Flooding at the Arena Site

Panoramic photo of arena site looking north

Construction was halted midday Thursday because of the intense rainstorm.

Panoramic photo of arena site looking east

26-Story High-Rise Planned

Proposed 26 story high-rise at 601 J Street 

If I did not know better, it's been feeling like 2006 all over again. Lots of big plans, and when I say lots, I mean way beyond what the city can absorb. But I digress. Last week Vanir Development Co. Inc. submitted plans to the city for a 26-story office tower (377 feet tall) on J Street across the street from the planned downtown arena and hotel. The Sacramento Bee reports that it’s a class A office building and hold 372,000 square feet of office space.

As much as I love the idea of a high-rise and more construction in downtown, this one does not make sense to me. According to Colliers-Sacramento, there is over 1 million sf of vacant office space in (CBD) and 2 million in downtown. That's the size of four 25 story office buildings. Unless Vanir Development Co. Inc. plans to build on speculation like 500 Capitol Mall did, I don’t see how this will pencil out? At one time 621 Capitol Mall was proposed at 31 floors, but for 6 years developer David Taylor could not find enough tenants to fill it so banks could loan him the money to build. A certain percentage of square feet in a tower need to be leased out before monies are released to build. So Taylor shortened the tower to 25 floors so that it could meet loan requirements with the tenants he had already secured over a six year period. 

What’s interesting about this site is that the current building at the proposed site has been empty since 2009. Bank of the West moved to 500 Capitol Mall when their lease was not renewed and were told a high-rise was being planned for the site. The timing did not work out and the site has been sitting empty ever since. Here’s what they had in mind back then... Link

Marshall Hotel Renovation

Proposed Marshall Hotel renovation

In a move to transform and upgrade the Marshall Hotel on L Street, renderings have been released showing a piss poor attempt to make it attractive combining both the old and new. The developer Presidio Cos. said it hopes to start construction sometime next fall of the 130 hotel rooms, topped by 10 to 15 apartments or condominiums.

Proposed Marshall Hotel renovation

"Downtown Plaza Tower"

Official rendering have been released courtesy of Rios Clementi Half Studios showing more detail and green space planned for the proposed arena tower. The project, tentatively titled "Downtown Plaza Tower," is planned to have 250 hotels rooms, 69 upscale apartments, 35,000 square feet of office space and 45,000 square feet of retail space.

Proposed Downtown Plaza Tower

Proposed Downtown Plaza Tower

Proposed Downtown Plaza Tower

$300 Million Courthouse

Vague rendering of proposed Sacramento Criminal Courthouse
across the street from the Federal Courthouse on "I" Street

The budget to build a New Sacramento Criminal Courthouse has been reduced to $300 million from it's original budget of $552 million five years ago. The size of the project has also been reduce from a 16-story mid-rise to now a 12-story building and from 44 courtrooms to 35. Somehow with all the reductions of cost, the square footage of 405,500 has remained the same.

The State of California has allocated $27 million for drawings and planning required for construction.

The groundbreaking is expected for the fall of 2017, with completion by 2020.

Vague rendering of proposed Sacramento Criminal Courthouse 

http://www.courts.ca.gov/facilities-sacramento.htm#tab3703

16-Story Mixed-Use High-Rise

The Sacramento Kings  have proposed a 16-story mixed use high-rise next to the new arena that is currently under construction. The plan has the tower facing J Street, between 5th and 6th Streets. The Sacramento Bee reports that the first four floors of the building will be made of a grand lobby, retail space, offices and hotel amenities. There will be 250 rooms and 69 residences filling the top five floors. The Kings have asked for a city Planning Commission hearing to discuss the plans on Dec. 11 and are seeking to have the necessary permits approved early next year.

Read more here: http://www.sacbee.com/news/local/news-columns-blogs/city-beat/article3651940.html#storylink=cpy

Proposed 16-story hotel between 5th and 6th Streets on J Street.

Time lapse Video of Downtown Plaza Demolition

On Wednesday the Sacramento Kings officially kicked off construction of their $477million downtown arena with plans to have it ready for the 2016-17 season. The Sacramento Bee has a great time lapse video showing demolition of the former Downtown Plaza from July through October 2014. 

Time lapse Video of Downtown Plaza Demolition 4:48.

The Former Downtown Plaza

Panoramic photo from L Street at the former Downtown Plaza 10-12-2014

At an amazing pace, the Downtown Plaza is all but torn down. You can now easily see buildings on J Street while standing on L Street where the mall use to be.

Please click on the photo to view the image larger.

700 K Project to Move Ahead

Last night the Sacramento City Council approved a pair of unanimous votes on the financing plan that would allow the 700 K project to move ahead. As stated in the SacramentoBusiness Journal, D&S Development and CFY Development, have said with some financing approvals for tax credits and bond allocations expected in December, construction on the project of apartments and retail should get underway in early 2016.

700 K would have 137 apartments, both affordable and market rate, in a building behind a row of existing retail spaces, totaling 75,000 square feet and up to 14 different businesses. Under the financing plan, developers will repay the city of Sacramento some money being loaned up front that the city would turn around and use to help other hoped-for projects in the downtown core surrounding the new arena site. The total cost of the project is estimated to be from $35.5 million to about $47.7 million.

Future Sacramento County Courthouse

After nearly a two year pause, the Sacramento courthouse proposal planned for the railyards at the corner of where H Street meets Sixths Street appears to be moving forward again. This week, the State of California bought 2.4 acres for $10 million. According to the Sacramento Business Journal, Court officials have estimated the cost to design and built a courthouse at $452 million, plans call for a 12-story building of 405,000 square feet, with 250 parking spaces and a basement.

The courthouse won’t get built for some time, but the judicial council gave authority this summer to begin working on legislation to appropriate money for courthouse design, but such legislation still needs to be approved by both the council and the state Legislature. In addition, the State has selected two firms to team up on building design, Nacht & Lewis and HOK. 

Property where Sacramento will build a $452 million courthouse.

Downtown Plaza Demolition

Downtown Plaza Demolition

In a matter of 54 days, the corner of L and 5th Streets has been leveled and it looks as if prep work for the new arenas foundation have begun. That orange square in the lower left of the photo looks as if a tower crane might rise from there?

The above photo is a screenshot of a livecam you can view here: https://www.youtube.com/watch?v=fWuS8hM_5D8 

20,000-seat Stadium Plan

Sacramento Republic's proposed MLS stadium

Sacramento’s soccer franchise, Republic FC, announced plans yesterday to build a 20,000-seat stadium in the city’s downtown railyard.  And how would it be paid for? Questions remain over how the stadium will be financed. Mayor Kevin Johnson has said no city money will be used to help build the facility. Kevin Nagle, the lead investor in the expansion bid has said the Republic FC investor group will have the capacity to pay for the stadium, plus a league expansion fee of at least $70 million. No city money to help build the facility could really mean “city money, but only to help buy the land or provide tax breaks. Will see?

Sacramento Republic's proposed MLS stadium

12th Street Underpass Artwork

Today the Sacramento City Council will consider approval of artworks depicted in the images above for placement on the east and west side of 12th Street underpass between North B and C Streets. The fabrication and installation of the artwork will be done by L/C Mural and Design, Inc. for $5000.00.

Sacramento City Council AGENDA

Downtown Plaza Demolition

 They are wasting no time tearing through walls of Downtown Plaza. Please click on panoramic photos to enlarge.

Downtown Plaza Demolition panoramic photo 8-29-2014

Downtown Plaza Demolition 8-29-2014

Downtown Plaza Demolition 8-29-2014

Downtown Plaza Demolition 8-29-2014

Downtown Plaza Demolition 8-29-2014

Downtown Plaza Demolition 8-29-2014

Downtown Plaza Demolition 8-29-2014

Downtown Plaza Demolition 8-29-2014

Downtown Plaza Demolition 8-29-2014

Downtown Plaza Demolition panoramic photo 8-29-2014

Whole Foods Market Proposal

Proposed Whole Foods Market at 2001 L Street

Whole Foods Markets has proposed a mixed-use project on L Street in midtown. The project is not expected to break ground in 2016. The project includes 40,000-square-foot Whole Foods store on the ground floor as well as two floors of parking and four floors of rental apartments at 2001 L Street.

Arena Cam

This arena cam has a great view of demolition at the Downtown Plaza. Downey Brand Arena Cam link.

Downtown Plaza Demolition

Downtown Plaza, Sacramento, CA

This morning about 60 Turner Construction workers gathered at Downtown Plaza to officially start demolition work making way for a new arena. As reported by the Sacramento Business Journal, relatively little work will be visible for the first few weeks and the first buildings will actually start coming in down in two to three weeks. 

McKinley Village

McKinley Village

Site grading is still on track to begin within the next few weeks with the first homes to be built next year. With a total of 336 homes and an investment of nearly $135 million, this project will turn what has been an orchard and grassy area into suburban style development in the central city.  http://mckinleyvillage.com/faq.html

By contrast, the Centrage project proposed in the late 1980’s planned over 1 million square feet of high-density office, commercial, and residential uses, including 19 story office towers, a 20 story hotel, and 1,000 residential units costing $350 million. I think Sacramento once again missed an opportunity when this was rejected by the City Council shortly after the city’s Planning Commission voted 6-3 to support the project as well as the environmental community.

Centrage Project proposed for the current McKinley Village site in 1988

Capitol View Protection

Sacramento, CA - Capitol View Protection

Sometimes it’s good to review a little Sacramento history so as to better understand why the skyline seems to be mediocre at best. Although many proposed towers were never built because of economic conditions, many other high-rise proposals were limited in scale and canceled due to elected officials imposing height restrictions more than a year after developers started getting entitlements for their projects.

Back in 1991, both Mayor Anne Rudin and Sacramento Assemblyman Lloyd Connelly pursued an ordinance to limit height and protect the Capitol. At the time the City imposed the restrictions known as the Capitol View Protection, it ended up wiping out a total of three high-rise proposals, one by developer Giannoni at 14th & L Street at 19 stories and another by Benvenuti at 15th and K Street to be 14 stories, and the Hallmark Tower at 502’. The new law at the time limited all building to ten stories or 135’. All three buildings would have been too tall and blocked the Capitol view. At the time, councilmember’s said “they were committed to smaller buildings around the perimeter of the entire park” which discouraged the developers who started getting entitlements for their projects a year prior to the new law. All three towers were canceled out of frustration and uncertainty as to what the City might do to further scale down their projects.

The R Street Corridor also suffered a similar fate in the late 1980’s killing six high-rise proposals. 

Exceptional Opportunity

1118 - 1128 7th Street, Sacramento, Ca 95814

Ladies and Gentlemen, do I hear $3.5 million dollars, now $3.5 million, now $3.5, will you give me $3.6 million? Don’t worry about how much you’re spending, the cashier is keeping track for you. This site at 1118 - 1128 7th Street adjacent to the arena projects is up for sale for a yet to be announced price. My inquires with the listing agency have not been returned so I'm guessing here. In 2005, 1128 7th Street sold for $3 million, so selling both 1118 and 1128 together next to the new arena should fetch a nice figure.

How could any investor not jump on this opportunity?

Going once, going twice, sold?

1118 - 1128 7th Street, Sacramento, CA 95814 - Potential future hotel,
residential or mixed-use site