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| The Benvenuti tower proposal at 7th & L Street in Sacramento |
The Benvenuti tower proposal was first proposed in 1989 at
the former Greyhound terminal at 7th & L Streets in downtown
Sacramento. The 31-story high-rise proposal by Joseph Benvenuti was part of a
broader economic trend to invest more development in downtown Sacramento.
Joseph was also involved in the development of three Sacramento landmark
projects: the Hyatt Hotel, the Emerald Tower, and the Renaissance Tower. Joseph
was also an original and majority owner of the Sacramento Kings when they
relocated from Kansas City, and played an integral role in the development and
construction of both Kings' arenas. The late 1980s and early 1990s did
experience a slowing in economic growth and credit shortages, which
historically made large, high-rise development projects difficult to finance. However,
the specific 1989 proposal failure cited as being due to a recession is not
mentioned specify.
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