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  #2981  
Old Posted Jul 21, 2022, 3:33 PM
Son of Travis Son of Travis is offline
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Here's a link to the broker's flyer.

https://files.constantcontact.com/17...c.pdf?rdr=true

No surprise that Ken Turton's team has the listing. I've worked with him on several projects including our ill-fated Villages at Sacramento State (hard to believe that was over a decade ago!).

If anyone can get this thing moving in a meaningful way, his team can...
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  #2982  
Old Posted Jul 21, 2022, 4:58 PM
urbanadvocate urbanadvocate is offline
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Quote:
Originally Posted by Son of Travis View Post
Here's a link to the broker's flyer.

https://files.constantcontact.com/17...c.pdf?rdr=true

No surprise that Ken Turton's team has the listing. I've worked with him on several projects including our ill-fated Villages at Sacramento State (hard to believe that was over a decade ago!).

If anyone can get this thing moving in a meaningful way, his team can...
What is the Envoy project listed under new construction/projects?
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  #2983  
Old Posted Jul 29, 2022, 7:46 PM
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SacTownAndy SacTownAndy is offline
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Market for 301 Capitol Mall is unclear

By Ben van der Meer – Senior Reporter, Sacramento Business Journal
Jul 28, 2022

...Listed by Turton Commercial Real Estate, the 2.39-acre property at 301 Capitol Mall is hitting the block at something of a transitional time for urban downtowns, and Sacramento is no exception.

At least for now, the shiny high-rise office building isn't in vogue, when white-collar employees who would normally fill it are posting up at home offices and dining room tables instead. The two most recent proposals for 301 Capitol Mall were both mostly office space, but couldn't land a big tenant to move forward. It's safe to say that big tenant is no easier to find now.

So if an office tower is likely off the table, the next most likely scenario is the one Turton CEO Ken Turton said potential buyers have floated: multifamily, or a combination of hotel and multifamily. Some ground-floor retail would likely be involved, too.

If the site were to go the direction of condos or apartments, Turton said, future residents could reasonably pay a premium of 10% above a standard new-unit cost just for the location. The only other project that could make a similar claim would be the planned residential tower at 201 N St., a stone's throw from 301 Capitol Mall.

That so-far unnamed project by Southern Land Co. would be 32 stories with 243 apartments. The proposed square footage for that building — the proposal includes two others for non-residential use — is 372,605 square feet.

Turton said making the finances work at 301 Capitol Mall would likely mean a building of 500,000 to 600,000 square feet. That would be significantly bigger — and probably taller — than the 201 N St. residential proposal.

But Southern Land Co.'s project has yet to break ground, though the developers have said they're targeting 2023 to do so. Otherwise, Sacramento continues to be an unproven market for high-rise residential, going back about 15 years to several grandiose but ultimately unworkable proposals floated for Downtown Sacramento.

A buyer looking to break that trend would also have to account for hundreds of apartment units coming online nearby before the site is ever built. In addition to 201 N St., more than 400 units at Sacramento Commons, a block south of Capitol Mall, will start opening in upcoming months.

Combining hotel rooms and apartments/condos in one project is another potential route. Like a strictly residential one, though, a new chunk of hotel rooms have opened in the last year and more are on the way Downtown, so demand for more may be in question...
Full article at: https://www.bizjournals.com/sacramen...Pos=1#cxrecs_s
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  #2984  
Old Posted Apr 11, 2023, 3:19 PM
Bubb90 Bubb90 is offline
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Originally Posted by SacTownAndy View Post
Has anyone heard anything new about 301 Capitol Mall?
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  #2985  
Old Posted May 21, 2023, 1:21 AM
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urban_encounter urban_encounter is offline
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The site has been for sale for awhile but so far no takers.
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  #2986  
Old Posted Apr 3, 2024, 12:16 AM
Bubb90 Bubb90 is offline
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I don't know if this is good or bad

https://www.bizjournals.com/sacramen...itol-mall.html
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  #2987  
Old Posted Apr 3, 2024, 1:11 AM
Pistola916 Pistola916 is offline
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Originally Posted by Bubb90 View Post
I don't know if this is good or bad

https://www.bizjournals.com/sacramen...itol-mall.html

oh God

According to the article, there are no immediate plans for the site. I just don't see a high-rise planned there as owners. They'll probably sit on the site for a very long time since they consider ithe land sacred.
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  #2988  
Old Posted Apr 3, 2024, 1:33 AM
Bubb90 Bubb90 is offline
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I guess the best we can hope for is a nice park


Quote:
Originally Posted by Pistola916 View Post
oh God

According to the article, there are no immediate plans for the site. I just don't see a high-rise planned there as owners. They'll probably sit on the site for a very long time since they consider ithe land sacred.
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  #2989  
Old Posted Apr 3, 2024, 3:41 AM
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Originally Posted by Bubb90 View Post
I guess the best we can hope for is a nice park
That's what I was thinking: park, museum, cultural center, hotel(?) and ect.
I don't think they would really want it to be fenced and have weeds, exposed piles plus whatever else is still there.
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  #2990  
Old Posted Apr 3, 2024, 7:05 AM
SactownScraper SactownScraper is offline
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Hopefully a Casino/Hotel
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  #2991  
Old Posted Apr 3, 2024, 3:13 PM
Bubb90 Bubb90 is offline
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Originally Posted by SactownScraper View Post
Hopefully a Casino/Hotel
I hope!! Are they able to build a casino so far from their actual designated tribal land?
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  #2992  
Old Posted Apr 3, 2024, 4:13 PM
Dieler Dieler is offline
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I believe once they own it, the land will be considered "tribal land" and they can build a casino.

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Originally Posted by Bubb90 View Post
I hope!! Are they able to build a casino so far from their actual designated tribal land?
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  #2993  
Old Posted Apr 3, 2024, 6:52 PM
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As long as it's not tacky or something short like 5 stories then a casino would be ok.
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  #2994  
Old Posted Apr 5, 2024, 1:57 AM
Bubb90 Bubb90 is offline
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Greater Sacramento Economic Council President and CEO Barry Broome was quoted saying this today in the Sacbee "He also expressed excitement of downtown’s revitalization after the purchase last week of 301 Capitol Mall by a Miwok tribe breathed new life into a prime piece of real estate."

I feel he knows about its future development
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  #2995  
Old Posted Today, 6:21 AM
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urban_encounter urban_encounter is offline
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No casinos

I don’t think the tribe has the authority to build a Casino. A tribe attempted to build one in West Sacramento but that proposal was stopped by West Sacramento City Council.
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