Sacramento: 301 Capitol Mall: A New Plan for The Towers Site - Page 113

arod74 · #**2241** Posted **May 30, 2007, 11:18 PM**

Not sure if anyone has checked out CIM's website but it might shed some light on what they might recommend for the sight.

http://www.cimgroup.com/

It looks like most of their projects are either refurbs of older buildings or smaller scale lofts like 800J. One project that is very interesting is their Sky Lofts. It looks like the only project they have done that combines office space and housing. Look for it in their downtown LA properties. A 22 story building with the 11 top floors dedicated to residential broken down in 132 units. This might be very similar to what they will propose to Calpers here.

dcox20 · #**2242** Posted **May 30, 2007, 11:24 PM**

i'm a fan of CIM - not too in-love with 800j's exterior but would buy a PH there in a heartbeat if they offered them for sale - just can't see leasing something like that.

If something does happen at 301cm - CIM taking over or someone else... as long as it starts rising out of the ground and gets above the treeline we'll seriously consider buying a place. just don't do a lease-only situation... blechh

slaiguy · #**2243** Posted **May 30, 2007, 11:39 PM**

I looked at the CIM web page, checked out the SkyLofts in DT LA. Maybe something like their 9th and Hope project could get built, a 34 story residential tower.

foxmtbr · #**2244** Posted **May 30, 2007, 11:44 PM**

^ I just looked at that too. It's not too shabby, I'd be okay with that.

RichmondMitch · #**2245** Posted **May 31, 2007, 12:18 AM**

^ Sorry, but I think that something along the lines of the 350' 9th & Hope tower would be a dud. It will zap some of that pent-up demand for downtown highrise housing. Increasing that demand is a good thing -- it strengthens the case for going vertical in a serious way.

If a couple of hundred buyers settle and buy-in to something like that, it will be that much longer for new buyers to step in and fuel demand for the kind of tower(s) we long for and deserve.

snfenoc · #**2246** Posted **May 31, 2007, 1:34 AM**

Quote:

Originally Posted by BrianSac

Snfenoc,
The CIM 801 J Street building is mediocre at best...I hate the way the front of the building faces north.

You are being kind. I hate everything about the building.

I hate its vast, sprawling girth and its short stature (800 J = George Costanza). I hate the stupid, sculpted guardrails that line the balconies. I hate that dumb feature at the top on the corner - it angles upward as if desperately trying to convince you that 800 J is taller than it really is. I hate the frame. I hate the plumbing. I hate the electrical system. I hate the skin. I hate the appliances. I hate the floors. I hate the drywall. I hate the nails. I hate the screws. I hate the paint. I hate the windows. I hate the countertops. I hate that building.

Check out the website, click on the photo gallery link and look at picture # 5: I hate that yoga chick and her hubby - she's sitting there thinking, "I'm a self-important yoga chick living in crappy building." He's scanning the plaza thinking, "Where are my testicles? I wonder if one of those bums lounging in the plaza stole 'em." I hate the residents (I sincerely apologize to those of you who have the misfortune of living in that detestable building). I hate the cars that are parked in the garage. I hate the staff. I hate the construction workers who built the building. I hate CIM. I hate the City for EDing Dean Ingemanson. I hate 800 J Street.

Hate it. Hate it. Hate it. Hate it. Hate it. Hate it.

I hate it.

Did I mention I hate 800 J Street??

I will now remove the tongue that is firmly planted in my cheek.

ozone · #**2247** Posted **May 31, 2007, 1:51 AM**

Just so I don't mis-understand you. Are you saying that you dislike the CIM 801 J Street building snfenoc?

creamcityleo79 · #**2248** Posted **May 31, 2007, 3:33 AM**

Quote:

Originally Posted by arod74

I wonder about what CIM can do to keep those who have already signed contracts from walking out. Im pretty sure that most of these people signed on to have access to services like the fitness center, hotel concierge, and most importantly the height/views. I am not too confident about them keeping the intercontinental hotel portion of the project and who knows about all the other amenities. If I had to wager a guess, the safest bet for Calpers/CIM would be a lower quality hotel operator plus some scaled back condos along the lines of the new Marriot. And probably similar size unfortunately.

Why would the quality of the hotel have to be lower just because the height is?

arod74 · #**2249** Posted **May 31, 2007, 4:13 AM**

Quote:

Originally Posted by neuhickman79

Why would the quality of the hotel have to be lower just because the height is?

My reasoning is that the Intercontinental brand caters to a much smaller group of travelers. I assume Saca targeted them to lend the project a little cache. It would make sense to me that a lower end operater would have a better chance to be profitable and fill rooms if they were able to offer their rooms at rates that a broader customer base could afford.

BrianSac · #**2250** Posted **May 31, 2007, 5:06 AM**

Quote:

Originally Posted by snfenoc

You are being kind. I hate everything about the building.

I hate its vast, sprawling girth and its short stature (800 J = George Costanza). I hate the stupid, sculpted guardrails that line the balconies. I hate that dumb feature at the top on the corner - it angles upward as if desperately trying to convince you that 800 J is taller than it really is. I hate the frame. I hate the plumbing. I hate the electrical system. I hate the skin. I hate the appliances. I hate the floors. I hate the drywall. I hate the nails. I hate the screws. I hate the paint. I hate the windows. I hate the countertops. I hate that building.

Check out the website, click on the photo gallery link and look at picture # 5: I hate that yoga chick and her hubby - she's sitting there thinking, "I'm a self-important yoga chick living in crappy building." He's scanning the plaza thinking, "Where are my testicles? I wonder if one of those bums lounging in the plaza stole 'em." I hate the residents (I sincerely apologize to those of you who have the misfortune of living in that detestable building). I hate the cars that are parked in the garage. I hate the staff. I hate the construction workers who built the building. I hate CIM. I hate the City for EDing Dean Ingemanson. I hate 800 J Street.

Hate it. Hate it. Hate it. Hate it. Hate it. Hate it.

I hate it.

Did I mention I hate 800 J Street??

I will now remove the tongue that is firmly planted in my cheek.

Tongue firmly planted in cheek

Now that you mention it, I hate more things about it too,

But, I do like the designer guard rails and the corner feature on the roof.

The yoga chick is my ex-wife, and I dont like her either....... Just kidding

ozone · #**2251** Posted **May 31, 2007, 5:05 PM**

I knew CIM/CalPERS would come up with something very appealing.

foxmtbr · #**2252** Posted **May 31, 2007, 6:12 PM**

urban_encounter · #**2253** Posted **May 31, 2007, 9:37 PM**

Quote:

Originally Posted by travis bickle

Give me the hole in the ground any day. We'll be stuck with that for maybe five years.

Five years travis?

Think longer

For those forumers stating a preference for a hole in the ground (hoping that a skyscaper might be built in a few years), instead of a quality high density project, I have to ask; is the goal to create a vibrant city, with lively streets, dining, entertainment and more downtown housing, or is it about having a tall building??

As far as prefering a hole in the ground, I would remind those of you hoping for that senario to be careful what you wish for, because you may just have that hole for much longer than you bargained for.

Here's a couple of reminders for you..

Lot A (20 years of talking, two RFPs and now 621 is finally u/c)

500 Capitol Mall (The old Wells Fargo sat empty for 15 years)

800 block of J street (Thank CIM for changing that)

The waterfront (still waiting)

Arco Park (Big unfinished hole)

and plenty of other examples

If CIM and Cal Pers determine that a project can't pencil out, I will guarantee you that that the lot will remain unbuilt for at least 15 years and then when a proposal finally does come forward you will see a 25 to 30 story office building proposed that shuts down at 5:00 p.m.

Instead of hoping for a hole in the ground, you should be hoping that the best creative minds at CIM and Cal Pers can figure out a way to finish what remains undone at 301 CM..

urban_encounter · #**2254** Posted **May 31, 2007, 9:41 PM**

Quote:

Originally Posted by snfenoc

Skyscrapers alone may not define a city, but they certainly are an important aspect of the overall definition.

So is having people living downtown.

vicinsac · #**2255** Posted **May 31, 2007, 10:18 PM**

John spoke at the arabic chamber of commerce a few nights yesterday. He really does have great vision for this city. He had a really motivational speech.

The ball is in Calpers hands now. They will make the next move. After everything settles with what Calpers is going to propose john is going to concentrate on his Metropolitian project on j and 10th. He's just going to build it himself and with his father, no equity partners.

urban_encounter · #**2256** Posted **May 31, 2007, 10:23 PM**

Quote:

Originally Posted by vicinsac

After everything settles with what Calpers is going to propose john is going to concentrate on his Metropolitian project on j and 10th. He's just going to build it himself and with his father, no equity partners.

It's good to hear that he intends to stay with it, by developing the Metropolitan. He is an incredible visionary. Unfortunately 301 CM was too big at the wrong time. A year earlier and it probably would have been built.

The Metropolitan will be a wonderful addition to DT Sacramento.

sugit · #**2257** Posted **May 31, 2007, 10:35 PM**

You're info has been solid up to this point, vicinsac. Including that the projet was going down. So I have no reason to not believe you.

Wasn't it Saca's father who actually bought the property at 10th and J? I thought I read his father needed to do a 1031 and they bought that property when doing it.

vicinsac · #**2258** Posted **May 31, 2007, 10:38 PM**

Thats true maybe it was at the wrong time, but according to John he thinks that he would have pulled it off if it wasn't for that new investment officer that joined Calpers.

That new investment officer is a relative of Angelides who has close tie's to Tsakopolous'. I wonder if that had anything to do with it.

The original investment officer that retired was all for the project and would have influence everyone at PERS to up their investment to cover construction costs. After the leadership changed at the real estate division at PERS, thats when the shit hit the fan and they started to screw John.

vicinsac · #**2259** Posted **May 31, 2007, 10:40 PM**

Thanks sugit.

I think you are right on about 10th and J.

SacTownAndy · #**2260** Posted **May 31, 2007, 10:41 PM**

Quote:

Originally Posted by urban_encounter

For those forumers stating a preference for a hole in the ground (hoping that a skyscaper might be built in a few years), instead of a quality high density project, I have to ask; is the goal to create a vibrant city, with lively streets, dining, entertainment and more downtown housing, or is it about having a tall building??

I see where you're coming from Urban, but my thought on it all is that there are many more ample sites around DT and MT that are more suitable for a mid-rise residential project than here. I'm more concerned with the site rather than the project. Meaning, that in my opinion that site is key for a large catalyst project and deserves nothing less. Skyscraper or not, an 800J-ish type development there would be a huge opportunity lost (as opposed to what that site could dictate) and somewhat out of place. Again, just my personal opinion.