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Originally Posted by novatone82
Any word on John Saca and his projects? And did we lose our soccer stadium thread ? just wondering when construction begins ?
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John Saca?!?! Who the hell is he? Hahaha.
Saca is
pretty much a non-factor at this point.
CalPERS now owns the old Towers on Crapitol Mall site... as they have for the past 12 years. They are taking their time to find a good project for the site. CalPERS had partnered with CIM Group many years ago to come up with something. There were a couple different drawings of a 35-
ish story mixed-use building. However, CalPERS fired CIM Group a couple years later. Since then, I haven't heard much in relation to marketing the site or making attempts to lure in a main tenant. I assume CalPERS still would like to build a mixed-use tower (office + housing + hotel). Frankly, I don't think they care to put much effort into the "hole in the ground" right now.
Saca's J Street Metropolitan proposal is probably dead as originally planned. Sotiris Kolokotronis took the lead away from John Saca in July 2018. Saca may still be involved as a "silent," "silent," "go over there and sit in the corner" partner; but I don't think he has much of a say. I haven't heard much about the Metropolitan since that time. Keep in mind, SKK Development is in the middle of multiple other projects and proposals right now. It seems that SKK likes to build a couple projects, lease them up, sell them, and then move on to the next couple of projects. Whatever ultimately gets built on 10th and J, I'm 90% sure it won't be more than 20 floors; and I am 75% sure it won't be more than 14 floors.
Sacramento Republic FC pushed back the stadium development a few months ago. Currently, they're saying construction should begin this Spring and end in 2023. They're also saying the Republic's first MLS season will be in 2023. We'll see... There seems to be some issue involving the owner, Ron Burkle, either agreeing to pay the $200 million expansion fee, or finalizing agreements with the MLS. There was a "bad news" rumor going around a couple weeks ago, but the Republic said that things were fine.