Sacramento Proposal/Approval/Construction Thread - III

[urban_encounter]

Originally Posted by BrianSac

Although I'm glad you are pointing out Jone's hypocrisy!!

Yeah my point is only about Jones voting hypocrisy, not a commentary on L.A.'s overall bid effort....

[arod74]

Originally Posted by BrianSac

I understand, but sometimes it just feels GOOD.... to express my frustration by making fun of the situation.



I agree. I've participated by attending workshops, neighborhood meetings, and I usually post in the BEE. I could do a lot more though.

Totally agree Brian. Sometimes when things don't go how we would like them, all you can do is make light of the situation. From a born-and-raised sactown kid, all I want is the best for the city and I know everyone else here does also greenmidtown .

[otnemarcaS]

Originally Posted by SacRising

Gonzales is making significant strides for CSUS compared to what Gerth did...or didn't do for that matter. BAck in 1984-85 when Greg Lukenbill was bringing the Kings to Sac from KC, he proposed to put an arena at Sac State as a temporary home for the kings while Arco was being built. Gerth said 'no thanks' b/c it would cause too many parking and traffic hassles.

Yeah, I remember this too. There were other liabilities that essentially would have taken too much time to build the arena at Sac state since the Kings needed a new arena fast. Sac State could have had a nice 10,000 seat on campus arena but Gerth essentially nixed the idea. The best thing that'll move Sac State athletics forward was the retirement of Donald Gerth as president. He did not see the value of sports as part a student's university experience.

[Fusey]

Didn't Gerth also nix a light rail stop at Sac State?

[Grimnebulin]

Originally Posted by Majin

What exactly is wrong with Sac State? I go there and it's a good school. Nearly everybody I've talked to who has transfered from different schools (including SF State, San Jose State, San Deigo State, etc) has told me it's a great school. We have great professors here thats taught all over the country and have lots of experience.

Don't understand what the hate is with Sac State.

The supreme stirrer of sh!t didn't catch my sarcasm?!? The wink at the end didn't give it away? Maijin - I'm very disappointed.

Sac State is actually a good school for what it is and what it costs to get through. To try to compare it to UCs or some private schools is unfair. Like all Cal State schools, it's purpose is a very practical application of knowledge, whereas the UCs verge much more into the theoretical realms and high end research.

And while it is true that a lot of Sac State graduates do go on to work for the state (my dad for 10 years, my mom for 20 years), Sac State did prepare them well for the next steps in their careers. They both started their own businesses that now employ about 45 people here in Sacto. So in all honesty, I can say that Sac State gave them a solid background and education that helped them to succeed in life. Sac State =

[joninsac]

Loan for luxury condo project held up
City says delay just a minor issue for Aura tower downtown.
By Terri Hardy - Bee Staff Writer
Published 12:00 am PDT Friday, March 30, 2007
Story appeared in METRO section, Page B2


A proposal to build the Aura Condominiums tower on Capitol Mall downtown has hit a snag as its developer works to nail down crucial financing.

City officials say the delay is a bureaucratic one and isn't an indication that developer Craig Nassi and his luxury condos -- which civic leaders see as a key catalyst venture downtown -- are in trouble.

"He's still in the game," said Assistant City Manager John Dangberg.

Nassi declined to be interviewed but said in a brief e-mail message: "The banks are very deep in paper, and people need their time."

The loan delay will mean a chain reaction of missed deadlines.

Nassi will be unable to exercise his option to buy the Capitol Mall property by the end of the month, Dangberg said. David Taylor, the owner of the property at 601 Capitol Mall, has agreed to extend that deadline until May 20.

Also, Dangberg said he will ask the City Council next week to delay its consideration of a $10 million loan to Nassi, needed by the developer to bridge a funding gap in the project. If the council agrees to consider the loan on May 22, Nassi would have more time to hammer out his land deal and bank financing.

Nassi proposes a 39-story tower with 328 parking spaces and ground floor retail. The building is being designed by renowned architect Daniel Libeskind.

Nassi will receive a $132 million loan from Corus Bank. It's a second loan of $14.5 million from MeeCorp Capital Markets that has been delayed, Dangberg said.

Dangberg said he has talked to the investment group and has been told the group approved the loan.

"They're working on details and documentation," Dangberg said. "We've encouraged them that timing is of the essence and they said they would try to get on it next week."

About the writer:
The Bee's Terri Hardy can be reached at (916) 321-1073 or [email protected]

http://www.sacbee.com/101/story/146791.html

[doriankage]

I thought this was a nic pic of sunrise over 621.

[sugit]

That article looks pretty darn promising. We've waited this long, what's 6 more weeks. Now if I have to say that again in 6 weeks, I'm going to be pissed!

[BrianSac]

Originally Posted by Grimnebulin

The supreme stirrer of sh!t didn't catch my sarcasm?!? The wink at the end didn't give it away? Maijin - I'm very disappointed.

Sac State is actually a good school for what it is and what it costs to get through. To try to compare it to UCs or some private schools is unfair. Like all Cal State schools, it's purpose is a very practical application of knowledge, whereas the UCs verge much more into the theoretical realms and high end research.

And while it is true that a lot of Sac State graduates do go on to work for the state (my dad for 10 years, my mom for 20 years), Sac State did prepare them well for the next steps in their careers. They both started their own businesses that now employ about 45 people here in Sacto. So in all honesty, I can say that Sac State gave them a solid background and education that helped them to succeed in life. Sac State =

I earned my Bachelor's of Science at Sac State and look at how screwed-up I am; it must be a horrible school,

[SacTownAndy]

With all this highrise drama over the last two months, sometimes I feel like I'm watching a damn soap opera!

[goldcntry]

Originally Posted by ltsmotorsport

... And what exterior renovation are they doing to the "Emerald Tower"?

To my knowledge, the only renovation here in the Emeral Tower is a new ground floor tenent going in. I'll try and nose around today and find out who it is.

In other business, here's crossing my fingers and saying a prayer that Aura gets everything financially together in the next couple of weeks. We can't lose another project down here on the Mall! A quick note on the wetlands restoration brough to you by CalPERS at 301 Capitol Mall... no wildlife in existance this morning... pond scum is quickly taking over the south tower basement. I thought I saw an egret for a second there... nope. Only an abandoned white plastic grocery bag lofting lazily across the lot.

After winter's wait
Tall towers should be rising
Yet, the lot is bare

Gone are the craftsmen
Their labors now abandoned
Pylons in the mud

Spring's winds blow softly
Brushing through the scub and grass
Echoes from the lot

[SacRising]

Originally Posted by Fusey

Didn't Gerth also nix a light rail stop at Sac State?

Sure did. That old Yoda-looking fool did not use the force. Fear, ingnorance, shortsightedness, the dark side are these.

Now I think they are working on Parking structure Number 17. Soon, the ground floor of the university will be elevated to the 5th floor of the parking structure that runs throughout the entire campus.

[SacRising]

Originally Posted by goldcntry

After winter's wait
Tall towers should be rising
Yet, the lot is bare

Gone are the craftsmen
Their labors now abandoned
Pylons in the mud

Spring's winds blow softly
Brushing through the scub and grass
Echoes from the lot

He dug a big hole on the Mall
Then ran out of money last Fall
CalPERS said 'No'
We want full control
Now he bangs his head against a wall

[innov8]

Right now they are hoisting up the last three sections for the crane extension at 621CM

[aufbau]

^^Coming back from Rancho Cordova this afternoon, I could've sworn the crane tower was taller than previously, it looked as if it was a taller than wells fargo. I thought it may have been the angle, but I guess I was right intially.

I suppose they will start the crown feature next week?

[Dieler]

Originally Posted by goldcntry

After winter's wait
Tall towers should be rising
Yet, the lot is bare

Gone are the craftsmen
Their labors now abandoned
Pylons in the mud

Spring's winds blow softly
Brushing through the scub and grass
Echoes from the lot

Looks like we have a strong candidate for forum poet lauriet. Love the creative haiku!

[Texicali]

The big downtown towers are nice, but what will really make sacramento interesting is the proliferation of mixed-use mid-rises shorter than 4-6 stories tall. The mid-rises create the funky neighboorhoods where you want to get out of your car and mix with people. The towers are for putting Sacramento "on the map", which frankly I couldn't care less about.

Even with the downtown in the housing market the midrise projects are coming, and Sacramento is putting the General Plan and zoning code in place to allow it to happen. I haven't been in Sacramento that long but things are improving even in that relatively short time span. Take a longer view.

[urban_encounter]

Originally Posted by Sac Bee

Loan for luxury condo project held up
City says delay just a minor issue for Aura tower downtown.

Nassi will be unable to exercise his option to buy the Capitol Mall property by the end of the month, Dangberg said. David Taylor, the owner of the property at 601 Capitol Mall, has agreed to extend that deadline until May 20.


Nassi will receive a $132 million loan from Corus Bank. It's a second loan of $14.5 million from MeeCorp Capital Markets that has been delayed, Dangberg said.

Dangberg said he has talked to the investment group and has been told the group approved the loan.

"They're working on details and documentation," Dangberg said. "We've encouraged them that timing is of the essence and they said they would try to get on it next week."

Originally Posted by sugit

That article looks pretty darn promising. We've waited this long, what's 6 more weeks.

Agreed!

Originally Posted by sugit

Now if I have to say that again in 6 weeks, I'm going to be pissed!

Agreed!


I'm still curious though how they're going to deal with their contractual time constraints??

[brandon12]

UE: If by contractual time restraints, you're referring to obligations to the buyers, then you may have to look no further that 3 blocks to the West. Nassi may follow a similar strategy. Just a guess- I have no idea...

[urban_encounter]

Originally Posted by brandon12

UE: If by contractual time restraints, you're referring to obligations to the buyers, then you may have to look no further that 3 blocks to the West. Nassi may follow a similar strategy. Just a guess- I have no idea...

Your probably correct.....

I suspect that's one reason that they've decided to restart sales, so as to give them a cushion; which makes good business sense.