Sacramento Proposal/Approval/Construction Thread - III

[Pistola916]

Magic Johnson to help finance new Sacramento arena?

An unlikely economic ally in Sacramento’s push for a new arena? Los Angeles Laker great Magic Johnson says he’ll chip in money to help Sacramento build a new entertainment-and-sports complex. KFBK News Director Judy Farah heard him make the announcement:

.@magicjohnson told @KJ_MayorJohnson he’d not only donate funds to re-elect him, but to build new arena as well.

Magic was in the capital last night, one of 10 exemplary Californians inducted into the state’s Hall of Fame. After the ceremony, Magic vowed he’d offer fiscal support for a new arena at Mayor Kevin Johnson’s afterparty/campaign event at the Park Ultra Lounge in Downtown Sacramento. I actually dropped by the party, but just missed Magic’s on-stage endorsement of Mayor Johnson’s re-election campaign and his financial pledge.

Magic no longer owns a minority stake in the Lakers, selling his share last year for business reasons. Scott Howard-Cooper over at NBA.com theorized last month that Magic could be interested in buying back into the NBA, perhaps with the Kings if they’re ever up for sale. More recently, he’s been linked to an ownership group that would like to purchase the Los Angeles Dodgers of Major League Baseball.

[Trojan]

Originally Posted by Pistola916

Magic Johnson to help finance new Sacramento arena?

An unlikely economic ally in Sacramento’s push for a new arena? Los Angeles Laker great Magic Johnson says he’ll chip in money to help Sacramento build a new entertainment-and-sports complex. KFBK News Director Judy Farah heard him make the announcement:

.@magicjohnson told @KJ_MayorJohnson he’d not only donate funds to re-elect him, but to build new arena as well.

Magic was in the capital last night, one of 10 exemplary Californians inducted into the state’s Hall of Fame. After the ceremony, Magic vowed he’d offer fiscal support for a new arena at Mayor Kevin Johnson’s afterparty/campaign event at the Park Ultra Lounge in Downtown Sacramento. I actually dropped by the party, but just missed Magic’s on-stage endorsement of Mayor Johnson’s re-election campaign and his financial pledge.

Magic no longer owns a minority stake in the Lakers, selling his share last year for business reasons. Scott Howard-Cooper over at NBA.com theorized last month that Magic could be interested in buying back into the NBA, perhaps with the Kings if they’re ever up for sale. More recently, he’s been linked to an ownership group that would like to purchase the Los Angeles Dodgers of Major League Baseball.

What about AEG? Last time I talked to David Taylor he told me he was working on financing with AEG and it sounded like a firm deal.

[wburg]

So far we haven't seen any firm commitments, in the form of actual quantities of dollars committed, from any private parties. Just promises that they might be willing to do so--and no details regarding what they want in return for that investment. In some other arena projects, some "contributions" are actually loans, and other cities have gotten into financial hot water trying to pay back the interest on those loans, spending out of general funds or having to repay other taxes, while the private investors are paid first.

[ltsmotorsport]

Originally Posted by kamehameha

Next year 2012 the Sacramento region will be experiencing a mini building boom. The
16th/O street twin aprartment complex by CADA, the midrise 7th/H affordable housing complex, the 700 block K street residential and entertainment project, The powerhouse science museum along Richards Blvd, West Sac's 6 story 78 unit Bridge Housing complex and the Marriott Hotel, The mid rise Sutter expansion and the new Kings Arena will all be under construction. Major construction projects on both sides of the river for the coming year. I'm not even including the upcoming residential buildings in Township 9 that will break ground sometimes in 2012 and the 800 block of K street. An unprecedented building boom of this magnitude that we have never seen before in Metro Sacramento

Just be patient guys, we will have a dense urban sacramento in a few years.

Originally Posted by innov8

The last time I heard this much hype was... 2005, 06, 07. If a quarter of the
above listed proposals get built I'll be happy.

Well, most will/are. We already have Sutter, 7th and H, railyards track relocation/ped tunnel (not a building but...), and Tapestry Square (continuing) all under construction. And looking at this updated image from Google Earth/Maps dated 10/30/11, Township 9 site prep is coming along quite nicely.

Oh, and the re-clad of the senior apartments tower on 7th and I.

As for other new construction starts, East End Gateway looks about as solid as it gets right now, with 700 K not far behind.

Others looking down the road: The Warren, Unity Lab, 2500 R, 800K, Meridian II, 701 L (pipe dream), more...?

So sorry if this is a bit of a repeat, but just wanted to separate out "currently in construction" from "starting soon".

[kamehameha]

40,000 square feet art museum being planned in Davis.


UCD names museum for Napa pair after $10M gift

“Feminine Head,” a print lithograph by Henri Matisse, circa the 1950s, is one of the 4,000 pieces in UC Davis’ fine arts collection that will be displayed in a museum planned on campus near the Mondavi Center. Courtesy photoAfter a $10 million donation, UC Davis’ planned art museum will carry the name of a pair of immigrants, friends, art patrons and Northern California success stories.

Jan Shrem, owner of Clos Pegase winery, made the donation in his name and that of his friend and fellow Napa Valley resident, Maria Manetti Farrow, most recently a producer of olive oil, UCD announced today.

The 40,000-square-foot Jan Shrem and Maria Manetti Farrow Museum of Art is slated to open in 2015 on the south edge of the Vanderhoef Quad, near the Mondavi Center for the Performing Arts and UCD Conference Center.


http://www.davisenterprise.com/local-news/ucd/ucd-names-museum-for-napa-valley-pair-after-10m-gift/

[innov8]

“Seventh & H" SRO - 7th & H Street, $47.4 million project. Expected completion date, Spring 2013









626 I Street Rehabilitation Project - $19.4 million. Expected completion date, Sept. 2012





La Valentina Station - 12th Street between D and E streets, $27 million project. Expected completion date, summer 2012.





Sutter Medical Center - L & 29th Street, $600 million project. Expected completion date, late 2012.

[kamehameha]

Another ground breaking for a major construction project. Sacramento is looking good guys. Soon construction cranes will dominate our skyline.


Mixed-use projects on 16th Street set to begin
.Sacramento Business Journal by Michael Shaw, Staff Writer
Date: Tuesday, December 20, 2011, 2:55pm PST
.
.Michael Shaw
Staff Writer - Sacramento Business Journal
Email | Twitter | LinkedIn | Facebook Developers and officials from the Capital Area Development Authority will break ground on two new mixed-use projects on 16th Street on Thursday on two vacant parcels that the authority has been trying to develop for several years.

Ravel Rasmussen Properties and Separovich/Domich Real Estate have been negotiating with CADA to bring new housing to the southwest and northwest corners of 16th and O streets and recently put the financing together to build the estimated $25.8 million project, which are expected to be completed in 2013.

http://www.bizjournals.com/sacramento/news/2011/12/20/projects-sacramento-break-ground-16th-st.html

[TWAK]

so i'll prolly be losing my parking spot on the street. 🞵🞵🞵🞵

[Eriu]

Originally Posted by kamehameha

40,000 square feet art museum being planned in Davis.


UCD names museum for Napa pair after $10M gift

“Feminine Head,” a print lithograph by Henri Matisse, circa the 1950s, is one of the 4,000 pieces in UC Davis’ fine arts collection that will be displayed in a museum planned on campus near the Mondavi Center. Courtesy photoAfter a $10 million donation, UC Davis’ planned art museum will carry the name of a pair of immigrants, friends, art patrons and Northern California success stories.

Jan Shrem, owner of Clos Pegase winery, made the donation in his name and that of his friend and fellow Napa Valley resident, Maria Manetti Farrow, most recently a producer of olive oil, UCD announced today.

The 40,000-square-foot Jan Shrem and Maria Manetti Farrow Museum of Art is slated to open in 2015 on the south edge of the Vanderhoef Quad, near the Mondavi Center for the Performing Arts and UCD Conference Center.


http://www.davisenterprise.com/local-news/ucd/ucd-names-museum-for-napa-valley-pair-after-10m-gift/

Between this and Crocker, thats a goodly amount of art being displayed. And apparently, it's still only going ot be able to house about 10% of UC Davis' collection.

[cozmoose]

Originally Posted by Eriu

Between this and Crocker, thats a goodly amount of art being displayed. And apparently, it's still only going ot be able to house about 10% of UC Davis' collection.

Only showing 10% of UC Davis' collection seems to imply that there are hundreds of masterpieces not shown to the general public.
But what if most of UC Davis collection is of little importance artistically?

I doubt there are works of Van Gogh or Picasso gathering dust at Crocker or UC Davis storage facility.

[wburg]

Originally Posted by cozmoose

Only showing 10% of UC Davis' collection seems to imply that there are hundreds of masterpieces not shown to the general public.
But what if most of UC Davis collection is of little importance artistically?

I doubt there are works of Van Gogh or Picasso gathering dust at Crocker or UC Davis storage facility.

Per the article, the best-known masterworks are apparently from Matisse, Cezanne and Warhol, and works by well-known artists who were UCD faculty like Wayne Thiebaud and Robert Arneson. 40,000 square feet is a good chunk of space: the Teel Pavilion at the Crocker is 125,000, which roughly quadrupled their available gallery space, so figure this new UC Davis museum will be roughly the size of the old Crocker.

[innov8]

Originally Posted by kamehameha

Next year 2012 the Sacramento region will be experiencing a mini building boom. The
16th/O street twin aprartment complex by CADA, the midrise 7th/H affordable housing complex, the 700 block K street residential and entertainment project, The powerhouse science museum along Richards Blvd, West Sac's 6 story 78 unit Bridge Housing complex and the Marriott Hotel, The mid rise Sutter expansion and the new Kings Arena will all be under construction. Major construction projects on both sides of the river for the coming year. I'm not even including the upcoming residential buildings in Township 9 that will break ground sometimes in 2012 and the 800 block of K street. An unprecedented building boom of this magnitude that we have never seen before in Metro Sacramento

Just be patient guys, we will have a dense urban sacramento in a few years.

For those of you who think and believe this nutty hype, get real! Sacramento's a city
where nearly all projects need subsidies by either the State or City to become
viable, and those days of handouts are coming to an end.

California court says state can kill redevelopment agencies

http://www.reuters.com/article/2011/12/29/us-usa-california-budget-idUSTRE7BS0XF20111229

Dec 29, 2011 3:45pm EST

SAN FRANCISCO (Reuters) - In a major victory for California Governor Jerry Brown, the state supreme court on Thursday upheld a law that would eliminate 400 local redevelopment agencies and could divert billions of dollars to schools and other local services.

The court ruled that the state legislature was within its rights to abolish the agencies, which have long played a major role in local development projects ranging from apartment houses to train stations and sports stadiums. At the same time, the court struck down companion legislation that would have enabled the redevelopment agencies to stay in business if they agreed to pay a big chunk of their revenues to the state.

Local officials vehemently opposed the elimination of the redevelopment agencies, and a group of plaintiffs, including the California Redevelopment Association and the League of California Cities, asked the California Supreme Court to declare both laws unconstitutional.

Redevelopment agencies, widely used around the country, sell bonds to fund local development projects. They pay them off with the increased property tax revenue, or tax increment, that results from the project.

Read more here: http://www.reuters.com/article/2011/12/29/us-usa-california-budget-idUSTRE7BS0XF20111229

[TWAK]

Originally Posted by innov8

divert billions of dollars to schools and other local services.

I'm sorry but how could anybody be opposed to schools receiving more money?
I'll take the loss of a planned apartment complex over the loss of a school or teachers

[kryptos]

finally. something that brings back fiscal responsibility. RDA's are slush funds for private corporations that take money from schools, colleges and public safety. now we need to defund the california rail authority, the california horse racing board, and all the other useless agencies in the state. we need consolidation and elimination.

I would love to see sacramento become more dense in its core, however now is not the time.

[innov8]

Originally Posted by kryptos

finally. something that brings back fiscal responsibility. RDA's are slush funds for private corporations that take money from schools, colleges and public safety.

You sound like a parrot repeating what has only recently been said on other
comment news sites. Until now, redevelopment agencies were cheered for
bring housing to areas that needed it and restoring neighborhoods. Now they
are evil and in the pocket of private corporations? I have never read that on
this blog or any news blog till today… you and the others are all drinking the
OWS cool aid.

I’m all for school funding but we all know this money will never reach the kids
in the class room. Along the way to the class room it will get spent to pay
administrators incredibility large salaries. The same could be said about college
where administrative salaries are even worse… I don’t hear any one
complaining about that?

[wburg]

I thought "redevelopment is evil" was the watchword of the folks drinking the Fox News kool-aid?

This isn't the end of all the various funds that pay for urban infrastructure--it may well be the end of a very specific type of funding, specifically "tax-increment financing," which kind of became the Swiss-army chainsaw for doing urban projects. It was pioneered in the 1950s back when taxes were high and the government was rich to dole out money but demanded a local match, and TI financing let cities get what was, in a way, free money--sell bonds based on what the property will be worth after it is built, during an unparalleled era of growth and expansion, especially in California.

But that era was hardly considered a golden era for cities--it is more associated with suburban sprawl and urban abandonment, usually facilitated by the big redevelopment projects that demolished urban neighborhoods and converted them into office districts where suburbanites worked but few people called home. And of course this connection was made possible by federally funded highways that make auto suburbs possible and drove private streetcar and railroad service out of business, and whose cost makes downtown redevelopment look like a drop in the bucket.

What's really going to happen is probably something like what urban planning guru Bill Fulton talked about this spring at a conference on redevelopment here in Sacramento: we're going to see a shift from TIF redevelopment as the most important tool for rebuilding urban cores to a variety of tools and funding mechanisms, some of which are being used here in Sacramento (like the TOD and transportation enhancement bonds being used to help fund things like Railyards infrastructure and Township 9's first phase.)

Of course, what would really make a difference is an end to the eternal outward sprawl of Sacramento's suburbs. As long as development pressure can easily flow outward on the freeways, and regional politicians still hinge their re-election campaigns on contributions from suburban developers, construction pressure in our region's urban core will lag. Of course, if we took the suburbs off their own gravy train, things might equalize quite quickly, but all the "fiscal conservatives" in the suburbs will most likely scream their heads off if that happens.

[kryptos]

Originally Posted by wburg

I thought "redevelopment is evil" was the watchword of the folks drinking the Fox News kool-aid?

I am a fiscal conservative democrat, but I dont watch faux news nor do I live in tacky mcmansion suburbia hell. bulldoze it.
RDA's are not evil, however I do not think that its fair that property taxes on one street goes to schools, and on the next street property taxes go toward someones pet project. Its cheating the kids of better equipped schools and putting the burden of funding the schools and public safety, parks and the rest of the local services on those who own property outside of the zone, meanwhile those within it get their streets repaved, landscaped and beautified.

[kryptos]

Originally Posted by innov8

I’m all for school funding....

wow, a repub who supports school funding? cant believe it.

[innov8]

Originally Posted by kryptos

finally. something that brings back fiscal responsibility. RDA's are slush funds for private corporations that take money from schools, colleges and public safety.

Originally Posted by kryptos

wow, a repub who supports school funding? cant believe it.

Hiding behind a handle and making statements based on absolute fiction must be nice?
That’s two in a row dude, creative writing must be you’re strongest trait.
Try a little harder and Happy New Year.

[kryptos]

lol @ hiding behind a handle.

so then innov8 is your birth name? I can only guess what your last name would be.

Thank you for the creative writing compliment. It means I have a creative mind, like the type you need for innovation. Maybe you should delete yourself, and I'll take your "handle" since it more fits me than it does you.

As far as fiction goes, that must be your strongest trait. HIDING behind your own fictitious handle, with your fictitious photoshopped pictures, living on fictitious hopes of Sacramento becoming a highrise mecca, perhaps FICTION is what your new handle should be.