty hospital tower at 1 million square feet. Rebuild, Expansion at UC Davis Health
Friday, October 29, 2021
Wednesday, October 20, 2021
Luxury High-Rise Proposed For Lot X
In a partnership between Southern Land Company and the Sacramento Kings, a 28-story mixed-use luxury high-rise has been proposed at Capitol Mall and 3rd Street in Sacramento. What makes this project unique is that it would be constructed with mass timber. To learn more about this largely untested method, click here.
The Southern Land Company purchased the 2.56-acre site yesterday with great fanfare from nearby Crocker Art Museum and Sacramento Mayor Darrell Steinberg. The proposal would have 28-floors, 225 luxury apartments and 80,000 sf office space. Construction could begin as soon as 2023 and completed in 2025. At this time, neither a cost estimated or rendering have been given for the proposal.
I think this proposal is ridiculous at a time when nearly 2 million square feet of office space has been put back on the market in the last 18 months. Also, with so many others similar high-rise proposals failing over the years, I wonder what makes the developer this time think 225 high-end renters will want to reside there? Sacramento has successfully built and filled many mid-rises up to six stories, but not high-rises where the costs to build are much greater. Kings press release.
Wednesday, October 13, 2021
Colliers Sacramento Office Snapshot: Q3 2021
According to the report below, the Sacramento office market has shed 1.9 MSF in the last 18 months. The vacancy rate has risen for six consecutive quarters. The negative impact to the office market has been less severe than markets like San Francisco where the rate has more than doubled over last year.
