I went to the East End Gateway thing at CADA last night. Here are a couple of pics of East End Gateway Sites 2 & 3:
The info:
East End Gateway Site 2:
NW Corner of 16th & O Streets
4 Stories tall. About 60' to the top of the tower feature
12 1br/1ba and 12 2br/2ba -- 24 units total
5,816 square feet of retail/commercial/office space on the ground floor
36 parking spaces
East End Gateway 3
SW Corner of 16th & O Streets
5 stories tall. About 77' to the top of the tower feature
48 1br/1ba and 12 2br/2ba -- 60 units total
8,087 sqaure feet of retail/commercial/office space on the ground floor
The CADA Board (if everything is OK) should approve the schematic design and financing strategies for East End Gateway Sites 2 & 3 in November (at the November 1 meeting???). From there, CADA must enter into an agreement with the developer (Ravel Rasmussen Properties & Separovich/Domich Real Estate) - some time in December (again, if everything is OK). Construction would start in the Spring or Summer of 2008.
They hope to land a Mexican restaurant for one of the buildings (Do we need another Mexican place), Ravel Rasmussen is talking with a local restaurant group.
As you can see, the architecture has a Spanish/Mexican theme to it. The walls will be clad in stucco with wood and metal trim/features. The roof of each building will be tile. The interior finishes will be very nice (10' ceilings, granite counter tops, etc.). These will be higher-end market rate apartments. (I hate being poor). Management from Fremont Mews and 18th and L were asking probing questions trying to figure out the rents (trying to make sure their absurdly expensive prices are not too absurd, I guess).
I asked the architect (Christopher Wilson of Stantec Architecture (formerly Chong Partners Architecture)) about the Spanish theme and stucco walls:
1) Will these buildings look as cheap as the La Quinta Inn, I mean, The Fremont Building? His answer was a definite
NO.
2) I'm a little worried about the stucco walls, I noticed some of the stucco buildings here in Sac have not held up well (lots of cracking, chips, paint coming off, etc.). What can you say about the quality of the stucco walls you propose? He noted that some buildings are cheaply done, having only a single coat of cementitious material over a styrofoam-like substrate. He said the stucco walls for East End Gateway Sites 2 & 3 will be higher quality than that (more layers and a higher quality substrate). A fine grain sand, which will give the walls a smoother surface than the overly grainy texture of some of the cheaper buildings, will be used. In addition, he mentioned the stucco may have integrated color, so no gray spots when the inevitable chips occur. However, the stucco will crack; cracking can be minimized, but it will still probably happen.
What about the other projects???
I cornered Tom Kigar of CADA and asked him about the CADA Warehouse and the East End Gateway Site 1 Project (possibly a 14 or 15 story tower).
He said CADA is excited to sign an agreement with the developer for the CADA Warehouse this month (or was it next month? I forget) and construction should begin within the next few months or so. (Where have we heard that before? However, he seemed pretty sure about it, so
)
He seemed a bit more skeptical about East End Gateway Site 1. He expects CADA to sign an agreement with Lambert (the developer) in January. Construction could begin 6 months later. Although he would not assure me it will happen, he did say Lambert has a lot of experience and "if anyone can do it, it's them." CADA thinks Lambert will have to get about $600 a square foot. (A bit pricey. Can the market handle it?)
That's all I have for you all.
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