Sacramento Proposal/Approval/Construction Thread - III

[snfenoc]

Here's a refresh/reminder article from the Sacramento Business Journal. It does not say much that is new. However, we are about 6 weeks away from a big decision about a big subsidy:

Midtown project at 1717 S St. aiming to start in spring
By Ben van der Meer – Staff Writer, Sacramento Business Journal
January 29, 2020

Mid-March will be a pivotal point for a Midtown Sacramento project at 1717 S St., with a state decision on awarding construction dollars expected to come then.

• Location: Northeast corner of 17th and S Streets, just south of the Ice Blocks development.
• Number of Units: 159 rental units.
• Number of Floors: 5 and 6
• Income Mix: Most of the units will be market rate. The rest will be affordable.
• Retail Component: 11,000 square feet.
• Projected Cost: $80 Million. (Up from $62 Million.)
• Who is Involved?: CADA and CFY Development.
• What needs to happen?: The California Financing Agency needs to award the project $28 Million in State and Federal tax credits for affordable housing.
• What has happened already?: The developers have cobbled together about $45.18 Million in subsidies (deferred City and State loans and State tax-exempt mortgage revenue bonds). I think they have permits already, but I am not sure. Regardless, much of the entitlement work is done....I think.
• Time Frame: The decision on the award is expected in 6 weeks. If the project is awarded funding, construction could begin a few months later. Construction would take 2 years.

There is a limit to how much the State will award. However, this project has a number of other subsidies in place; so I doubt the State would decline to fund this project. Plus, CADA is involved. Additionally, it is close to mass transit; and I think those projects get some kind of preference. Having said all that, I think I remember reading that larger cities, like LA and SF have a better chance of getting the kind of subsidy that is needed for this project to happen.

We'll see in 6 weeks. Wouldn't it suck if, by then, the projected cost rises to $90 Million?

[snfenoc]

SMUD plans redevelopment of corp yard in East Sac
By Ben van der Meer – Staff Writer, Sacramento Business Journal
January 29, 2020

https://www.bizjournals.com/sacramen...-east-sac.html

The Sacramento Municipal Utility District will release a formal request for proposals next month for a 20-acre site straddling a light-rail station in East Sacramento. The property, the utility’s former corp yard, is slated for a housing project with hundreds of both single-family and multifamily units, as well as an adaptive reuse component.

• Name: 59th Street Reuse Project.
  
• Location: 2 sites on the west side of 59th Street and north of Highway 50. One site will be on the north side of light rail. The other site will be on the south side of light rail.
  
• What is the current status?: An Request For Qualifications was issued last year. A Request For Proposals will be issued to developers soon. Proposals are to be submitted in the spring. The SMUD board will select a developer in the summer.
  
• What kind of development does SMUD expect?: 2 concepts were included in the RFQ to developers. The development could include 545 - 940 housing units and 7,800 square feet of commercial space. The housing mix would be 80-215 town home-style single family homes. The balance would be multi-family units. The project's density would, of course, be higher than suburban developments. SMUD would like developers to reuse a 6,000 square foot warehouse that is on the property for some kind of community "hub" that is open to the public.

Here is a satellite view of the project area:



This would be nice project for that area. Getting rid of that ugly corp yard and building housing with retail would help to expand the central city. Keep in mind, the area around CSUS is getting lots of housing and retail as well. Therefore, "eastern" East Sac could get nicely built out within the next few years.

[LandofFrost]

Originally Posted by snfenoc

SMUD plans redevelopment of corp yard in East Sac
By Ben van der Meer – Staff Writer, Sacramento Business Journal
January 29, 2020

https://www.bizjournals.com/sacramen...-east-sac.html

• Name: 59th Street Reuse Project.
  
• Location: 2 sites on the west side of 59th Street and north of Highway 50. One site will be on the north side of light rail. The other site will be on the south side of light rail.
  
• What is the current status?: An Request For Qualifications was issued last year. A Request For Proposals will be issued to developers soon. Proposals are to be submitted in the spring. The SMUD board will select a developer in the summer.
  
• What kind of development does SMUD expect?: 2 concepts were included in the RFQ to developers. The development could include 545 - 940 housing units and 7,800 square feet of commercial space. The housing mix would be 80-215 town home-style single family homes. The balance would be multi-family units. The project's density would, of course, be higher than suburban developments. SMUD would like developers to reuse a 6,000 square foot warehouse that is on the property for some kind of community "hub" that is open to the public.

Here is a satellite view of the project area:



This would be nice project for that area. Getting rid of that ugly corp yard and building housing with retail would help to expand the central city. Keep in mind, the area around CSUS is getting lots of housing and retail as well. Therefore, "eastern" East Sac could get nicely built out within the next few years.

This is right next to TWO light rail stations and sac state and two high way on-ramps. Perfection! As long as East Sac NYMBYs keep their mouths shut.

[Clinton Robinson]

Was curious to see what's going on in Sac. Can someone please post us some recent pictures of Downtown? I'm not able to drive to Downtown and am really looking forward to seeing the Natural resources building and the other projects that have been bieng built there. Anyway I really appreciate it. I have always loved Sac town and try to catch updated photos of the city!

[snfenoc]

Originally Posted by Clinton Robinson

Was curious to see what's going on in Sac. Can someone please post us some recent pictures of Downtown? I'm not able to drive to Downtown and am really looking forward to seeing the Natural resources building and the other projects that have been bieng built there. Anyway I really appreciate it. I have always loved Sac town and try to catch updated photos of the city!

innov8 posted some fairly recent images on January 6th in the Sactown Photos thread. And if sactivity ever learns how to use an image hosting website , we should see some new photos pretty soon.

I just want to thank those of you who go out and take pictures and post them on this forum. When I lived in Sacramento, I used to do it frequently, and I understand just how hard it is: getting the right position and angles, editing, uploading, and posting. It takes a lot of effort and time.

For those of us who don't get to Sac very often, it is really gratifying to see all the progress as well as how the projects fit into the city. Thank you.

[Majin]

Obviously Midtown/Downtown proper needs more infill but I am really looking forward to East Sac becoming more dense. Folsom/6th Area and I would like for the J street/Folsom Blvd Corridor to become more dense.

[snfenoc]

Originally Posted by Majin

Obviously Midtown/Downtown proper needs more infill but I am really looking forward to East Sac becoming more dense. Folsom/6th Area and I would like for the J street/Folsom Blvd Corridor to become more dense.

Sacramento has a lot of undeveloped or underdeveloped "holes" within the central city. I like seeing East Sac, especially that part of East Sac, get more dense. CSUS feels cut off from the city. I think these projects will help to make it part of the central city and help CSUS shed its suburban and commuter campus vibe.

[sactivity]

Originally Posted by snfenoc

innov8 posted some fairly recent images on January 6th in the Sactown Photos thread. And if sactivity ever learns how to use an image hosting website , we should see some new photos pretty soon.

I just want to thank those of you who go out and take pictures and post them on this forum. When I lived in Sacramento, I used to do it frequently, and I understand just how hard it is: getting the right position and angles, editing, uploading, and posting. It takes a lot of effort and time.

For those of us who don't get to Sac very often, it is really gratifying to see all the progress as well as how the projects fit into the city. Thank you.

I have 98 photos I plan to post soon. I found that I can easily embed the file from Facebook but am worried that not everyone will see them. They are not all skyscrapers though. About 80% are of Sacramento will a few others are regional (ie, Coloma, Donner, Locke, etc...)

[snfenoc]

Ideas floated for Downtown land sold by Kings

By Ben van der Meer – Staff Writer, Sacramento Business Journal
Feb 5, 2020, 1:14pm PST Updated Feb 5, 2020, 2:47pm PST

https://www.bizjournals.com/sacramen...-by-kings.html

The new owner of an empty Downtown property formerly owned by the Sacramento Kings is making inquiries about developing it.

Officials with the city’s planning and building departments said they’ve been in touch with representatives of Montreal-based Lotus Equity Partners about potential plans for 1401 H St.

• No formal proposal has been submitted just yet.
• There are two ideas that have been floated:
  1) A 5-story, 60 unit residential project.
  2) A 4-story, 60 unit hotel project. This is the most recent, pre-proposal by Lotus equity.
• This property was given to the Sacramento Kings, who have done nothing with it despite receiving a $200 million+ subsidy for their Taj Mahal arena.

I am glad that it looks like something is being done with that property. With the Music Circus sitting right next door, plus all the development in that area, it is a real shame that this site has sat empty for so long. I prefer the housing option, but either one would provide some extra life.

I know it's not my money, my property or my investment, but I have been annoyed at the lack of continued development by the Kings. They received a number of properties, and they've only been involved with the development of 7th and K, which was already getting off the ground and had lots of subsidies.

8th and K Streets still remains up in the air. And Lot X... who knows?

Maybe the King are getting rid of some smaller properties to focus on the larger ones?

Regardless, I am glad somebody is doing something at 14th and H Streets.

[Majin]

Originally Posted by snfenoc

I know it's not my money, my property or my investment, but I have been annoyed at the lack of continued development by the Kings.

I totally agree. It's been very disappointing.

[snfenoc]

Railyards names office leasing team, announces new projects
By Ben van der Meer – Staff Writer, Sacramento Business Journal
February 11, 2020

https://www.bizjournals.com/sacramen..._news_headline

Cushman & Wakefield has gotten the nod to lead leasing efforts for up to 5 million square feet of office space in Sacramento’s Railyards development, as the full site plan for the project begins to roll out.

The leasing effort will start first with The Foundry, a two-building project with 300,000 square feet of office space and some first-floor retail, expected to be ready to start construction by year’s end.

MORE INFORMATION:

Cushman Wakefield is saying more announcements are to come

A new site plan has been released that shows new projects within:

• On the south side of Railyards Blvd., there are 6 parcels identified for office. This includes the parcel for the Foundry, a 2-building office/retail project that was announced a while back. (I wish the Foundry had a housing element to it - something to add to the first floor retail and keep that area alive after five.)
• More mixed use buildings are being considered, though we don't have information on where they will go or how many or how tall, etc.
• The old Paint Shop will be reused as a 3,500-seat music venue, with bars, restaurants and retail.
• A 316-room hotel is included.
• A fitness space of 90,000 square feet within a residential building is also on the updated plan.

Not sure if this warrants such a big headline. It is not concrete. I mean, we know the Rail Yards is in progress. We know that office, residential, retail, entertainment, bars and restaurants will all be part of the overall plan. Having said that, at least the Rail Yards has a company in place to lease the office space.

[snfenoc]

Apartment/retail project planned near Broadway in Oak Park
By Ben van der Meer – Staff Writer, Sacramento Business Journal
Feb 5, 2020, 9:52am ES
https://www.bizjournals.com/sacramen...oadway-in.html

Sacramento-based Bhandal Construction is planning a second project of apartments and retail in the Oak Park neighborhood, this one closer to Broadway.

The project, 3/36 Mixed-Use, would have 12 apartments over 2,500 square feet of retail space at 3560 Third Ave., in the Sacramento neighborhood southeast of Downtown and Midtown.

MORE INFORMATION:

• The Developer is Navinder Bhandal
• The apartments would rent for market rate.
• Apartment Occupancy in the area is 95% - it should not be tough to rent out, according to the developer
• Estimated cost is $2 Million.... I think that number might be a little low.
• Developer would like to begin construction in about a year.

3/36 Mixed-Use drawing:


Current Site:


Yes, this is a pretty small project. However, given the current state of the property, I will take it! Plus, it adds some more housing and retail to Oak Park.

[Majin]

Nice project but I wish they would bring more height to Oak Park.

[snfenoc]

Originally Posted by Majin

Nice project but I wish they would bring more height to Oak Park.

Nah. Maybe another story would be nice, but 3 floors is about right for the immediate are. The site is off the main drag (Broadway) and faces single family homes on 36th Street and 3rd Avenue. Sites that are further west (especially those that face Broadway) are where we can hope for 5-8 floors.

[Pistola916]

Found a rendering of the Hilton Canopy Hotel

https://www.labibse.com/sacramento-hilton-hotel

[Majin]

When is this suppose to start?

[snfenoc]

Originally Posted by Majin

When is this suppose to start?

According to an article in the Sacramento Business Journal that was posted on December 23, 2019:

• Title to the property had just been transferred.
• A Design Review plan would be sent to City planners "soon".
• The Developer would like to start construction this year and complete the project by 2022.
• Project cost would be around $150 million
• The building would be 14 floors.
• There would be 275 hotel room.
• There would be 50 luxury apartments on the top floors.
• It would have a rooftop bar.
• It would have ground floor retail.
• With regard to financing, the Developer has filed paperwork with the SEC to raise $52.1 Million from investors. The site qualifies as an Opportunity Zone.
• With regard to feasibility, hotels have been posting higher revenue rates per room and improved vacancy (lower) numbers.

New 14-story hotel planned in downtown Sacramento
By Ben van der Meer – Staff Writer, Sacramento Business Journal
Dec 23, 2019, 4:53pm EST

https://www.bizjournals.com/sacramen...acramento.html

Downtown Sacramento is slated for a new 14-story, 275-room Hilton hotel, with construction scheduled to get underway as soon as next year.

A design review plan for the Canopy by Hilton at 831 L St. is set to be submitted soon to city planners, said developer Eva H. Hill of Venture Oaks Real Estate Group.

Here is a rendering of the building:

[kamehameha]

any update on the Mohanna proposal 15 story, k and 10? last time I heard construction suppose to start Spring 2020.

[snfenoc]

Originally Posted by kamehameha

any update on the Mohanna proposal 15 story, k and 10? last time I heard construction suppose to start Spring 2020.

The last I heard about this project was in the Notable Projects For 2020 slideshow, posted in early January, on the Sacramento Business Journal Website.

It said the project was due to start at the end of 2020.

I think there was an attempt to block the project on environmental grounds, but the City Council shut that down in July 2019. It was a ploy to force the developer to use union labor/sign a Project Labor Agreement (PLA). I am not sure if the people responsible for trying to block the project will attempt a lawsuit. It has been over 6 months since the Council smacked them down. I just read a story on the Channel 13 News website about the City Council clearing the project for development and denying the attempt to block it. In that story, Mohanna said that the project still needed to go out to bid. This was in July; so maybe we will have a clearer picture soon?

[urban_encounter]

Does anyone have renderings for the hotel planed at the site of the Eastern Star Temple? They plan to incorporate the historic structure into the hotel. The last time I drove by it was fenced off.