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Originally Posted by urban_encounter
There have been a number of commercial office buildings transactions according to brokers as a direct result of the proposed ESC. The mall itself was sold twice, once from Westfield and a second time from JMA.
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Are you saying that JMA had advance knowledge of the arena plan, and bought the mall from Westfield specifically to re-sell to a new Kings ownership group for this arena plan?
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Proposals for apartments, condos, boutique hotels and now 301 CM (again). I personally hate the term "world class city". We don't need to be world class. But we do need to help create an environment that puts people to work paying decent wages. We need to be the most livable city. Will it work? We'll see. But we know the status quo was an enormous failure, relying upon suburban housing starts and strip malls. People want to live DT. People want civic amenities. The time is now. There's probably no city with so much vacant land that stands to gain from ancillary development than Sacramento. A 2010 study by the London School of Economics showed that stadiums with the wow factor did provide additional surrounding economic benefit. For me personally I can define my idea of economic benefit in one word HOUSING. We need a lot of it downtown.
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How many housing units are required in the current arena plan? There's a maximum of 550 units--but no minimum. I will remain skeptical until we actually start seeing housing projects submitted or under construction in the CBD--not in already residential areas around the arena, where land is cheaper and the housing market has already turned red-hot again over the past few years.
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