Tuesday, August 21, 2012

Hoofing It to the New Rail Platform

Sacramento Valley Amtrak Station - 401 I St. Sacramento 95814








Over the weekend I went out to the new rail platform to take a closer look at the track relocation project, also known as "The Path to Progress." Walking from the Sacramento Valley Station Depot to the new platforms took about five or six minutes and was about a quarter mile. I found myself thinking while shuffling out to the new platform that this is far less convenient for everyone. Even with the covered pathway; the weather is going make this hike even more of a chore with baggage in hand. Something else to consider, if you did not use the restroom before leaving the main depot., you better be prepared to hold it because this $50 million project does not include any at the new platform.

Sacramento Valley Amtrak Station - 401 I St. Sacramento 95814








The new platform was built anticipating an intermodal depot would be built close by shortly after completion. There are currently only vague conceptual plans for the new intermodal depot with no additional funding to build it. So this barren hike from the old depot to the platform will now be many passengers first and last image of Sacramento for years to come. The city recently won a federal grant to rehabilitate the current depot with work expected to start next summer.

Sacramento Valley Amtrak Station - 401 I St. Sacramento 95814
Walk to the platform - 401 I St. Sacramento 95814
Walk to the platform - 401 I St. Sacramento 95814







Walk to the platform - 401 I St. Sacramento 95814

Walk to the platform - 401 I St. Sacramento 95814
Walk to the platform - 401 I St. Sacramento 95814

Walk to the platform - 401 I St. Sacramento 95814

Walk to the platform - 401 I St. Sacramento 95814








New train platform - 401 I St. Sacramento 95814


New train platform - 401 I St. Sacramento 95814



Looking back at the depot - 401 I St. Sacramento 95814



Wednesday, August 15, 2012

Downtown Plaza Sold









Local press is reporting that JMA Ventures of San Francisco has purchased Downtown Plaza today for about $22 million from Westfield Group LLC. and plan on transforming it into an urban destination. The mall was originally built in 1971 and redeveloped in 1993 costing $157 million. At nearly 1 million-square-feet and covering six city blocks in downtown Sacramento, the new owners will have a big job getting bring new life into the diminishing shopping complex.
City officials seem to have lots of ideas, like turned the inside out so that it connects better with the city on J and L streets. They also have talked about rebuilding Fourth and Fifth streets through the mall and possibly allowing cars back on K Street in the plaza. I personally would not take too much advice from the city and how to revitalize the mall, just look at their track record thus far on K Street, both the 700 & 800 blocks are barren and after nearly three decades  of social engineering, K Street in downtown is still about the same.
In other news at the Downtown Plaza, lenders have foreclosed on the building housing Macy's men's and furniture store at 600 K St., though the store remains open and will continue to operate as usual for now, according to people working in the store.

Monday, August 06, 2012

Finished La Valentina Project

La Valentina Apartments - 429 12th Street, Sacramento, California 95814
The final touches are being taken care of at the new La Valentine apartments and judging by their Facebook page, they have a steady flow of new tenants moving in too.  This $27 million project has 81 units of affordable housing adjacent to the Alkali Flat/La Valentina light rail station.  

La Valentina Apartments - 429 12th Street, Sacramento, California 95814





La Valentina Apartments - 429 12th Street, Sacramento, California 95814





La Valentina Apartments - 429 12th Street, Sacramento, California 95814


La Valentina Apartments - 429 12th Street, Sacramento, California 95814




La Valentina Apartments - 429 12th Street, Sacramento, California 95814

Friday, August 03, 2012

Seventh & H SRO Construction Activity

Seventh & H
With just a few more bricks to lay, “Seventh & H” looks pretty sharp for an affordable housing project. The eight-story, $47.4 million, 150-unit being built by Mercy Housing is the first new structure going up in the railyards redevelopment project area.

Seventh & H

Seventh & H





























626 I Steet, Sacramento 95814



626 I Steet, Sacramento 95814


























This project when completed will consist of 108 units for occupancy by extremely low income elderly persons in September 2012. See before photos here.

Wednesday, August 01, 2012

East End Gateway 2 & 3 Construction Activity

East End Gateway Site 3









For the next two weeks at Site 2, the contractor will be laying out and beginning to install plumbing, laying out the mechanical system, laying out and framing the third floor walls, floor joists, and laying out and framing fourth floor walls
East End Gateway Site 2
At Site3, the contractor will be laying out walls on the newly-poured concrete deck above the first floor, removing the shoring that supported this floor during concrete pouring, begin framing the second floor, and install the plywood decking for the third floor. Work to lay out the building’s mechanical, plumbing and electrical systems will begin.
East End Gateway Site 3
East End Gateway Site 3
Look north down 16th Street at East End Gateway Site 2 & 3


Panoramaic view of East End Gateway Site 2 & 3































Work began on this project at both the SW and NW corners of 16th and O Streets January 12th and is expected to cost $26 million. The project includes 13,000sf retail along 16th street, 84 apartments, and 93 parking spaces. The architect for the project is Stantec, Developer: Ravel Rasmussen Properties and Separovich/Domich Real Estate, General Contractor: West Fork Construction, Inc., and expected to be completed by mid-2013.

Tuesday, July 24, 2012

New Courthouse Agreement Paused

I have learned recently from the Office of Court Construction and Management that the Sacramento acquisition phase funds for building a new Sacramento Criminal Courthouse have been re-appropriated but funding is still dependent on the final State budget. There has also been an agreement on price for the preferred site and OCCM real estate staff are now working on the purchase and sale agreement; however, negotiations have been paused. I have a hunch that we won’t see any movement on this project till early next year after the elections and budget issues have been resolved. No renderings of the proposed courthouse have been released.

Thursday, July 12, 2012

Capital Secured for Capitol Lofts

CADA has announced that the Capitol Lofts project (CADA Warehouse), located at 11th and R Streets, was award $18 Million in low-income housing tax credits. The federal tax credits will allow the Capitol Lofts to move forward and start construction within the next seven months.












Next spring, CADA’s development partners, CFY Development and Holliday Development, will be begin constructing 116 mixed-income housing units and 23,000 square feet of commercial retail space. The construction will be completed in the spring of 2015. When finished, you will see a mixed-use, transited-oriented, brownfield, historic adaptive rehab, and infill development project that will continue the transformation of R Street’s Historic District that began with the streetscape project completed earlier this year. The $41 million complex will have underground parking and a courtyard between the warehouse and new construction.








The historic six story warehouse (built in 1895) will be brought back to life; supplemented with new construction on the adjacent ‘pit’ that combines two levels of parking with a multi story 60 ft high new building wrapped in brick. Dwelling Units per Acre: 131.5. Learn more and stay updated by going here, here, and here.

Tuesday, July 03, 2012

Renovated Hotel Berry

Hotel Berry, 729 L Street, Sacramento, CA 95814
Last spring, the 83-year-old Hotel Berry began renovations at a cost of $24.5 million to completely renovate and modernize the historic hotel. The depression-era six-story mixed use hotel had fallen into severe disrepair, but after being bought by Jamboree Housing Corporation in 2007 for $5 million, the agency was able to finance the project with $13.6 million in tax credit equity, $10.1 million in permanent financing from Sacramento Housing and Redevelopment Agency and $500,000 in federal weatherization funds. U.S. Bank provided $5.5 million in construction financing.

Hotel Berry, 729 L Street, Sacramento, CA 95814 - 1926
The historic hotel was built in 1929; the Berry was once a functioning hotel but has been used as low-income housing for single occupants since the 1960s. At that time, there were about 2,300 single-room occupancy apartments in the city. With 104 Single Room Occupancy (SRO) studios and a manager’s unit, the total cost break down per room is $240,000 per unit to renovate.  The hotel is scheduled for completion in the next 4 to 6 weeks and now called The Studios at Hotel Berry.

Hotel Berry, 729 L Street, Sacramento, CA 95814




Hotel Berry, 729 L Street, Sacramento, CA 95814 - 1926

Friday, June 29, 2012

Nomination of Maydestone as Historic Place

Maydestone - 1001 15th Street, Sacramento, CA 95614
Next week the Preservation Commission will consider nominating the Maydestone Apartments to the National Register of Historic Places. Built in 1910, the building will be eligible as an important element contributing to the urbanization of Sacramento in the early 20th century and as an excellent representative of Mission Revival design in Sacramento.
Last year the building finished up rehabilitation at a cost of $7.2 million which restored the building in accordance with the Secretary of Interior’s Standard of Rehabilitation of Historic Buildings.        

Wednesday, June 27, 2012

L Street Lofts Now Renting

L Street Lofts - 1818 L Street, Sacramento CA 95811












The L Street Lofts just became more affordable to those desiring to live at this midtown location. If you want to rent, they range from $1,825 for one bedroom to $3,150 for a one bedroom Penthouse. If you would rather buy a condo, Zillow show the sale of a 663 sf. unit on the 6th floor for $210,000 last April… making the estimated monthly mortgage payment $758. Buying a unit seems to be the better way to go, but don’t forget the HOA fees, I believe that’s an additional $250 per month.

L Street Lofts

Tuesday, June 19, 2012

Federal Grant Secured for Train Depot

Sacramento Valley Train Station Depot - 401 I Street














Sacramento’s historic Sacramento Valley train station has been awarded $15 million by a Federal Grant to rehabilitate the outdated depot. The money will be matched by local funds to include adding air conditioning and modern heating, fixing stairs and elevators, renovating bathrooms, and creating new spaces for leasable use. The city plans include a restaurant in what is now a large, unused space adjacent to the train depot's main waiting room. Work is expected to start next summer.
The station was originally built by Southern Pacific Railroad in 1926 $2.3 million.

Tuesday, June 12, 2012

Light Rail to the River District

The first phase of the Green Line connecting downtown Sacramento to the River District and extending 1.1 miles north to Richards Boulevard and 7th Street at the Township 9 development, will be ready for service this Friday.

The Green Line will eventually extend light rail 12.8 miles north from downtown Sacrament through Natomas and the Sacramento International Airport. The Green Line to the River District will operate as an independent circulator, connecting to existing tracks south of H Street and operating through downtown to the 13th Street light rail station.

In conjunction with the City of Sacramento's two major development projects (The Railyards and Township 9) and the River District Specific Plan, the Green Line to the River District will provide a key transit link from these developments to downtown Sacramento.

The Green Line to the River District is RT's first design-build track construction project.  The cost of the design-build contract is $44.4 million.
























Project Benefits

This project is the first phase of a larger project that will provide improved transit service tot he Natomas communities and beyond. It will also demonstrate RT's ability to deliver a locally-funded project that supports the Sacramento region's Blueprint principles by tying transit service to future development and promoting patterns of smart growth.

The Green Line to the River District will provide public investment in a corridor identified for redevelopment, which will lead to needed private investment, and provide immediate benefits to existing businesses along the corridor.

Trains are expected to operate on a 30-minute frequency and generate an additional 6,540 daily boarding’s.

Monday, June 11, 2012

Reducing Minimum Parking Standards

Existing parking requirements for all development in and around downtown Sacramento are currently under review with plans to reduce or eliminate minimum parking standards. The City’s Planning Commission has been discussing plans to reduce minimum parking standards over time to promote walkable neighborhoods and districts and to increase the use of transit and bicycles.
According to the published reports; The Zoning Code’s parking requirements for new land uses are outdated and designed primarily for suburban development, as opposed to redeveloping our existing urban and traditional neighborhoods. These existing neighborhoods often include the reuse of lots and buildings that were created prior to the significant increase in the use of the automobile.
The City of Sacramento Zoning Code Parking Update is a citywide effort to fundamentally reform how Sacramento plans, designs, builds, evaluates, and thinks about its parking resources.
Throughout Sacramento there is a large amount of publicly available parking that already exists, but is largely underutilized. While several stakeholders mentioned that on-street parking congestion is a key concern, data show that there is ample off-street parking capacity at peak hour, with almost 46,000 vacant spaces in the Center City alone.
It is increasingly difficult to fit the current amount of parking required into a buildable project as the site and project become smaller.
The Problem:
• Parking requirements can create substantial challenges to not only the cost, design, and development of infill projects but also the community’s perceived negative impacts of the new development.
• Current regulations do not acknowledge the benefits of mixed-use, walkable neighborhoods that are well-served by transit in terms of reducing trips and the need for parking; they also do not provide incentives for owners of existing parking facilities to share their parking when it is not being used.
• Current regulations are inflexible both in how off-street parking can be provided but also in how parking lots are designed.
• Many existing infill sites contain little or no parking.
• New infill development is often expensive and cannot afford the cost or space required for suburban parking standards.
Timeline:
1. Planning Commission Discussion of the Preliminary Analysis March 8, 2012
2. Planning Commission Confirmation of Key Findings and May 10, 2012 Recommendations
3. Law & Legislation Committee Confirmation of Key Findings June 7, 2012 and Recommendations
4. Adoption of Report and Ordinances September 2012
Read more here, here & here.

Wednesday, June 06, 2012

'Cap City Sips' Summer Happy Hour













This summer, Downtown Sacramento Partnership and local downtown businesses have joined forces to create a budget-friendly happy hour promotion for the Downtown District. Each restaurant or bar participating in Cap City Sips will offer a happy hour menu every Wednesday from 3-7pm featuring $2 beers, $3 wine, and $4 cocktails. The deals will continue each week all summer long, today through August 29. Since the price points are exactly the same at each participating location, patrons will have a chance to try multiple venues throughout the course of the 3-monthpromotion.
Participating restaurants and bars to date include 4th Street Grille, Blue Prynt, Capitol Garage, Dive Bar, Fat City Bar & Café, The Firehouse Restaurant, Frank Fat’s, House Kitchen & Bar, Kupros Bistro, The Melting Pot, Michelangelo’s, Monsoon’s, O’Mally’s Irish Pub, Pizza Rock, Public Market Bar (PMB) at The Sheraton, Pyramid Ale House, River City Brewing Company, River City Saloon, Ten22, and Tequila Museo Mayahuel. 

Friday, May 25, 2012

Investor Buys L Street Lofts















Nearly a year after developer Sotiris Kolokotronis mixed-use loft project at 18th and L streets failed to find a buyer in a foreclosure auction on the Sacramento courthouse steps, a southern California investor has paid $21.5 million for most of the L Street Lofts in midtown.  The project was originally built for $55 million and sold 22 of the 92-unit condominium before a suit was filed in 2009 to foreclose.  The now defunct La Jolla Bank, which made a $33 million loan to construct the L Street Lofts was shut down by federal regulators in 2010 and its assets were purchased last year by OneWest Bank.

Source: Sacramento Business Journal

Tuesday, May 22, 2012

$795K in Funding for 16th Street Greenscape














The Capitol Area Development Authority (CADA) has been awarded $795,000 in funding from the Strategic Growth Council Urban Greening Grant Program (Prop 84) for the 16th Street Greenscape Project.  CADA was one of the few agencies to receive funding over $75,000 and was one of 50 projects selected out of 260 applicant proposals.
The purpose of the 16th Street Greenscape Project is to:
 •Reduce storm water runoff from 16th Street and its sidewalks and reduce water pollution flowing to the Sacramento River
 •Significantly increase the amount of permeable landscaped space in the public right-of-way
 •Reduce air pollution and increase shade
 •Educate the public about the environmental benefits of sustainable streetscape design
 •Support and catalyze urban infill development
 •Improve pedestrian safety and walkability
 •Enhance the physical unity of the 16th Street project area
CADA’s Prop 84 funding award will help to complete the project designs, construct seven intersection bulb-outs, install 16 storm water retention units, and plant 28 street trees. 
CADA’s infill project developers are also participating in the construction of 4 intersection bulb-outs, curbs, gutters and sidewalks in conjunction with the publically-funded storm water retention units.
Maintenance will be carried out by the Midtown Property and Business Improvement District PBID, CADA’s project developers/owners, and the Friends of Fremont Park.  In addition to these partners, other key partners include the City of Sacramento Departments of Utilities and Transportation, the University of California, Davis Arboretum and landscape design students, 16th Street property and business owners, CADA tenants, and neighborhood residents.  Public access to all parts of the project will be unlimited and construction is expected to start in Spring 2013.

Monday, May 14, 2012

Capitol Towers Sold for $64 million















Beverly Hills-based real estate investment firm Kennedy Wilson has purchased Capitol Towers, completed in 1960, downtown Sacramento complex that includes a 409-unit apartment tower and low-rise garden apartments.

The Southern California company and its partners bought the property at 1500 Seventh St., for $64 million, with $50 million in financing from HFF/Freddie Mac at 3.51 percent, fixed for seven years.
A partnership controlled by the Bond Cos., a nationally known developer with offices in Los Angeles and Chicago, bought Capitol Towers in June 2007. Property records show the partnership borrowed $43 million on the parcel the same day it changed hands.

Capitol Towers has 203 units in its 15-story tower and 206 villa units surrounding the tower. The villa portion is zoned for up to 1,290 units, and the tower features six ground-floor retail outlets.

Tuesday, May 08, 2012

Fred Mayes Jewelers Clock Restored




























Last week City of Sacramento restored the historic Fred Mayes Jewelers clock to its home at 10th and J streets. Time stood still for the mid-20th century clock for 15 years until repair work began last June. The clock was returned to the period of its historical significance. – the art deco style popular when it was designated as a City historic landmark in June of 1982.

























The clock is likely more than 100 years old, although the first clear evidence is a 1924 photo of the clock in its original design in front of 1009 K St., its original location. The clock on K Street was located outside the Wiesen and Monk Jewelers until the business was moved to its current location at 10th and J in 1946. It stood outside the one-time Mayor Art Monk’s jewelry store. The jewelry store was purchased by Fred Mayes in 1963. Mayes donated the clock to the City of Sacramento in 1993. Mayes retired in 1998. The clock’s exterior is different than when it left for the foundry in June. As historical experts recommended, a stainless steel case be added to prevent vandalism and preserve the original parts.




























Some of the parts of the refurbished clock are new and others original: The mechanical clock movement has been replaced with a modern electronic movement, which will not require winding. The clock will keep accurate time through GPS and will automatically correct itself after power outages or time changes. The imported Italian neon will highlight the art deco engagement style ring design topped off with an illuminated diamond solitaire.

Above info provided by the Downtown Sacramento Partnership

Friday, May 04, 2012

16th Street Streetscape Plan














Next Tuesday the 8th, the City of Sacramento will move forward with plans to improve the streetscape and pedestrian friendliness of 16th Street, the City has evaluated a conceptual plan provided by Capitol Area Development Authority (CADA) and then developed 30% design plans as well as completed environmental review for streetscape improvements on 16th Street from “S” Street to the Capitol Avenue/ “N” Street alley.














The 30% plans show the preliminary design of new streetscape enhancements along the corridor: including new streetlights, curb extensions, landscaping, and traffic signal upgrades. Funding for the projects being provided by CADA in the amount of $160,000. Sacramento Granicus