Sacramento Proposal/Approval/Construction Thread - III

[Web]

I can answer the Nassi and money thing......

He is a scammer who goes from town to town.......

someday no one will listen.

[TowerDistrict]

who is he scamming though? he's gotta return those deposits now, pay
the City for their time, and pay the engineers and architects eventually...

[Fusey]

How well are the L Street Lofts selling? Maybe medium-sized projects are the way to go at this point (at least until the market is ready again).

[Web]

who is he scamming though? he's gotta return those deposits now, pay
the City for their time, and pay the engineers and architects eventually...

has it been shown that he ever pays architects and engineers??????
he probably mae some etra cash on the deposits......
The guy is a sleaze and Sac is lucky he didnt build halfa buildingand run away like reno etc etc

[TowerDistrict]

I'm not defending the guy.

It just goes back to what i've been saying for months now....
how the hell does he make money?

[Ryan@CU]

Nothing is ever accomplished by
sitting on your ass and watching the world go by.

I'm printing this out and posting it on my bathroom mirror

[travis bickle]

Sacramento's in a tough spot right now. No high-rises went up in one of the best market cycles in history. As has been discussed, Sacramento got such a late start (due, in my view, to a lack of confidence), that nothing above 200' was built - and that was as part of a hotel. Trying to get financing now for what is, in Sacramento, an unproven market, will be difficult at best. The spectacular failures of the most notable residential high-rises doesn't help.

Frankly, I don't see it until at least 2009. And I mean to start the process. That means no steel until 2011.

Just look at it... We're going to need the present disastrous real estate markets to regain balance. We're going to need the mortgage markets to loosen again (obviously, not to the pre-bust levels of 2003-2006). We're going to need equity markets to regain strength. We're going to need to build upon the success of mid-town's mid-rises as proof of the market. This will be difficult in our current cycle.

We're also going to need the right political climate and real leadership. We'll need an aggressive and savvy redevelopment agency that can develop sufficient revenue streams to jump-start projects. And we'll need leadership that can effectively battle the "old Sacramento" that wants it to forever remain a cow-town that they can spend all of their waking hours complaining about.

I sincerely hope I'm wrong but Jeez...2009 may be optimistic...

[TowerDistrict]

I don't think waiting that long should be an option. The properties where some
of these highrises were to go have been vacated and now stand as black
holes in the city. I don't think it should be tolerated to empty out business and
sit on your proposal till you feel it's the perfect time. Even Mohanna keeps a
few buildings occupied while he "works" on his "redevlopment plans".

[travis bickle]

I don't think waiting that long should be an option. The properties where some
of these highrises were to go have been vacated and now stand as black
holes in the city. I don't think it should be tolerated to empty out business and
sit on your proposal till you feel it's the perfect time. Even Mohanna keeps a
few buildings occupied while he "works" on his "redevlopment plans".

I'm with you TD. I wish it weren't an option. But Sacramento really fumbled the ball during the most conducive market for residential high-rises in history. Unless local leaders make an offer a developer can't refuse (can you imagine the squealing!!!), I don't see it anything before 2009. And even getting something started by 2009 will require a developer willing to take a huge risk with a large equity position and a welcoming political climate.

[TowerDistrict]

I guess that's what stings the most. When things looked like they were
going to get better for the downtown area, they ended up getting worse.
Who would've thought that the geaming buildings we saw on the horizon
would actually lead to increased blight?

[travis bickle]

I guess that's what stings the most. When things looked like they were
going to get better for the downtown area, they ended up getting worse.
Who would've thought that the geaming buildings we saw on the horizon
would actually lead to increased blight?


It does sting. Badly. What makes it all the more painful is how close Sacramento came. Six months would have made all of the difference. Maybe even three.

The Towers had the sales. It didn't have the time.

It's painful to those like you who aim high and want to see Sacramento aim high.

Gotta shake it off and come out swinging. But this incredible opportunity for Sacramento to step out of its self-inflicted shadow was wasted. That's not to say all is lost. As I've repeatedly said, many great things are happening in a wide spectrum of Sacramento neighborhoods.

But it coulda, shouda, woulda been spectacular. Now it won't be for far too many years to come.

[friedpez]

I think Sacramento does offer a good market for highrise living, but I think the proposals were too high-profile and really skipped out on the midrange buyers. If, for example, the Metropolitan had been promoted first, I think it could have done really well; midrange buyers would have bought midrange units, and higher-end buyers would have filled out the top floors. And construction would have continued straight through this housing downturn, as we're seeing in other cities. Then, hopefully, the Metropolitan project could have spurred more interest in highrise living and kicked off more projects, like Aura & the Towers (for the affluent) and more mid-range projects (like the Library Lofts on I Street). Just my two cents, and yes, I could be wrong in many ways... this is just one way to think about it, I suppose. :rolleyes:

[BrianSac]

I think Sacramento does offer a good market for highrise living, but I think the proposals were too high-profile and really skipped out on the midrange buyers. If, for example, the Metropolitan had been promoted first, I think it could have done really well; midrange buyers would have bought midrange units, and higher-end buyers would have filled out the top floors. And construction would have continued straight through this housing downturn, as we're seeing in other cities. Then, hopefully, the Metropolitan project could have spurred more interest in highrise living and kicked off more projects, like Aura & the Towers (for the affluent) and more mid-range projects (like the Library Lofts on I Street). Just my two cents, and yes, I could be wrong in many ways... this is just one way to think about it, I suppose. :rolleyes:

I think Saca would have hit his 50% mark in sales if Aura were not on the table at the same time. The sales that Nassi secured could have been Saca's and the Towers would have got their financing. Saca was off by only 5-10% before CalPers pulled the plug.

[snfenoc]

I doubt competition from Aura had much to do with Saca's failure to deliver the Towers. The issue wasn't really the percentage sold, it was the high (and rising) cost of construction, combined with the market's inability to support that cost.

If your pricing structure will net you around $100 million (and that's the best you can get out of the market), but the estimated cost of construction is $130 million, I seriously doubt you'll get the necessary funding from lenders.

[travis bickle]

I doubt competition from Aura had much to do with Saca's failure to deliver the Towers. The issue wasn't really the percentage sold, it was the high (and rising) cost of construction, combined with the market's inability to support that cost.

If your pricing structure will net you around $100 million (and that's the best you can get out of the market), but the estimated cost of construction is $130 million, I seriously doubt you'll get the necessary funding from lenders.

This is where Saca's inexperience may have cost him. I have had projects go over budget... but never $30 million over budget. I'd love to know who prepared his original budgets... and then never hire them.;)

[friedpez]

I agree that his budgeting was probably way off. But rising costs haven't affected all other projects throughout the state as they did in Sacramento. Many condo projects were announced in San Diego several years ago, but are still under construction right now despite the sharp rise in material costs over the past few years. I just think it was a perfect storm of factors in Sacramento: too many high-end projects that took buyers from one another, a lack of more moderate units, rising costs, a downturn in the housing market, and inexperienced (Saca)/idiotic (Nassi) developers, basically.

[ozone]

I understand the disappointment most of you feel that the highrises never materialized, however, speaking as a Midtown resident and business owner I can say that there's still a good bit of infill uc/or in-the-works and in one way the demise of the Towers and Aura was a blessing for the smaller projects.

Talking to L Street Lofts, it seems that people who had deposits in those projects have instead bought into these smaller projects because they are people who still want to live in the Downtown/Midtown area.

We can debate forever the whys & hows of the local highrise condo towers bust. We can get on the typical Sacramento negativity bandwagon and forget that good things are still hapening and that overall we are moving in the right direction.

[SacUrbnPlnr]

How well are the L Street Lofts selling? Maybe medium-sized projects are the way to go at this point (at least until the market is ready again).

_________________________
The L Street Lofts have sold just under half the 92 units so far. I was in the sale office this morning to arrange to a preview tour next weekend of the unit my spouse and I purchased. Sales staff are estimating completion at mid-December. We should know for certain soon.

Given the current market, I suspect that most interested buyers will want to wait until they can see the finished product (notwithstanding that several model units have been open for some time now). Perhaps sales will pick up after the Lofts are completed.

SacUrbnPlnr

[ozone]

_________________________
The L Street Lofts have sold just under half the 92 units so far. I was in the sale office this morning to arrange to a preview tour next weekend of the unit my spouse and I purchased. Sales staff are estimating completion at mid-December. We should know for certain soon.

Given the current market, I suspect that most interested buyers will want to wait until they can see the finished product (notwithstanding that several model units have been open for some time now). Perhaps sales will pick up after the Lofts are completed.

SacUrbnPlnr

No doubt that will be the case and that's what they are thinking as well. By the way I understand Aqua restaurant (of San Francisco) is going to have a branch in the L Street Lofts and The Real Pie Company is moving there too.

[TowerDistrict]

Not-so-incredible midtown hulk
will soon become the fashionable 2020 L
By Bob Shallit - bshallit@sacbee.com
Last Updated 7:36 am PDT Monday, October 29, 2007
Story appeared in BUSINESS section, Page D4 (http://www.sacbee.com/131/index.html)

http://media.sacbee.com/smedia/2007/10/28/19/686-rendering.highlight.prod_affiliate.4.jpg

John Pappas doesn't have great things to say – yet – about the vacant office building his family owns at 2020 L St.

"It's one big mass – stark and institutional," he says of the hulking, six-story structure. But he brightens when talking about its future. A $3 million "extreme makeover" now under way will give the building "an eclectic modern feel that fits right into midtown," according to Pappas.

Some interior work has already been completed on the 9-month project. The once-drab lobby now has the feel of a stylish hotel, with terrazzo flooring, chic light fixtures, flat-screen TVs and contemporary art.

The 154,000 square feet of office space – occupied until 2002 by the state's Air Resources Board – will be updated and converted into "Class A (quality) at a Class B price," says Tom Bacon, part of a Cornish & Carey Commercial team of brokers who are marketing the building. (Rates will be about $2.25 per square foot, compared with $3 and up in similar space downtown.)

But the biggest change will be the building's exterior. A limestone facade will circle the building at eye level. New windows will be added and an aluminum-framed glass marquee will extend over the building's entry, highlighted by an art deco-inspired, illuminated sign with the building's new name: 2020 L.

An expansion of the building's recessed penthouse floor also is planned. Bacon says Cornish is in talks with numerous potential tenants, including law firms and environmental consultants.

The main pitch: good value, open floors that can accommodate large or small users and – a midtown rarity – ample parking in the Pappas-owned garage across L Street. Cornish is also touting the building's proximity to nearby eateries. Its promotional brochure even maps out the dining possibilities, from the upscale – Mulvaney's, Waterboy and Zócalo – to eat-and-runs like Togo's and Subway sandwich shops.

One way to a prospective tenant is through the stomach, it seems.

http://media.sacbee.com/smedia/2007/10/28/19/867-pappasmap.embedded.prod_affiliate.4.jpg

[SacUrbnPlnr]

No doubt that will be the case and that's what they are thinking as well. By the way I understand Aqua restaurant (of San Francisco) is going to have a branch in the L Street Lofts and The Real Pie Company is moving there too.
------------------
That's still the rumor. Should probably know shortly after the Lofts are ready to occupy based on activity on the commercial spaces.

[TowerDistrict]

The Real Pie Company moving to L Street? That's actually a bit of a blow to
Alkali Flats. I mean, it's good that they're moving up, so to say, but with
Sampino's, Real Pie and 524 back open, things were looking good in the hood.

[innov8]

http://img292.imageshack.us/img292/2707/metojn9.jpg (http://imageshack.us)

The Planning Commission approved the Metropolitian on Oct. 25th and the project has
all the entitlements needed accept for Design Review approval which is tentatively
scheduled for Design Commission on November 29. After Design Commission
approval, the project could submit for building permits. The permits approved
on October 25, 2007 are valid for three years.

If the tower goes with hotel and condos, the new height would be 435'

[sugit]

This is some good news....only 10 years in the making by the time they break ground. It wasn't a ton of money the city was putting into this project, but anything back for other projects is a good thing.

http://www.cadanet.org/capitol_lofts.php
__________________________________________________________________

The Capitol Lofts project has reached an important milestone!

In October, 2007, the Developer entered into a Revised and Restated Disposition and Development Agreement (DDA) with CADA that outlines the terms and conditions for development of this project. The changes to the DDA have been approved by the Developer and the CADA Board to reflect changes that have been made in the financing of the project, the Developer's partnership structure, and project schedule. These changes will add significant new momentum to the development this long-awaited project.

The project will become an all-market rate project and the City of Sacramento's contribution to the project for affordable housing will be used for other purposes. CADA's contribution to the project will be in the form of a loan, rather than a combination of loans and grants.

Holliday Development has become the manager of the Development entity, Capitol Lofts, Sacramento, LLC and will be leading the development effort starting in October 2007.

Construction drawings are being finalized now and will be submitted to the City for issuance of building permits during the first quarter of 2008.

CADA anticipates transferring the property to the Developer during the third quarter of 2008, with construction starting within 30 days following the property transfer. CADA and the Developer anticipate construction will be complete in the Summer of 2010.

[kryptos]

does anyone know the name and date of completion of the new mall in elk grove?

[creamcityleo79]

does anyone know the name and date of completion of the new mall in elk grove?
That was random. But, it's the Elk Grove Promenade. I have no idea about the completion.

[Majin]

does anyone know the name and date of completion of the new mall in elk grove?

3 day ban.

[TWAK]

I guess saying Elk Grove would be the equivalent of saying Bush in the skybar. Especially if it's something GOOD........WATCH OUT.

[kryptos]

3 day ban.


I asked for my girlfriend who has just cant stay out of the malls

dont get so testy Mr Mayor

[kryptos]

I guess saying Elk Grove would be the equivalent of saying Bush in the skybar. Especially if it's something GOOD........WATCH OUT.

So The Decider is equated to a suburban shopping mall?

[creamcityleo79]

So The Decider is equated to a suburban shopping mall?
I will say only this...at least you can get some good things out of a shopping mall!

[kryptos]

I will say only this...at least you can get some good things out of a shopping mall!

Amen

[Ryan@CU]

gotcha

[creamcityleo79]

Has anyone else noticed that Google Earth updated Sacramento? or is that just me?

http://img.photobucket.com/albums/v238/MagnaRyan/G1.jpg
http://img.photobucket.com/albums/v238/MagnaRyan/G2.jpg

it's not just you...check the What's going on in Sacramento chit-chat thread.

[TWAK]

I will say only this...at least you can get some good things out of a shopping mall!
something nice to say...on this forum....about a suburb....?

watch your back buddy!


:haha:

[creamcityleo79]

something nice to say...on this forum....about a suburb....?

watch your back buddy!


:haha:
When comparing a suburb to George Bush, the suburb is like paradise!

[innov8]

The manlift is being put into place at 500CM for when steel starts to arrive next
Monday. The tower crane will probably go up after 7 or 8 floors are up like
what happen at 621CM.

:leek: :tomato: :whip:

[innov8]

$400K to design a high rise? Would you believe $300K? $200K?
Sacramento Business Journal

Friday, November 2, 2007

The break between Craig Nassi and the architects on his proposed Epic condo tower in downtown Sacramento didn't come out of the clear blue sky.

Nassi had twice bargained down the fee owed to Studio Daniel Libeskind and Stantec Consulting Inc. for the tower he hoped to build at 12th and J streets before the designers ended their agreement for non-payment, the design team said.

Nassi, of BCN Development in Denver, last paid $187,000 in 2005 for the design and owed about $400,000 for later work, according to a letter from a lawyer representing the designers. He got a reduction to $300,000, then to $200,000 paid in installments over eight weeks, but failed to deliver, the letter said. That led the designers to pull the plug last month, which in turn led to yanking the application.

Nassi said Epic isn't dead, just on hold. "We don't feel comfortable spending a lot of money on architecture and design when we don't know if we'll ever be able or when we'll be able to do this project," he said. He said he's an expert in financing such projects and "the financing's not there ... right now."

Libeskind was also the architect on the proposed Aura condo tower.

And speaking of Aura ...

Developer David Taylor shared a closely held secret with about 650 people a few weeks ago -- he is considering whether to take on the long-delayed Aura condos project on Capitol Mall downtown. (I knew of this several months ago)

Taylor, a guest speaker at the Business Journal's economic forecast conference on Oct. 24, said he could decide by the end of the year if he'll develop the property he owns at 6th and Capitol that once was slated for the $175 million residential high-rise. Nassi and BCN have not secured financing for Aura.

Nassi had an option on the land owned by Taylor, who is finishing the 25-story U.S. Bank Tower next door. But with Aura stalled -- the city withdrew a $10 million loan offer and deep-pocketed lenders are passing in the project -- plans for the high-profile site are uncertain. "It got a lot of interest from buyers," Taylor said. Downtown's "first high-rise condo tower will be very well done."

Promise or speculation? Taylor said he would not decide, or comment, until the end of the year.

[TowerDistrict]

That's great news... that's better than anything actually. If there's one person
at the moment who could pull it off, it's Taylor. I would also think that
developing that parcel into something along the lines of Aura would increase
the value of both properties, 601 & 621.

[travis bickle]

Man, isn't that splendid news. I don't know Taylor from Adam, but his track record suggests he isn't one to make baseless boasts.

[urban_encounter]

Developer David Taylor shared a closely held secret with about 650 people a few weeks ago -- he is considering whether to take on the long-delayed Aura condos project on Capitol Mall downtown. (I knew of this several months ago)

Taylor, a guest speaker at the Business Journal's economic forecast conference on Oct. 24, said he could decide by the end of the year if he'll develop the property he owns at 6th and Capitol that once was slated for the $175 million residential high-rise. Nassi and BCN have not secured financing for Aura.

Nassi had an option on the land owned by Taylor, who is finishing the 25-story U.S. Bank Tower next door. But with Aura stalled -- the city withdrew a $10 million loan offer and deep-pocketed lenders are passing in the project -- plans for the high-profile site are uncertain. "It got a lot of interest from buyers," Taylor said. Downtown's "first high-rise condo tower will be very well done."

Promise or speculation? Taylor said he would not decide, or comment, until the end of the year.

That would be wonderful. (But I'm not going to hold my breath)..

Eitherway, Nassi doesn't own the plans to Aura, so Taylor can pick them up quite easily from Libeskind's studio.

[jsf8278]

I would also think that
developing that parcel into something along the lines of Aura would increase
the value of both properties, 601 & 621.

that's what I was thinking. Having a dirt lot, or parking lot as a next door definitly does not increase the value of US Bank.

[JeffZurn]

Absolutely wonderful news, lets hope that hearing something by the end of this year means this year and not 8 months down the line. I think Taylor knows what he is doing, and has his stuff together a lot better then Nassi. But on the other hand I still hope Nassi can pull one at of his hat and get moving on Epic. I know pipe dream but I’m still hoping.

[innov8]

That's great news... that's better than anything actually. If there's one person
at the moment who could pull it off, it's Taylor. I would also think that
developing that parcel into something along the lines of Aura would increase
the value of both properties, 601 & 621.


If Taylor doe's go with Aura, I think he will still have a couple more years to
pick-up the permits before they expire. The project would be ready to go
with the EIR compete. I think the big hang-up would be wooing back buy’s to
pony up cash so that the tower would pencil out and make a profit.

But, it's great news for sure!!!

[foxmtbr]

Wow, that would be great! I think if anyone can do it right now, it's Taylor.

[TowerDistrict]

If Taylor doe's go with Aura, I think he will still have a couple more years to
pick-up the permits before they expire. The project would be ready to go
with the EIR compete. I think the big hang-up would be wooing back buy’s to
pony up cash so that the tower would pencil out and make a profit.

But, it's great news for sure!!!

So Taylor owns the land, but would have to purchase the design from
Libeskind and Stantec. Now, does Nassi own the reports and permits?
Would Taylor have to buy Nassi out on permits to build on land that
Nassi doesn't own?? Kinda of a strange situation isn't it?

[Majin]

That would be great if Tayor annouces he will take over the project. If he does, baring some extreme circumstances, it is almost sure it will get built. Hes in a great position, he has the permits and EIR ready to break ground right away and will not have to wait on the city for anything at all. Maybe he can partner with Tsakopolous and cut the need for financing out the picture.

[innov8]

The reports and permits were all done under the 621CM development plan.
In 1999 when 621CM first was started, an EIR was done for two towers on
the block. The second tower at the time was not identified other than it could
be a hotel, office or condos with X amount of square feet and X total height.
The foot print in the diagrams of the EIR for where Aura is now planned was
at the time a half circle for where the proposed tower could be.

It appears that Nassi has only paid for the model on the site, advertising and
sales people up to this point. If he has paid for any reports or permits, the city
doe's not appear to have any records of them that I know of.

I have the 600 page EIR doc. at home... I'm such a geek :)

[TowerDistrict]

hehe.. a little light reading before you crash at night?

Do you remember a while back that someone from the City was quoted in
an article about Aura as saying that the permits where at the desk, waiting
to be picked up? Or something to that effect?

And yeah, at least Nassi comes out of this whole ordeal with a really cool model!

[innov8]

hehe.. a little light reading before you crash at night?

Do you remember a while back that someone from the City was quoted in
an article about Aura as saying that the permits where at the desk, waiting
to be picked up? Or something to that effect?

And yeah, at least Nassi comes out of this whole ordeal with a really cool model!

Yeah, you got it right. All he has to do (or maybe someone else) is pay
what's owed for the permits. I bet the city would gladly write up the
permits under Taylor’s name so they could get the money for city coffers.

[ozone]

That's great news... that's better than anything actually. If there's one person
at the moment who could pull it off, it's Taylor. I would also think that
developing that parcel into something along the lines of Aura would increase
the value of both properties, 601 & 621.

I totally agree with you TD. David is smart, has a lot of experience here and across the country, has a great working relationship with the City and has said that one of his life goals is make downtown Sacramento prosper. The fact that he looking at doing this is very good news. I hope he can make it work.

[arod74]

I think if the housing market makes even a slight recovery in early 08, there's a pretty good chance Taylor might push forward. Not sure who mentioned it, but supposedly the architectual plans for Aura were some of the most efficient around for maximizing sq/ft per dollar and if anyone can make the numbers pencil out and get something like this off the ground around here its Taylor. His track record speaks for itself.

[TowerDistrict]

One of the main problems cited with Nassi's handling of Aura was that the
units were sold at too low of a price - not initially - but after the constuction
cost hikes that also plagued the Towers.

If the deposits are returned from BCN and Taylor takes over the project, I
would presume the project would be able to wipe the slate clean, and
Taylor would be able to compensate if the building's units went back up for sale.

[sugit]

Plus, another big key for Taylor is he already owns the land, he doesn't need to pay someone 12-15M (like Nassi was going to pay Taylor). That's amount right there was a good chunk of the secondary financing.

[TowerDistrict]

We read this article every year...

So here's this year's edition of "Sacramento's riverfront is someday gonna be really great! (http://www.sacbee.com/245/story/470611.html)".

[DALINSAC]

We read this article every year...

So here's this year's edition of "Sacramento's riverfront is someday gonna be really great! (http://www.sacbee.com/245/story/470611.html)".

Sadly, that's true. Same story, different year. I wasn't in the Sac area too long back in the mid to late 90's. A co-worker of mine was really excited about many proposed waterfront projects. The small waterfront promenade near old Sac was being built at the time. He would go down there during his lunch and check out the development. Fast forward to today and I look at that promenade and I get a real 'unfinished' feel. Not much too it. It's always empty. Seems like the visitors in old sac just don't spill over that far. You would think more people would be sitting on the benches, relaxing, strolling etc. I suppose it was to be a start for other projects to built around it. Then, the whold area will tie together and bring vibrancy. Just a guess

[econgrad]

I agree, I was reading it and caught myself being very excited, but alas, I am tired of these news stories that do not come true. I still remember the Sacramento Magazine issue about a year or a little more that was about "The New Downtown", featuring Aura, the Towers, etc..etc..etc..
I will be very happy to see any of the river developments, no matter how small or big, begin construction though, a little is better than nothing...

[enigma99a]

I agree, I was reading it and caught myself being very excited, but alas, I am tired of these news stories that do not come true. I still remember the Sacramento Magazine issue about a year or a little more that was about "The New Downtown", featuring Aura, the Towers, etc..etc..etc..
I will be very happy to see any of the river developments, no matter how small or big, begin construction though, a little is better than nothing...


Some on this board were really pessimistic during the "boom" period and now you can see why. It's because they have been through huge proposals before and nothing ever comes to fruitation. At least we did get a couple good office buildings out of it.

[creamcityleo79]

Some on this board were really pessimistic during the "boom" period and now you can see why. It's because they have been through huge proposals before and nothing ever comes to fruitation. At least we did get a couple good office buildings out of it.

We also got quite a few very good smaller projects that are changing the face of Midtown Sacramento. There will be other projects in the future. The market is being proven with the current Midtown stock in the midst of the housing crisis. I am still optimistic!

[Ryan@CU]

Sadly, that's true. Same story, different year. I wasn't in the Sac area too long back in the mid to late 90's. A co-worker of mine was really excited about many proposed waterfront projects. The small waterfront promenade near old Sac was being built at the time. He would go down there during his lunch and check out the development. Fast forward to today and I look at that promenade and I get a real 'unfinished' feel. Not much too it. It's always empty. Seems like the visitors in old sac just don't spill over that far. You would think more people would be sitting on the benches, relaxing, strolling etc. I suppose it was to be a start for other projects to built around it. Then, the whold area will tie together and bring vibrancy. Just a guess

There's not enough to do in the area. If they had some cafe's or something like that along the dock it would be different, but other than going to dinner, there's no reason why I would go over there.

[DALINSAC]

There's not enough to do in the area. If they had some cafe's or something like that along the dock it would be different, but other than going to dinner, there's no reason why I would go over there.

I agree. That would be really nice. Cafes or similar. Right now, there is just parking spaces behind it.

[snfenoc]

From the Sacramento Bee: http://www.sacbee.com/749/story/474857.html

Another downtown high-rise? Developer zeroes in on 15th and K
By Bob Shallit - bshallit@sacbee.com
Published 12:16 pm PST Tuesday, November 6, 2007
Yet another office tower could sprout in downtown next year.

AKT Development, owner of the Meridian Plaza building at 14th and L streets, last week submitted plans for a sister building, the 24-story Meridian II.

The new tower would sit on the opposite corner of the same block, at the northeast intersection of 15th and K, and would be the third AKT-owned building on the block. The other is the former Pac Bell "switching" site at 1414 K, which is undergoing a complete renovation as office space.

Why even consider another office building when two skyscrapers now under construction on Capitol Mall threaten to blow up downtown's vacancy rate?

"There's a lot of uncertainty about real estate in general and downtown in particular," acknowledges Eleni Tsakopoulos-Kounalakis, AKT's president.

But, she says, the several-block area around the original Meridian Plaza forms a particularly appealing "micromarket," in demand by office tenants seeking proximity to the Capitol, walkable access to the rash of new eateries and an address close to other high-end offices.

If there's enough interest by prospective tenants, AKT could start construction by spring, Tsakopoulos-Kounalakis says.

Besides its location, the building offers a couple of special attractions, she says.

It will be the first private-sector tower in the area built to LEED energy-saving standards, she says. (Plans include a "green" wall of plants covering one side of the structure.)

AKT also hopes to get city permission to close off the small alley between 14th and 15th and turn it into a pedestrian plaza and focal point for the company's three buildings.

"We're creating a 'there' there," Tsakopoulos-Kounalakis says of the plaza plans. "We're not just putting up another building."

[jsf8278]

You what's so cool about skyscraper page? Knowing about all these projects before the Bee decides they are important and eventually reports on them.
So my question is...where do you guys get this info from? Is it available on some city council website?

[TowerDistrict]

The people on this forum have lots of different sources.. a few have
insiders that drop bits of info.

I know i just watch the City Council agendas (http://sacramento.granicus.com/ViewPublisher.php?view_id=7) now and then, and I'm on
several mailing lists for projects. Also, neighborhood and/or business
associations usually find out about projects before they even reach the City
Council, so they're a good source of info - but they're usually heavily biased.

You can even check on specific properties (http://cityofsacramento.org/dsd/reference/application-search/) and see if they're pulled any
permits or have made any inquiries, as I do once in a while. Another good
source is the City's Development Services Dept. (http://cityofsacramento.org/dsd/projects/)

And it's not really the Bee's fault that they report on it later than this
forum does. They have to make sure their sources are reliable and that
the story isn't just a rumor. Rumors are fun to spread here, but the Bee
holds a bit more responsibility than that.

[cozmoose]

Any news about "Citizen" hotel? :shrug:

[JeffZurn]

Any news about "Citizen" hotel? :shrug:

They still say to open in fall of 2008, but I found this website that could get a tour a little earlier then that.

http://www.ulisacramento.org/documents/ylg/YLGMixerNov07.pdf

[TowerDistrict]

Probably the sexiest project to hit the central city hoods this past year,
1901 Broadway, will go before the Planning Commission (http://www.cityofsacramento.org/dsd/meetings/commissions/planning/2007/CPC-11-08-2007-Agenda.cfm) tomorrow evening.
As with everything else, the LPCA (http://www.landpark.org/) is opposing this project... so if you're a
well spoken individual who cares to see quality projects breathe new life into
the Broadway Corridor / Tower District, feel free to stop by and let the City
know how much you love it... and you know you do.

Millennium Real Estate Service's Website (http://www.mresnnn.com/) (for more info and renderings)

http://www.sacfrg.org/images/1901-night.jpg

[aufbau]

^that's definitely the sexiest rendering i've seen of a Sacramento project.

[arod74]

Yes, Broadway could offer so much more than it currently does. A project like this would definitely inject some much needed life..

[TowerDistrict]

^that's definitely the sexiest rendering i've seen of a Sacramento project.


The LPCA is also opposing its sexiness, citing...

"The LPCA finds the proposed development at 1901 Broadway in discordance
with the newly established General Plan's guidelines of sexiness per acre in
developments adjacent to transit stations. It is with our regret that the LPCA
must oppose 1901 Broadway in its current form as it is in fact, too sexy."

[Majin]

I know I'm going to hear it from you guys but planting too many trees as depicted by the rendering could ruin it.

The project looks great, but it looks like potentially it could be nearly completely blocked by trees.

[creamcityleo79]

I know I'm going to hear it from you guys but planting too many trees as depicted by the rendering could ruin it.

The project looks great, but it looks like potentially it could be nearly completely blocked by trees.
Consider this you hearing it from me!!! :P

[robw340]

I know I'm going to hear it from you guys but planting too many trees as depicted by the rendering could ruin it.

The project looks great, but it looks like potentially it could be nearly completely blocked by trees.

Trees enhance any project, specially in Sac ...They are about what get the most compliments from out of town people i know...

[TowerDistrict]

Either way... all the trees you see on the 19th Street side (left) of the rendering
are existing trees and will more than likely remain where they are.

[cozmoose]

trees obscure good looking projects like this during summer...then come fall, its a mess with all the leaves on the ground. :haha:

[kryptos]

I know I'm going to hear it from you guys but planting too many trees as depicted by the rendering could ruin it.

The project looks great, but it looks like potentially it could be nearly completely blocked by trees.

i guess you would like Sac to resemble Bakersfield..

We need MORE TREES

[goldcntry]

Sure... just as long as the trees are as sexy as the render... Trees can be the perfect acessory or an ugly eyesore. Make sure they're sexy trees please!:naughty:



Suddenly, I feel like having a cig...


:tomato:

[DALINSAC]

I have always liked the Broadway street area. This will be a great enhancement! There was an article a few years back about a developer who was focusing on the area regarding retail and housing with a transit-oriented neighborhood. I cannot recall who that was. Perhaps this is the same developer.

[TowerDistrict]

1901 Broadway (Broadway Lofts) has been written up a couple times by
Bob Shallit (http://sacbee.com/131/index.html) at the Bee. He also reported on Freeport Bakery moving into the
project upon completion. Though, with all due credit, The Central City Opinion (http://centralcityopinion.blogspot.com/)
reported that rumor several weeks before the story broke in the Bee.

[DALINSAC]

1901 Broadway (Broadway Lofts) has been written up a couple times by
Bob Shallit (http://sacbee.com/131/index.html) at the Bee. He also reported on Freeport Bakery moving into the
project upon completion. Though, with all due credit, The Central City Opinion (http://centralcityopinion.blogspot.com/)
reported that rumor several weeks before the story broke in the Bee.

Thank you TowerDistrict. I should have done my homework. I just accessed the link to Milleneum Real Estate. Yep. That's the same developer. More housing developed around transit. I love it.

[Majin]

i guess you would like Sac to resemble Bakersfield..

We need MORE TREES

No, I want Sac to resemble Tokyo.

[urban_encounter]

As with everything else, the LPCA (http://www.landpark.org/) is opposing this project... so if you're a
well spoken individual who cares to see quality projects breathe new life into
the Broadway Corridor / Tower District, feel free to stop by and let the City
know how much you love it... and you know you do.


They (The LPCA) are determined to ensure that Broadway turns into another Stockton Blvd. (To their own neighborhoods inevitable demise).

It will serve them right.....

[kryptos]

No, I want Sac to resemble Tokyo.

Only if the women resemble Tokyo's....:D

[DALINSAC]

They (The LPCA) are determined to ensure that Broadway turns into another Stockton Blvd. (To their own neighborhoods inevitable demise).

It will serve them right.....

...and for what reason would LPCA oppose to a project like this? I'm not real familiar with Land Park's LPCA

[TowerDistrict]

...and for what reason would LPCA oppose to a project like this? I'm not real familiar with Land Park's LPCA

They're likely the most over zealous NIMBYs in the state of California.


The LPCA opposes the project on the following grounds...

- Building height (too tall. want it limited to 4 stories)
- Building use (want mixed use on X street)
- Site plan (want more access points to parking, a wider driveway and proof to long-term parking access at adjacent lot)
- Design (want more detail in fenestration and surface detail, varying roof line, greater use of materials and architectural details)
- Sense of place (want entry monumentation on 19th and B'Way)
- Sidewalks (want larger sidewalks)
- Landscaping (want large canopy shade trees and landscaping strips on all street frontages)
- Lighting (want historic cast iron acorn lights surrounding the project)
- Utilities (want existing utilities to be buried underground)
- Signage (plan to oppose any electronic signage)

[goldcntry]

They're likely the most over zealous NIMBYs in the state of California. Second only to the East Sac NIMBYs..

So I couldn't resist. Blame it on the stupid meetings that I had to go to this morning, but my sarcasm is kicking in... ;) Here is my version of Tower District's list:

The LPCA opposes the project on the following grounds...

- Building height - too tall. want it limited to 2 stories
- Building use - waaaay too much stuff going on. It can't have any type of commerce/living/dining going on that would interfere with the drunks and bums falling off lightrail at the Broadway station
- Site plan - want more access points to parking, i.e. to completely cover lot but still allow for landscaping listed below
- Design - musn't look newer than the heritage auto dealership shed on the south side of Broadway as this would be unfair. Must contain an equal number of boarded up windows as the old Ringup Rivet building at 24th and Broadway. Plus, no spire allowed: Way too sexy for our sensibilities
- Sense of place - must blend in with the other ramshakle heritage buildings and open space around. Special studies must be conducted to determine whether the natural fuana (weeds) in the lot are protected species
- Sidewalks - want larger sidewalks to accomodate 2 shopping carts and a sleeping slacker teenager
- Landscaping - want large canopy shade trees and landscaping strips on all street frontages but make sure that they're not too sexy
- Lighting - want historic cast iron acorn lights surrounding the project that may only be lit on the 4th of July
- Utilities - want existing utilities to be preserved to match the rest of the neighborhood
- Signage - plan to oppose any electronic signage. NOTE: Neon is allowed provided it proclaims "Hystrionic Broadway" in colors that match the T_WE_ neon.


:angel:

[DALINSAC]

They're likely the most over zealous NIMBYs in the state of California.


The LPCA opposes the project on the following grounds...

- Building height (too tall. want it limited to 4 stories)
- Building use (want mixed use on X street)
- Site plan (want more access points to parking, a wider driveway and proof to long-term parking access at adjacent lot)
- Design (want more detail in fenestration and surface detail, varying roof line, greater use of materials and architectural details)
- Sense of place (want entry monumentation on 19th and B'Way)
- Sidewalks (want larger sidewalks)
- Landscaping (want large canopy shade trees and landscaping strips on all street frontages)
- Lighting (want historic cast iron acorn lights surrounding the project)
- Utilities (want existing utilities to be buried underground)
- Signage (plan to oppose any electronic signage)

Wow. Thanks. You really know your stuff. Thanks for all this info!

[TowerDistrict]

Well to give a little credit to the LPCA, they know their stuff. That's how
they're able to exploit city guidelines and ordinances to such an extent.
And I'm not actually "anti" LPCA or anything... I just feel that their reach
is ofter longer than their sight.

[innov8]

This is a page from the Colliers International Downtown Sacramento Overview
August 2007 Report Summary. I would say this is the most detailed and current
report available regarding Downtown/Midtown.

Link: COLLIERS SACRAMENTO Downtown Report 08.2007 (http://www.colliersmn.com/prod/ccgrd.nsf/publish/1CDFE4E1B583B811882573450078579E)

http://img144.imageshack.us/img144/9238/colliersreporttopce2.jpg (http://imageshack.us)
http://img144.imageshack.us/img144/6329/colliersreportbottommr1.jpg (http://imageshack.us)

[Majin]

Question, does the LPCA actually have any power? Can the city just give them the finger and approve the project right away without any reprocussion? Does the LPCA actually have the money/power/political weight to sue with any teeth?

[urban_encounter]

Question, does the LPCA actually have any power? Can the city just give them the finger and approve the project right away without any reprocussion? Does the LPCA actually have the money/power/political weight to sue with any teeth?

Not really. Just two annoying women who spend all their time and energy going aftwer every Broadway proposal.

[Majin]

Not really. Just two annoying women who spend all their time and energy going aftwer every Broadway proposal.

Thats great to hear. This means they are virtually a non-factor concerning this project's schedule?

[Majin]

This is a page from the Colliers International Downtown Sacramento Overview
August 2007 Report Summary. I would say this is the most detailed and current
report available regarding Downtown/Midtown.


innov you seem to be in the know about projects.... what is the deal with capitol grand tower? Is this just a project the developer takes out of a drawer for a day or two, parade around for the news papers with pretty renderings, then put it back in the drawer for another year? Hell, that sounds like something even I could do.

[innov8]

It's back in the drawer for now. I think the last time I inquired
about the project was when this report came out. At the time the traffic study
for the draft EIR was complete but the rest of the EIR was still in process.
Then about a month later I learned the applicant was required to pay
additional fees for the environmental document preparation before it
could move forward... and that was the last I heard or looked into it.

With the mess Mo has on K Street and his track record of not actually
building anything as a developer, I don't have high hopes now. But if he wins
a bunch of money over his property on K Street he might actually use that
money to build this tower in the year 2015, but that's probably not likely either.

[econgrad]

No, I want Sac to resemble Tokyo.

I lived near Shinjuku station for a month. Too crowded for me! Can we find a balance between Tokyo and something like...Vancouver? A little more space and a little less crowds? ;)

You have my vote either way!
:cheers:

[sugit]

Probably the sexiest project to hit the central city hoods this past year,
1901 Broadway, will go before the Planning Commission (http://www.cityofsacramento.org/dsd/meetings/commissions/planning/2007/CPC-11-08-2007-Agenda.cfm) tomorrow evening.
As with everything else, the LPCA (http://www.landpark.org/) is opposing this project... so if you're a
well spoken individual who cares to see quality projects breathe new life into
the Broadway Corridor / Tower District, feel free to stop by and let the City
know how much you love it... and you know you do.

Millennium Real Estate Service's Website (http://www.mresnnn.com/) (for more info and renderings)

http://www.sacfrg.org/images/1901-night.jpg


Hey TD - The East End Gateway is supposed to be approved for a parking wavier at the same meeting...if you are there and hear, let us know if its approved.

If it's approved, I think CADA has already approved the design and the subsidy, so we should see it break ground around spring time.

[Majin]

I lived near Shinjuku station for a month. Too crowded for me! Can we find a balance between Tokyo and something like...Vancouver? A little more space and a little less crowds? ;)

You have my vote either way!
:cheers:

Nope, going for full Tokyo, crowds and all.

[creamcityleo79]

Nope, going for full Tokyo, crowds and all.
get 28 million more people to move to the Sacramento area and then start talking about this!

[Majin]

get 28 million more people to move to the Sacramento area and then start talking about this!

Tokyo didn't spontaneously get 28 million population, the city was litterally built from the ground up.

Thats what I plan to do here slowly but surely.

[kryptos]

Tokyo didn't spontaneously get 28 million population, the city was litterally built from the ground up.

Thats what I plan to do here slowly but surely.

and hows that? becoming mayor does not make you king....you have no power over who gets elected to city council