Sacramento: 301 Capitol Mall: A New Plan for The Towers Site - Page 66

brandon12 · #**1301** Posted **Nov 17, 2006, 6:24 AM**

It is Bovis. Their other local projects include one rincon hill in sf and the $400M expansion of the thunder valley casino.

innov8 · #**1302** Posted **Nov 17, 2006, 10:44 PM**

Quote:

Originally Posted by brandon12

It is Bovis. Their other local projects include one rincon hill in sf and the $400M expansion of the thunder valley casino.

I read several months ago that Thunder Valley is going to build a 31 story hotel out there.

Good news on Bovis... it appears they have stopped delivering piles to the
Towers site, so I would imagine they are nearly done. It looks like about
30 or so piles are waiting on site to be driven into the ground.

ltsmotorsport · #**1303** Posted **Nov 17, 2006, 11:13 PM**

Great news. So after all the piles are driven, the next step would be to cover the site in the foundation concrete, would it not?

bennywah · #**1304** Posted **Nov 17, 2006, 11:21 PM**

after some serious rebar work, thats a 15' foundation, probably gonna be a day long pour too

urban_encounter · #**1305** Posted **Nov 18, 2006, 6:23 PM**

Quote:

Originally Posted by brandon12

It is Bovis. Their other local projects include one rincon hill in sf and the $400M expansion of the thunder valley casino.

$400 million expansion of Thunder Valley???

Good gravy that's more than the Maloofs are spending at the Palms. What are they expanding exactly???

Absoultely incredible news regarding Bovis...

An international company that probably gives Cal Pers a lot of confidence.

(Having Cal Pers as an equity partner is already already paying off)

enigma99a · #**1306** Posted **Nov 22, 2006, 1:28 AM**

brandon12 · #**1307** Posted **Nov 22, 2006, 5:08 AM**

I just took some time to compile a review of my best estimate of the sales figures for the Towers. My sources were the article in the Bee that appeared in October, updated with the progress that has been touted periodically by the sales team via email and Bee ads. I'm sure it's not completely accurate, but is most likely pretty close. I'll assume the Bee was accurate when they noted that there are 799 total units for sale. If that's the case, then it would take 400 units sold to exceed the magical 50% that seems to be the point at which the Deutche money is released.
So, here are the monthly sales totals as I see them

May: 91 units sold, YTD total: 91
June: 98 units sold, YTD total:189
July: 90 units sold, YTD total:279
Aug: 71 units sold, YTD total: 350
Sept: 14 units sold, YTD total:364
Oct: 15 units sold, YTD total: 379
Nov 21: 6 units sold, YTD total:385

So according to my best estimate, they need to sell another 15 units before the Deutche funding comes through.

innov8 · #**1308** Posted **Nov 22, 2006, 5:59 AM**

I was wondering that myself Brandon, after enigma posted the latest.

aufbau · #**1309** Posted **Nov 22, 2006, 8:47 AM**

Thanks for the information Brandon. My conservative guess is that by the end of March they will have their funding from Deutsche Bank.

enigma99a · #**1310** Posted **Nov 22, 2006, 9:22 AM**

Well the 100M or so from Calpers should last until then shouldn't it?

mechanico · #**1311** Posted **Nov 25, 2006, 1:47 AM**

How much did Saca spend on the property?

sugit · #**1312** Posted **Nov 25, 2006, 2:15 AM**

I think it was 19.9 million...

innov8 · #**1313** Posted **Nov 27, 2006, 11:03 PM**

Multiple actives are now going on at the site. Along Capitol Mall they
have started digging down and around piles, it could be the beginning
of foundation work? I also counted 15 or so piles left at the site waiting
to be sunk into the ground. Also, steel beam that are about 30 feet in length
have started to arrive so they can finish installing the retaining walls around the side.

Los_Lobo · #**1314** Posted **Nov 27, 2006, 11:56 PM**

Here's a newish website from Saca Development. It lists his upcoming projects (Towers, Metropolitan, 800 K Str) with some details. The website is still under development but makes for some interesting reading:

http://www.saca.biz/index_files/Page521.htm

ltsmotorsport · #**1315** Posted **Nov 28, 2006, 3:37 AM**

Very cool. I hope they put the official height of the different projects right on the front page.

creamcityleo79 · #**1316** Posted **Nov 28, 2006, 7:59 AM**

Quote:

Originally Posted by Los_Lobo

Here's a newish website from Saca Development. It lists his upcoming projects (Towers, Metropolitan, 800 K Str) with some details. The website is still under development but makes for some interesting reading:

http://www.saca.biz/index_files/Page521.htm

Good find Los_Lobo! I think a lot of us have been waiting for this for a while!

urban_encounter · #**1317** Posted **Nov 29, 2006, 2:12 AM**

I snapped a few pictures while visiting the family for Thanksgiving. Definelty not the quality of Mike's photo's but it was fun seeing all the activity on CM over the Holiday.

(Both pile drivers were in operation)

(Facelift finally)

(Demolition well underway)

(and more)

Sacto · #**1318** Posted **Nov 29, 2006, 4:04 AM**

^ Thanks for the visual.

foxmtbr · #**1319** Posted **Nov 29, 2006, 5:36 AM**

Thanks!

Trojan · #**1320** Posted **Nov 29, 2006, 5:37 AM**

So how much left on the pile driving for the Towers? I can't seem to get what they are doing in the picture with the dirt covering parts of the foundation area....