Convention Center Complex - C3 Project

Memorial Auditorium 2018 renovation to cost $18 million

The first phase of the project began in early June 2018 with the renovation of the Memorial Auditorium at a cost of $16 million adding seating, acoustic enhancements and other audio/visual upgrades. Renovations will enhance the patron’s experience and allow the Auditorium to host all scheduled performing arts events during the renovation of the Sacramento Community Center Theater, which begins Summer 2019.

Convention Center expansion to cost $196 million

The demolition of the Convention Center Administration Offices (Panatoni Building) at the corner of 15th and K Streets will began December 2018. This is a $196 million renovation/expansion of the Convention Center adding meeting rooms, exhibit halls and more lobby and kitchen space.

Community Center Theater renovation to cost $85 million

The Community Center Theater and the Convention Center will close for construction in Summer 2019 and re-open in Fall 2020. During this time, all shows scheduled at the Community Center Theater will be relocated to the Memorial Auditorium, which will have completed its renovation. Meanwhile, conventions and conferences temporarily will be hosted in various venues throughout the city, but downtown hotels will continue to host overnight visitors. At an estimated cost of $85 million, the renovation of the Community Center Theater will enhance the theater’s aesthetic appeal, improve its lobby and make the venue more accessible to disabled patrons.

Follow the construction time line here: http://www.cityofsacramento.org/Convention-Cultural-Services/Divisions/Convention-Center

How this is being funded:

The Sacramento City Council on Sept. 25, 2018 unanimously approved the issuance of up to $350 million in bonds to finance the renovation/expansion of the C3 Project, which includes the Convention Center, the Memorial Auditorium and the Community Center Theater. The bonds will not be repaid from the City’s general fund. Instead, they will be repaid by what’s known as the “transient occupancy tax,” or TOT. This is a 12 percent tax on hotel-room and short-term rental stays used for tourism-related projects.* In addition, local hotels have agreed to pay for the construction of the Convention Centers’ new ballroom, which will cost approximately $45-50 million.

800 K & 801 L Street Development

Looking down on 800 K Street where work is under way on the Bel-Vue

In an another amazing accomplishment, the 800 Block of K Street is actually in the early stage of development, which includes a mixed-use project and adaptive reuse and preservation of the 110 year old Bel-Vue. Currently the rehabilitation of the Bel-Vue is the main focus of work right now with structural support. The Bel-Vue was accepted to the Sacramento Historic Register in 2016. The Kings purchased the land in January for $5.6 million. No cost has been given for completing this project. 

The Bel-Vue getting structural support

801 L Street will be demolished and a mixed-use building will rise

The Bel-Vue getting structural support

The Bel-Vue getting structural support

800 K project rendering, 147 apartment, 20,000 ground floor retail



Read more here: https://www.sacbee.com/news/business/article129894014.html#storylink=cpy

700 K Street - The Harlin

This is still hard to believe, after being K Streets most run down section for over 30 years the 700 block of K Street has been reborn. Both D&S Development and CFY Development are nearly finished with rehab and creating a mixed-use project right next to the Golden 1 Center. The final total cost to date is $60.1 million which is a 25% price jump from the original $48 million. This project added 137 apartment as well as ground floor restaurants and retail.

Development in the 700 block of K Street

The city of Sacramento has donated some of the parcels and will pay about a quarter of the $60.1 million cost through loans and grants. The city contributed $2.6 million and another $13 million in public money also came from affordable housing subsidies, both do not need to be paid back. That is a lot of free stuff, both the land and dollars were giving to the developer.

Development in the 700 block of K Street looking east

The soon to be Solomon's Delicatessen on 700 block of K Street

Development in the 700 block of K Street looking west

8th Street view of the Harden apartment behind the historic store fronts on K Street

7th Street view of the Harden apartment behind the historic store fronts on K Street

7th & L Street view of the Harden apartment rising behind the former bus station

8th & K Street view of the Harden apartment behind the historic store fronts on K Street



8th Street view of the Harden apartment behind the historic store fronts on K Street

Hyatt Centric Sacramento

Marshall Hotel getting make over into Hyatt 1209 L Street, Sacramento‎

One of downtowns most rundown hotels is FINALLY getting a major upgrade. Work began in October on the 11-story Hyatt Centric Hotel at the corner of 7^th and L Street. The shell of the 117 year old Marshall Hotel will remain but behind it a new 172-room hotel will rise. This $68 million project is slated to be finished in two years. Watch for the adjutant Jade apartments to be torn down soon. 


Jade apartments to be demolished

7th street view of Jade apartments adjutant to old Marshall Hotel 

7th & L street conversion of Marshall Hotel into Hyatt Centric hotel

7th & L street conversion of Marshall Hotel into Hyatt Centric hotel

 Hyatt Centric hotel on Seventh Street in downtown Sacramento

Powerhouse Science Center

The historic PG&E power station on Jibboom Street will become the
new Powerhouse Science Center

Work on the $50 million Powerhouse Science Center project looks to be under way. Since the beginning in 2007, planning and financing have been a struggle. The center is scheduled to open in 2020 and replace the old one on Auburn Blvd. The project will include 120-seat planetarium with a hemispheric dome rising above the building’s mass in the 72,000 square-foot facility.

The historic PG&E power station on Jibboom Street will become the
new Powerhouse Science Center

Rendering of new Power House Science Center

 

The Bank Culinary Palace

The Bank - 629 J Street - built in 1912

The historic Mills Bank building at Seventh and J streets has been transformed into fast-casual kitchens.  The 30,000 square foot building will have seven kitchens, several private event rooms, and 68 self-serve beer and cider taps. The main floor has stayed original including golden ceilings, light fixtures and in the basement circular vault doors to the taproom.  The tenant include the Poke Bros., Chocolate Fish Coffee, Mama Kim’s, Preservation & Co., Station 8, Platypus Pizza and street taqueria. Today The Bank opens to the public, I’m looking forward to the experience.

Tower 301 @ 301 Capitol Mall

Proposed Tower 301 mixed-use high-rise at 301 Capitol Mall, Sacramento CA

The Sacramento Business Journal reporting that CalPERS along with developer CIM are submitting plans for their 33-story mixed use tower for 301 Capitol Mall.  This means the developer is pursuing entitlements while also pushing a marking campaign to attract possible tenants. It’s noted in the article that the project would not be built unless an anchor tenant is found. Big projects like this traditionally need to lease 50% of the building before financing is released for construction, in this case 368,500 SF will need to be leased of the 737,000 SF proposed tower.

Proposed Tower 301 mixed-use high-rise
at 301 Capitol Mall, Sacramento CA

 

 

 

 

 

 

 

 

 

 

Developer CIM made some modifications from the previously released version; one hundred apartments that were originally on the top floors of the high-rise are now down at the second through fourth floors facing L Street to the north. The apartment would also be smaller in square footage and more affordable than is typical is such a project.

This proposal does not stand out to me. It is a tall vertical glass box with no distinguishing features. Yeah, it better than a hole in the ground or nothing, but I thought $550 million would create something more. It would not have to be tall, just unique and something that gives people a sense of place verses just another high-rise like the one we see here. Something tells me the market will flush this proposal out also, CalPERS has waited to long to get this going and the market will creator as we have seen before. How likely is it they will pre-lease over 350,000 SF?

Proposed Tower 301 mixed-use high-rise at 301 Capitol Mall, Sacramento CA

Colliers 3Q 2018 Sacramento Multifamily

Colliers International Q3 Sacramento Multifamily Forecast Report

Colliers Internationals Sacramento report showed record sales volume and elevated occupancy. But even with thousands of new units being delivered and in development, construction is still well below pre-2009 when an average of 2,500 units a year were delivered from 2005 to 2008.  Occupancy in the central city has declined 150 basis points over the last 12 months to 94 percent. 285 new units have been completed in Downtown and Midtown since October 2017.

On page 7 of the report Colliers goes into detail of all the residential developments the city can look forward to. The forecast looks good, hopefully developers will continue to be bullish in 2019.

http://www.colliers-sacramento.com/MarketReports/2018_Q3_Multifamily_FINAL.pdf

Natural Resources Building @ 8th & P Streets

Piles are being drilled into the ground at the P Street Natural Resources Building. It’s impressive to visit the work site, the entire block is in use for either preparation or construction of the tower. While there taking the photos, I spoke to someone working on the project asking where tower crane or cranes were going to be placed. The answer surprised me, I was told no tower cranes would be used to build this tower, but one giant mobile crane because the proposed tower was not designed to built with a tower crane. Strange to hear, but that’s how it was explained to me.

OxBlue webcam the Natural Resources Building
construction site at 8th & P Streets

The OxBlue cameras are currently the best was to view the towers progress, but I snapped a few photos anyway. 

Corner P & 7th Streets of Natural Resources Building construction

Corner P & 7th Streets of Natural Resources Building construction

7th Streets view of piles waiting to be drilled
into the foundation of Natural Resources Building

Seen from O Street of Natural Resources Building construction

Seen from O Street of Natural Resources Building construction

From 8th Street of Natural Resources Building construction

From 8th Street of Natural Resources Building construction drilling piles

From 8th & P Streets of Natural Resources Building construction

View from 15th & R Streets of where Natural Resources Building
will rise in the skyline

15Q Progess & Photos

A crane has gone up since I last took photos in July and it appears the 5^th floor has also been completed. 1430 Q is part of the R Street Corridor of development with 8 floors, 75 rental apartments and 9,000sf of retail space.

1430 Q Street, Sacramento CA 95811 - 15Q mixed use 8-story building

1430 Q Street, Sacramento CA 95811 - 15Q mixed use 8-story building

1430 Q Street, Sacramento CA 95811 - 15Q mixed use 8-story building

1430 Q Street, Sacramento CA 95811 - 15Q mixed use 8-story building

1430 Q Street, Sacramento CA 95811 - 15Q mixed use 8-story building

1430 Q Street, Sacramento CA 95811 - 15Q mixed use 8-story building

1430 Q Street, Sacramento CA 95811 - 15Q mixed use 8-story building

1430 Q Street, Sacramento CA 95811 - 15Q mixed use 8-story building

Aerial View Of Downtown Sacramento

CHP Aerial View Of Downtown Sacramento

This is one of the coolest skyline photos I've seen of downtown Sacramento in a while. It's hosted on the CHP website, I'd credit the photographer but no info was given.