Sacramento Proposal/Approval/Construction Thread - III - Page 272

enigma99a · #**5421** Posted **Mar 5, 2015, 8:17 PM**

Is this the proposal that was approved?

Pistola916 · #**5422** Posted **Mar 5, 2015, 9:58 PM**

^
Yeah. Here's another rendering from a different angle.

creamcityleo79 · #**5423** Posted **Mar 5, 2015, 11:11 PM**

This should be MAJOR!!! It's like catalyst after catalyst after catalyst downtown!

I await the return of the Towers!

wburg · #**5424** Posted **Mar 6, 2015, 5:15 AM**

Quote:

Originally Posted by Mr. Ozo

The local news keeps reporting it as new buildings. It is a rehab of the existing buildings with new construction on the alley portion. It came down to 5-4 vote on the city council, with Republican Councilman Robbie Waters changing his vote at the last minute to vote for this proposal instead of the one that proposed total demolition.

This was the proposal recommended by city staff, along with a proposal by Domus and David Taylor on the 800 block that didn't make it through the redevelopment contract cycle in time. What convinced Waters was the budget: this project utilized redevelopment funds the city already had, while the other, bigger proposal's budget called for a city subsidy much larger than the available redevelopment fund (and land the city didn't own), including a bond borrowing against future parking revenue. When Waters asked the other developer where he planned on getting the money to make up the difference, the answer was "The state?" which was enough to convince Waters to vote for this plan.

Wmlegr · #**5425** Posted **Mar 6, 2015, 6:39 PM**

Does anyone know where the 800 block currently stands? I know that it is now under the Kings' ownership, but not much more since Taylor's project failed.

It also appears that the Kress building is for sale for $12,000,000, but I can' tell how long that has been the case.

creamcityleo79 · #**5426** Posted **Mar 6, 2015, 7:31 PM**

Quote:

Originally Posted by Wmlegr

Does anyone know where the 800 block currently stands? I know that it is now under the Kings' ownership, but not much more since Taylor's project failed.

It also appears that the Kress building is for sale for $12,000,000, but I can' tell how long that has been the case.

Good questions...and welcome to the board. I'm sure wburg has some insight!

wburg · #**5427** Posted **Mar 6, 2015, 8:51 PM**

The 800 block was not one of the properties transferred to the arena team (they got the lot next to Music Circus instead) but they do have first right of refusal. Considering that David Taylor is building the arena, I wouldn't rule out his involvement in 800 block, which, according to John Shirey yesterday, is the next step now that 700 is underway. The project was not approved before the end of redevelopment so it was not considered an "enforceable obligation" like the 700 block--so the redevelopment TIF funds it depended on are simply not there.

There are some future options on the horizon--at the groundbreaking, LaShelle Dozier of SHRA mentioned Toni Atkins' bill that would increase the state capacity for low-income housing tax credits, but she didn't mention another Atkins bill, a state historic rehab tax credit. Both could be used to fix up the 800 block with more housing, along the same lines as the 700 block or the WAL; part new construction, part historic rehab, part affordable housing, part market rate, mixed use retail on the ground floor. Fix up the Bel-Vue and the Hof Brau with a newer building on the corner, go as tall as the dollars can take you on 8th and K.

$12M for the Kress Building? Whoa! It sold in 2011 for $4.85 million...
http://www.bizjournals.com/sacrament...acramento.html

Mr. Ozo · #**5428** Posted **Mar 9, 2015, 8:04 PM**

Well, this is something.

http://www.bizjournals.com/sacrament...-stockton.html

Majin · #**5429** Posted **Mar 9, 2015, 8:16 PM**

Yup, just posted on that on CD forums. Very nice infill project.

Wmlegr · #**5430** Posted **Mar 9, 2015, 9:14 PM**

Hopefully it will work out. Stockton Blvd in that area currently seems a bit tired, and adding some residential development will definitely help to improve the neighborhood. More housing near the med center will also provide close housing options for the workers there, which they really need more of.

Majin · #**5431** Posted **Mar 16, 2015, 5:13 PM**

Anyone have any inside news on proposals coming forth over the next few months? I'm surprised almost nothing has leaked yet. More K street proposals? The Metropolitian? 300 Capitol mall? Railyards proposals?

Pistola916 · #**5432** Posted **Mar 16, 2015, 8:32 PM**

Quote:

Originally Posted by Majin

Anyone have any inside news on proposals coming forth over the next few months? I'm surprised almost nothing has leaked yet. More K street proposals? The Metropolitian? 300 Capitol mall? Railyards proposals?

The last time I heard of the Metropolitan was the story in last summer's Sactown Magazine citing the possibility of breaking ground in fall 2015

http://www.sactownmag.com/June-July-...=2&siarticle=1

Majin · #**5433** Posted **Mar 16, 2015, 8:51 PM**

Quote:

Originally Posted by Pistola916

The last time I heard of the Metropolitan was the story in last summer's Sactown Magazine citing the possibility of breaking ground in fall 2015

http://www.sactownmag.com/June-July-...=2&siarticle=1

If it really were to break ground fall of this year I think we'd hear more about it by now. And again, where are the other projects? Demand for living in the grid is very high right now, maybe higher than it's ever been. And we hear from city officials and the kings owners they are being flooded with proposals near the arena.... where are they? Has there just been no leaks yet?

fouroheight68 · #**5434** Posted **Mar 17, 2015, 3:03 PM**

Quote:

Originally Posted by Majin

Anyone have any inside news on proposals coming forth over the next few months? I'm surprised almost nothing has leaked yet. More K street proposals? The Metropolitian? 300 Capitol mall? Railyards proposals?

Funny you asked, http://www.bizjournals.com/sacrament...uld-begin.html

LandofFrost · #**5435** Posted **Mar 17, 2015, 3:18 PM**

Quote:

Originally Posted by fouroheight68

Funny you asked, http://www.bizjournals.com/sacrament...uld-begin.html

I'm excited about the first residential in the railyards!!

Now my concerns:
1. No ground floor commercial, didn't they read the new book by Zillow?, you need a Starbucks to anchor your neighborhood or yuppies won't move there.

2. More rentals. I realize we live in a society where 1% owns almost everything, but seriously it would be nice to have some actual housing in the city.

Mr. Ozo · #**5436** Posted **Mar 17, 2015, 4:32 PM**

First reaction is that no retail is not ok. They are calling it the railyards but it's on the Downtown side of the tracks and bridges.

Majin · #**5437** Posted **Mar 17, 2015, 4:46 PM**

Quote:

Originally Posted by fouroheight68

Funny you asked, http://www.bizjournals.com/sacrament...uld-begin.html

Wow, really? I hope this proposal gets completely dismantled by the planning commission and the developers sent packing. This is just trying to sneak some suburban developments in the railyards.

The proposal from last week outside of the grid on Stockton and T is even more dense than this and included ground floor retail.

creamcityleo79 · #**5438** Posted **Mar 17, 2015, 4:55 PM**

Quote:

Originally Posted by Majin

Wow, really? I hope this proposal gets completely dismantled by the planning commission and the developers sent packing. This is just trying to sneak some suburban developments in the railyards.

The proposal from last week outside of the grid on Stockton and T is even more dense than this and included ground floor retail.

I do love me some infill projects. But, this is not an area for infill projects. This is an area where Sacramento should go big and set a precedent for future development. This is supposed to be an extension of Downtown, not Del Paso Blvd!

Mr. Ozo · #**5439** Posted **Mar 17, 2015, 5:43 PM**

Quote:

Originally Posted by creamcityleo79

I do love me some infill projects. But, this is not an area for infill projects. This is an area where Sacramento should go big and set a precedent for future development. This is supposed to be an extension of Downtown, not Del Paso Blvd!

You guys need a reality check if you think any of the buildings in the railyard are going to be higher than 5-6 stories. Spoiler alert: they won't be.

Majin · #**5440** Posted **Mar 17, 2015, 5:48 PM**

Quote:

Originally Posted by Mr. Ozo

You guys need a reality check if you think any of the buildings in the railyard are going to be higher than 5-6 stories. Spoiler alert: they won't be.

Why? The court house planned is already taller than 5-6 stories. 14-15 stories I believe?