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  #1761  
Old Posted Feb 25, 2007, 2:20 AM
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Originally Posted by POGO View Post
I agree 100% with Urban up until he implies that CalPers has some diabolical plot up their sleeve to ruin this project. I don't think the problem with the project is CalPers, it is Saca. CalPers has the money, its up to Saca to meet his contract obligations and committments before they release any more money. He needs to sell the units he said he could sell, and demonstrate that he has the staff, the experience, and the knowhow to bring this project to fruition within budget. Therein lies the problem.

I'm not suggesting a plot by CalPers, but instead a pretty forceful bargaining chip.

As a former Cal Pers member, I can certainly understand why CalPers would want accountability on a project where construction costs have risen so dramatically, (50%). This project is far from certain to even pencil out and I suspect that's why Cal Pers is so hesitant about going forward with John Saca at the helm.

Let's hope a new equity partner with deep pockets and a vison for Sacramento is somewhere out there.
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  #1762  
Old Posted Feb 25, 2007, 2:43 AM
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And with my apologies Brandon.
Urban, you never have to apologize to me for anything. End of story.
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  #1763  
Old Posted Feb 25, 2007, 4:36 AM
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Originally Posted by urban_encounter View Post
I'm not suggesting a plot by CalPers, but instead a pretty forceful bargaining chip.

As a former Cal Pers member, I can certainly understand why CalPers would want accountability on a project where construction costs have risen so dramatically, (50%). This project is far from certain to even pencil out and I suspect that's why Cal Pers is so hesitant about going forward with John Saca at the helm.

Let's hope a new equity partner with deep pockets and a vison for Sacramento is somewhere out there.
exactly.....plus the costs of the units surely will be different now!

and I still dont see any businesses in the first floor on CIM on J street.
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  #1764  
Old Posted Feb 25, 2007, 8:19 PM
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and I still dont see any businesses in the first floor on CIM on J street.

Which is why I'm not a big fan of requiring every housing project to have ground floor retail.

It doesn't help when retail space sits empty for years or even worse, are forced to rent to bail bondsmen.
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  #1765  
Old Posted Feb 25, 2007, 8:31 PM
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I posed this a while ago from the terranomics website, but you might have missed it.

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  #1766  
Old Posted Feb 25, 2007, 10:26 PM
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I think ground floor retail is essential for every project. It might not look like the best idea right now because people have forgotten about J street being a retail zone, but once more projects come along with more residents (metropolitan, cathedral, epic, cap grand) those spaces will be vital for those residents needs and hopefully revitalize that, and any other corridor as somewhere to go instead of somewhere to avoid. I would rather have that space sit empty for a while than need it down the line and not have it available.
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  #1767  
Old Posted Feb 26, 2007, 6:02 AM
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Originally Posted by ltsmotorsport View Post
I think ground floor retail is essential for every project. It might not look like the best idea right now because people have forgotten about J street being a retail zone, but once more projects come along with more residents (metropolitan, cathedral, epic, cap grand) those spaces will be vital for those residents needs and hopefully revitalize that, and any other corridor as somewhere to go instead of somewhere to avoid. I would rather have that space sit empty for a while than need it down the line and not have it available.
I have to agree. It's not just people that have a herd mentality it's developers! People have short memories, in the Spring downtown will be vibrant again with the concerts in the park, farmers markets, convention center & memorial auditorium events, Crocker Art Museum events, increased downtown mall attendance, increased Second Saturday attendance etc.. Only this Spring their will be some new hotspots to check out. Higher sales will follow. We even have 2 new hip magazines, Sactown and Midtown/Downtown monthly, to promote our urban lifestyle. People need to open their eyes, we don't need a new skyscraper to get more retail or vibrancy, the small projects can be just as effective. The momentum is growing, The retail space will be leased, developers are just running behind the curve.
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  #1768  
Old Posted Feb 27, 2007, 5:27 AM
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What control does Saca have remaining? With the property in default can't it be sold out from under him? Doesn't the property lean holder have all the say, right now?
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  #1769  
Old Posted Feb 27, 2007, 4:23 PM
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Originally Posted by mechanico View Post
What control does Saca have remaining? With the property in default can't it be sold out from under him? Doesn't the property lean holder have all the say, right now?
A default could lead to foreclosure and then the sale of the land... but that is at least
three months off if it comes to that. Neither Saca or CalPERS would get any
thing out of a situation like that. Even if it goes into foreclosure, the process
can draw out several more months before it would be sold.
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  #1770  
Old Posted Feb 27, 2007, 4:48 PM
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I've heard there's a decent chance there will be some big news this week.
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  #1771  
Old Posted Feb 27, 2007, 6:54 PM
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Thank god, I'm tired of waiting, good news or bad.
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  #1772  
Old Posted Feb 27, 2007, 8:24 PM
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Quote:
Originally Posted by ltsmotorsport View Post
I think ground floor retail is essential for every project. It might not look like the best idea right now because people have forgotten about J street being a retail zone, but once more projects come along with more residents (metropolitan, cathedral, epic, cap grand) those spaces will be vital for those residents needs and hopefully revitalize that, and any other corridor as somewhere to go instead of somewhere to avoid. I would rather have that space sit empty for a while than need it down the line and not have it available.
At the Skylife Workshop that Schmoe and I had the opportunity to attend, a couple of the speakers who were architects and city planners from Vancouver, SD, SF and Portland noted that Sacramento already has a glut of available ground level retail space, which might be contributing to the negative image that some residents of the surrounding region have of DT Sacramento.


What the speakers suggested as a way of avoiding a glut of retail space and empty storefronts, was to encourage some new residential projects to design units on the ground level, that open on onto the street in some fashion.....<<<There are many creative ways of doing so.

So while there are benefits to encouraging developers to put in some ground level retail; requiring too much may actually work against what Sacramento is trying to accomplish and may actually contribute to blight.

What Sacramento needs, is a healthy balance.
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Last edited by urban_encounter; Feb 27, 2007 at 8:59 PM.
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  #1773  
Old Posted Feb 28, 2007, 5:53 AM
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Quote:
Originally Posted by innov8 View Post
A default could lead to foreclosure and then the sale of the land... but that is at least
three months off if it comes to that. Neither Saca or CalPERS would get any
thing out of a situation like that. Even if it goes into foreclosure, the process
can draw out several more months before it would be sold.
Can the lean holder go around Saca and work directly with Calpers?
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  #1774  
Old Posted Mar 1, 2007, 7:53 AM
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Brandon i cant wait any longer what's the big news on the towers that is supposed to be told this week. At least tell us if it's good news or bad.
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  #1775  
Old Posted Mar 1, 2007, 2:40 PM
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^I honestly don't know what the news is, although from his tone, it seems like it will be good news. I'm pretty sure it will have something to do with financing.
Also, he told me there was a good chance there would be an announcement this week, not that there definitely would be one. It's Thursday morning now, so we'll see. When it does come, I assume it will relate to financing.
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  #1776  
Old Posted Mar 1, 2007, 7:53 PM
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They could be waiting til early next week too, but who knows. Either way, very soon it sounds like some good news will be coming down the pipe.
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  #1777  
Old Posted Mar 2, 2007, 2:57 AM
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Announcement?

Maybe Mr. Bob Shallit took Wednesday off knowing he was going to have a huge press release on Saturday.

Just a thought.....

Last edited by Nawlijispower; Mar 3, 2007 at 5:32 AM.
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  #1778  
Old Posted Mar 2, 2007, 2:58 AM
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Hey!!!!

Dont Click On The Links That Are On My Post!!!!!!!!

Last edited by Nawlijispower; Mar 3, 2007 at 5:33 AM.
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  #1779  
Old Posted Mar 2, 2007, 3:56 AM
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Nawlijispower, you have a trojan horse installed on your computer.
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  #1780  
Old Posted Mar 2, 2007, 3:57 AM
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Stop spamming viruses
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