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  #2501  
Old Posted Jun 22, 2007, 4:22 PM
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Towering plans fall hard
Sacramento Business Journal - By Gary Chazen

June 22, 2007

A lot is being made of developer John Saca's failure to build The Towers on Capitol Mall -- twin 53-story condominium towers with a luxury hotel and a view that tops all around here.

Some say he lacked the experience to get it done, forgetting conservative financial institutions such as Deutsche Bank and the California Public Employees' Retirement System were willing to put in hundreds of millions of dollars on the project. So, at least at one point, the project had to have been viable.

Sometimes the best laid plans simply don't work out.

Saca shouldn't feel too bad. He's certainly not the first Sacramento visionary to be disappointed.

The same can-do folks who brought the Sacramento Kings to town in the mid-1980s planned to make them the centerpiece of a huge development known as North Natomas, which got built despite being in a floodplain. What didn't get built was the group's proposed $100 million, 35,000-seat sports stadium next to Arco Arena. The plan was for the first phase to be large enough to draw a Major League Baseball team and the second phase big enough for a National Football League team.

Developers Gregg Lukenbill and Joe Benvenuti got as far as building the concrete clubhouse and part of the grandstands before finally pulling the plug in 1993.

In 1987, two years after the Kings arrived, developer Angelo K. Tsakopoulos put together a $100 million bid to bring the Los Angeles Raiders to town. The city of Sacramento even agreed to pony up the $50 million owner Al Davis was demanding as an incentive to move. He didn't, and the city's taxpayers saved the $50 million -- not to mention the headache of dealing with Davis' constant demands.

Then there's Lot A. Some city bureaucrats still can't speak of it without wincing in pain. Lot A was a city-owned parking lot on the 600 block of Capitol Mall where David Taylor's U.S. Bank Tower is now being built and where Aura would go if that towering condo project ever gets off the ground.

In 1988, the city held a contest to come up with suitable projects for the prime real estate. Late developer Peter McCuen came out on top, partnering with Rockefeller & Associates Realty, presenting a 40-story office building with a 20-story cylindrical Ritz-Carlton hotel.

But the recession of the early 1990s eventually killed that project. The city was so desperate to get something built it offered to sell the lot for $1. Nobody bit. It remained a parking lot until Taylor bought it for $11 million in May 2001.

And we're not even going to get into the recent downtown arena debacle, which taxpayers voted down in November.

Then, there's the irony of Metro Place. Developer Dean Ingemanson in 1999 bought a parcel at 9th and J streets in downtown Sacramento and unveiled plans for a 32-story office/apartment building. Lack of financing killed that project in 2002.

Ingemanson's partner in that project was Southern California developer CIM Group Inc., which eventually went on to build what's now known as 800J Lofts on that site, an elegant seven-story structure with 225 loft-style apartments.

CalPERS, which bought out Saca from his obligations with The Towers, has now partnered with CIM to come up with something else for 301 Capitol Mall -- the site for Saca's dream development.

Saca, for his part, is moving right along with plans for "The Metropolitan," a 39-story condo tower at 10th and J streets. If built as planned, it would be the city's tallest structure.

Given Sacramento's history with grandiose projects, The Metropolitan's odds are not good. But as downtown's history shows, something great will eventually be built there.
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  #2502  
Old Posted Jun 22, 2007, 6:00 PM
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BrianSac: The Mills Act isn't usable in Sacramento yet, as the city council hasn't decided on how to deal with it. The Preservation Director is working on that, though.

I'm more just kind of "meh" about the 800 J building: it's not awful, it just could have been better (especially if it incorporated the Coolot.) Personally I think they should have gone taller there, situated as it is between the Darth Vader building and the US Bank tower (my personal fave for newer tall buildings in Sacramento--US Bank seems to have a knack for getting cool buildings.)

Oh, by the way, that photo isn't the Coolot, it is the other one-story building I mentioned. The Coolot was the Victorian-era structure on J Street. I just didn't have a photo of the Coolot handy: I have a photo of the top of the Coolot (behind its plywood wall) somewhere, and wish I had taken more. Once I find it I'll scan it and post it, though.

The other building I like because I'm a big fan of urban grit, and that corner was gritty as heck (and home to the greasiest diner in Sacramento.) While I miss it, it wasn't really a landmark to save like the Coolot was.

About adaptive reuse: In general, yeah, I'm all about finding new uses for old buildings. The firehouse on 19th is a classic example (oh yeah, after the firehouse but before New Helvetia (the cafe/bakery) it was a "shooting gallery" for local heroin addicts.) There are exceptions, like the SP depot but no, I don't think every building should maintain identical uses forever. Plenty of buildings in town have had plenty of lives: Hamburger Mary's was a Sam's Hof Brau, the Beat was a hardware store, the SN&R offices were a funeral parlor, etcetera.

As to City Hall: I'm not sure why that is an example. Someone mentioned an interest in maintaining the fire-department structure, which was denied, and the building was restored. Part of the process of making decisions like this is deliberative: not everyone is going to agree, and sometimes it takes time to make a decision, but in the end it sounds like everything works out. If people have differences of opinion during the process, that means the system is working the way it is supposed to.
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  #2503  
Old Posted Jun 22, 2007, 11:45 PM
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Well I must say it is pretty disappointing to know that Sacramento could have had a MLB and a NFL team. That would have been absolutely wonderful.
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  #2504  
Old Posted Jun 23, 2007, 1:30 AM
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Originally Posted by JeffZurn View Post
Well I must say it is pretty disappointing to know that Sacramento could have had a MLB and a NFL team. That would have been absolutely wonderful.
We had a great chance of getting the A's (...and maybe even the Raiders in the early 90's) to move here but nobody in this city wants to step up and get something done. Instead, we have the River Cats and probably another minor league hockey team (see the arena thread).
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  #2505  
Old Posted Jun 23, 2007, 5:26 PM
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Fill in the blank
Local leaders dig deep to dream up a use for Towers hole
By Lisa Heyamoto - Bee Staff Writer

It was about halfway through a harebrained brainstorming session when Old Sacramento Manager Ed Astone drew a very sensible conclusion, indeed.

"What do you put in a hole?" he mused, rolling the question around in his head like dough in a KitchenAid mixer. "Well, you put stuff in it."

Indisputably true. But what kind of stuff? And what sort of hole are we talking about?


What if, for example, you have a hole in the ground about a square block in area and oh, several dozen feet deep and -- theoretically speaking -- about large enough to host twin 53-story towers that could potentially house a luxury hotel, high-end retail space and 804 upscale condo units?

What could you do with a hole like that?

Well, you could replace the conjectural twin tower condo idea with a much-scaled back condo idea, say, after the twin tower idea proved too ambitious and an imaginary state employee pension fund pulled its invested money out and an L.A.-based company stepped in to fill the proverbial and actual hole at Third Street and Capitol Mall.

You could do that.

But Astone's got a better idea.

"Christmas tree farm," he says with certainty.

The unofficial mayor of Old Sac said they had a heck of a time transporting last year's 66-foot Christmas tree from a farm near Colfax to its intended destination.

A big hole, he reasons, could grow a big tree. And with his annual need combined with the requisite Christmas trees at the Downtown Plaza and the Capitol, he figures there would be at least three guaranteed buyers.

On second thought, he's got an even better idea.

"How about a monument park for all of the fired Kings coaches?" he suggests.

Only if you want Reggie Theus to never set foot downtown.

Even better, Astone says, after giving it some more thought, how about a big park sponsored by Wells Fargo, planted with field after field of deep purple heather?

The name of the park?

Astone reveals it with no small amount of glee: Wells Heather Fargo Park.

But he's onto something with the park idea.

Mike Testa, vice president for communications at the Sacramento Convention & Visitors Bureau, believes the city could use something that keeps visitors coming back.

Perhaps, he offers, a Gold Rush theme park?

Family-oriented, and with roller-coaster cars shaped like mining cars, of course.

"I think it would be a pretty good attraction in the heart of the city," he said.

But why not, ponders local development consultant Al Gianini, take something Sacramento is already known for and put that in the hole?

Gianini envisions a giant saltwater tank built solely to house the next wayward whales to wander our way.

"It would be the Sea World of Sac," he said. "That would be neat."

And while we're on the subject of water, it seems like it would be awfully easy to turn that big ol' hole into a huge public swimming pool.

That's Josko Susnjara's suggestion, anyway. The manager of Il Fornaio, which might hypothetically happen to be across the street from this mythical giant hole, says the best idea would be to pave it, fill it with sand and open it to the public.

"We'd serve sandwiches on the beach," he says, ever the businessman.

This much is certain, everyone agrees: The hole's gotta go. Because Sacramento needs a hole in the middle of downtown like it needs a ... well, you get the point.


Huh.. Christmas Tree Farm?, a block-size Sea World or a block-sized "family-oriented" (its always a family this or that in this town) Gold Rush theme park? A bunch of us were sitting around the table at the coffeehouse this morning and I was reading this article and I looked up and everyone was collectively rolling their eyes. Someone said "What a bunch of small town hicks".

I know they were half-joking..but I think the Ed from Old Sac and Mike from the SC&VB from might have been half serious.
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  #2506  
Old Posted Jun 24, 2007, 6:47 PM
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More proof Sac city "leaders" are morons
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  #2507  
Old Posted Jun 24, 2007, 7:32 PM
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I assumed the article was done in humor when I read it yesterday. I don't think anyone is supposed to assume that is a serious discussion. I think the buildings in Rosslyn VA wouldn't be bad, though not the Towers.
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  #2508  
Old Posted Jun 24, 2007, 8:02 PM
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This article is by no means to be taken seriously. But on the other hand, if they were serious or even half serious then this would show just how idiotical the leaders of this region are even though the above said ideas for the "hole" would never be built it still is amazing how someone up there would even say anything like this. 'Cmon people we have to get serious here.
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  #2509  
Old Posted Jun 24, 2007, 11:57 PM
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Of course, it wasn't supposed to be taken seriously. However, no one around the table thought these guys were being very cleaver. I think we all thought that this is really not the time for this type of BS -especially from this group of 'old guard' Sacramentans and considering a few of us know some of these people and maybe do not have high opinions of them.
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  #2510  
Old Posted Jun 25, 2007, 12:29 AM
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I guess the people interviewed for that article were trying to be funny. Too bad they came across as redneck idiots.
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  #2511  
Old Posted Jun 25, 2007, 2:41 AM
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Originally Posted by jsf8278 View Post
I guess the people interviewed for that article were trying to be funny. Too bad they came across as redneck idiots.
My thoughts exactly....
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  #2512  
Old Posted Jun 25, 2007, 10:44 PM
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I guess the people interviewed for that article were trying to be funny. Too bad they came across as redneck idiots.

yeah, I thought the same thing..

Once again the bee looks like the Mayberry news and review, and the people they interviewed came across looking even worse...
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  #2513  
Old Posted Jul 9, 2007, 12:41 AM
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So, what's the current status of this?
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  #2514  
Old Posted Jul 9, 2007, 12:50 AM
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^The original plan of two 54 story has been cancelled. The developer ran out of money and was bought out by his equity partner. As I understand, the equity partner brought in its own architect to design a new proposal for the site (which will undoubtebly be much scaled down from the original). As of now, we're just waiting to see what they propose and watching the grass grow in the giant pit in downtown.
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  #2515  
Old Posted Jul 9, 2007, 4:57 AM
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As of now, we're just waiting to see what they propose and watching the grass grow in the giant pit in downtown.

hahaha, well put.
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  #2516  
Old Posted Jul 11, 2007, 1:44 AM
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I drove past today and the "Now Selling Phase Four" signs are still up. "Where Donald Trump Would Live" is gone.

Last week Trump signed a letter of intent to purchase 420 acres in Fresno for$40 million. He wants to finish Fresno's stalled PGA-level Wild Hourse Golf Course plus the luxury homes that were to surround it.

And CalPERS just bought the KOIN Tower in Downtown Portland for $108 million.

Life goes on...

What are the people who put down deposits at 301CM doing? Waiting for the Metropolitan? 18th and L? Staying in the suburbs? Wait and see?
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  #2517  
Old Posted Jul 11, 2007, 3:53 AM
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Originally Posted by Phillip View Post
I drove past today and the "Now Selling Phase Four" signs are still up. "Where Donald Trump Would Live" is gone.

Last week Trump signed a letter of intent to purchase 420 acres in Fresno for$40 million. He wants to finish Fresno's stalled PGA-level Wild Hourse Golf Course plus the luxury homes that were to surround it.

And CalPERS just bought the KOIN Tower in Downtown Portland for $108 million.

Life goes on...

What are the people who put down deposits at 301CM doing? Waiting for the Metropolitan? 18th and L? Staying in the suburbs? Wait and see?
I'm going to take the "wait and see" approach. I'm still hoping to live in a high-rise someday but it's hard to imagine I'll find a place I liked as well as I did The Towers (for the same $$$).
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  #2518  
Old Posted Jul 12, 2007, 5:22 AM
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Having just come back from the Pacific Northwest, it was disheartening to see so many cranes both in Portland and Seattle (I mean as a Sacramentan --good for them!), and after checking Skyscraper it turns out most of them are residential ...I mean, they're struggling here to get 2 (residential) towers up...it's just frustrating ....I did notice most of them are in the 15-30 story range, and i truly believe we should've concentrated on getting started with smaller scale projects before going grand scale...oh well, just my .02 cents
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  #2519  
Old Posted Jul 12, 2007, 5:31 AM
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Originally Posted by robw340 View Post
Having just come back from the Pacific Northwest, it was disheartening to see so many cranes both in Portland and Seattle (I mean as a Sacramentan --good for them!), and after checking Skyscraper it turns out most of them are residential ...I mean, they're struggling here to get 2 (residential) towers up...it's just frustrating ....I did notice most of them are in the 15-30 story range, and i truly believe we should've concentrated on getting started with smaller scale projects before going grand scale...oh well, just my .02 cents

Market is here for sure, no doubt. The problem is and always has been financing. Just not enough developers in Sac with $$
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  #2520  
Old Posted Jul 21, 2007, 6:42 PM
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Anyone want to speculate when CIM might go forward with their planned completion of the foundation work for the towers. I imagine they are holding out until there are some definitive plans for the site but since they are keeping the same footprint from the news release they put out after Saca's buyout I was hoping it would be sooner than later. As with all large projects, especially here in Sac, much later is always a good guess.
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