When SacTownAndy posted the article about the
Master Plan for the Train Station, I did not not want be negative. Thank you innov8 for opening the door.
It's important to keep in mind that the Master Plan for the Train Station is just that, a plan. It isn't an actual proposal for a 25-story hotel, or an office tower, etc. It's just a plan to guide developers and zoning.
I remember getting excited when Sacramento's Master Plan for The Docks Area that was shown on Channel 3. This was probably around 20-25 years ago. The plan included high rise housing, hotels, retail, a park (I think), and museums. What do we have two decades later? Nothing much, if anything at all. It was just a set of drawings and maybe some zoning. It was an exercise in imagination (and futility). It was a dream scenario of what the city wanted to get built. A developer has to actually buy a parcel. Then, he (or she) needs to do a study, and create a proposal, and get funding, and find a contractor, and probably get additional funding after the contractor's sky-high bid.
These pretty drawing probably aren't going to become reality anytime soon. Maybe, after a decade, part of the overall plan will be completed; and it will probably a scaled down version.
Sacramento just does not have enough money to justify these lofty goals right now. If construction prices come down, if more construction laborers enter the market, and/or if investors lower their expectations, then maybe we can see these fantasies come true.
With regard to demand, I think there are plenty of people willing to live in the area. (I just read that Sacramento was the #1 searched city for those wishing to move; and most of those people were from outside the Bay Area.) I think offices will eventually make a comeback. There may not be as many office buildings, and they be designed for less exposure, but I think the pendulum will eventually swing back toward people working in the same space. But, again, Sacramento just has to attract more money to justify the expense of construction.