Sacramento Proposal/Approval/Construction Thread - III

[urban_encounter]

Originally Posted by ozone

I cringed at that statement. Its someone trying to say we are a big city so we deserve higher buildings. But ironically it just comes across as provincial to me. Urbanity comes in many forms. Some of the most densely populated and urbane cities are filled with mid-rises. I'll take this over another trashy-designed high-rise, like most along the mall.

I wish there was a like button but since there’s not I’ll say I agree 100%.

[CastleScott]

I seen lately a large 6-8 story wood framed building near Folsom Blvd and 65th st, anyone know what it is (looks like mixed use)?

[urban_encounter]

Originally Posted by CastleScott

I seen lately a large 6-8 story wood framed building near Folsom Blvd and 65th st, anyone know what it is (looks like mixed use)?

Student housing i believe.

[Urbanquest]

Originally Posted by CastleScott

I seen lately a large 6-8 story wood framed building near Folsom Blvd and 65th st, anyone know what it is (looks like mixed use)?

It’s crazy that they build such a big building from wood.

[creamcityleo79]

Originally Posted by Urbanquest

It’s crazy that they build such a big building from wood.

They're planning to build a 21-story wood building in Milwaukee. It'll be the tallest in the western hemisphere.

https://urbanmilwaukee.com/2018/10/0...north-america/

[SacTownAndy]

Originally Posted by CastleScott

I seen lately a large 6-8 story wood framed building near Folsom Blvd and 65th st, anyone know what it is (looks like mixed use)?

There was a pretty good run down in the Bee recently about all of the planned/approved midrise buildings that should start to be sprouting up in that area- mostly geared towards Sac State students.

[gillynova]

Man, I love Sacramento and all, especially the Kings, but I'm pretty disappointed there are no high/mid-rise development in downtown. I want the skyline to be better so when the Kings make it to the NBA finals that it would look amazing.

Maybe 3 more glass high rises and the MLS stadium to be built and I would be extremely satisfied. Oh, and definitely need more hotel space so the NBA all star game can be hosted there.

All a dream...

[CastleScott]

Man, I love Sacramento and all, especially the Kings, but I'm pretty disappointed there are no high/mid-rise development in downtown. I want the skyline to be better so when the Kings make it to the NBA finals that it would look amazing.

Maybe 3 more glass high rises and the MLS stadium to be built and I would be extremely satisfied. Oh, and definitely need more hotel space so the NBA all star game can be hosted there.

All a dream...

True but then again dreams can come around full circle to fruition-seen it happen before.

[CastleScott]

Student housing i believe.

^ Thanks urban_encounter.

They're planning to build a 21-story wood building in Milwaukee. It'll be the tallest in the western hemisphere.

^ Now that's supertall for wood! Wow!!

[enigma99a]

Originally Posted by gillynova

Man, I love Sacramento and all, especially the Kings, but I'm pretty disappointed there are no high/mid-rise development in downtown. I want the skyline to be better so when the Kings make it to the NBA finals that it would look amazing.

Maybe 3 more glass high rises and the MLS stadium to be built and I would be extremely satisfied. Oh, and definitely need more hotel space so the NBA all star game can be hosted there.

All a dream...

But we’ll have landscrapers like 601 Capitol Mall

[SacTownAndy]

Originally Posted by gillynova

Man, I love Sacramento and all, especially the Kings, but I'm pretty disappointed there are no high/mid-rise development in downtown. I want the skyline to be better so when the Kings make it to the NBA finals that it would look amazing.

Maybe 3 more glass high rises and the MLS stadium to be built and I would be extremely satisfied. Oh, and definitely need more hotel space so the NBA all star game can be hosted there.

All a dream...

There are actually quite a few mid-rises under construction right now. But nothing really over 10 stories. But the ~350 ft CA Natural Resources building is u/c construction now and should start to go vertical soon. The new ~350 ft Sacramento County courthouse is funded and should break ground this year. And if Tower 301 ever gets off the ground, there's your 3 new highrises. ;-)

[j_deguzman10]

Originally Posted by SacTownAndy

There are actually quite a few mid-rises under construction right now. But nothing really over 10 stories. But the ~350 ft CA Natural Resources building is u/c construction now and should start to go vertical soon. The new ~350 ft Sacramento County courthouse is funded and should break ground this year. And if Tower 301 ever gets off the ground, there's your 3 new highrises. ;-)

Personally what I would like to see is residential or mixed use high rises; those would actually add density to the urban core and would look really cool. Probs not gonna happen this market cycle and it's such a shame, Sacramento is like of those few cities that doesn't have a really cool residential project in the city.

[urban_encounter]

Originally Posted by j_deguzman10

Personally what I would like to see is residential or mixed use high rises; those would actually add density to the urban core and would look really cool. Probs not gonna happen this market cycle and it's such a shame, Sacramento is like of those few cities that doesn't have a really cool residential project in the city.

Yeah I agree that I think that Sacramento has once again missed the economic cycle which is frustrating since during the last downturn city leaders touted the readiness of projects once the economy turned around. Well it turned around and still we have nothing to show for it. Even our mid rise projects like Yamanee have been mired in a petty lawsuit.

But on the bright side we have more outside residential developers buying property and positioning to build projects.

Vancouver based Anthem Properties purchased the the property at J street and 11th (the former St. Anton project).

Washington State based Weidner Apartment Homes is still planning to do something at the site of Capital Towers (aka Sacramento Commons).

If one or both of these projects can prove profitable it might open the flood gate for more residential buildings. But as you noted probably not this economic cycle. The other thing hurting Sacramento is that construction costs are comparable with the Bay Area but developers can’t recoup the same prices for high rise residential units here, so developers have no incentive to build here. I’m not sure if we will ever overcome that but I’m no expert.

[snfenoc]

Work on 17 Central aiming for 2019 start
By Ben van der Meer – Staff Writer, Sacramento Business Journal
Feb 21, 2019, 2:55pm PST
https://www.bizjournals.com/sacramen..._news_headline

Construction could get underway by year’s end on midtown Sacramento’s next mid-rise building of apartments and retail.

Demolition of the existing building on the site as soon as this summer would be the first step for 17 Central, an 8 1/2-story building planned for 1631 K St.

Other Information

Developer: D&S Development
Architect: De Bartolo & Rimanic Design Studio
Contractor: Yet to be determined
Estimated cost: $35 million
Project timeline: Demo and initial site prep could begin this summer. D&S hopes to have a permit ready for construction by the end of this year. Project could be completed by the end of 2022.
Number of units: 111 apartments
Ground floor retail: 1608 square feet.

[snfenoc]

Originally Posted by urban_encounter

Yeah I agree that I think that Sacramento has once again missed the economic cycle which is frustrating since during the last downturn city leaders touted the readiness of projects once the economy turned around. Well it turned around and still we have nothing to show for it. Even our mid rise projects like Yamanee have been mired in a petty lawsuit.

But on the bright side we have more outside residential developers buying property and positioning to build projects.

Vancouver based Anthem Properties purchased the the property at J street and 11th (the former St. Anton project).

Washington State based Weidner Apartment Homes is still planning to do something at the site of Capital Towers (aka Sacramento Commons).

If one or both of these projects can prove profitable it might open the flood gate for more residential buildings. But as you noted probably not this economic cycle. The other thing hurting Sacramento is that construction costs are comparable with the Bay Area but developers can’t recoup the same prices for high rise residential units here, so developers have no incentive to build here. I’m not sure if we will ever overcome that but I’m no expert.

I think the bolded section is the main thing that is going on, here. Sacramento has a significant demand for housing development. However, that demand is mostly for low to middle income housing and not so much for high income housing. Unfortunately, construction costs are ridiculous. Materials and labor are through the roof. That means most privately-developed housing projects, especially those with higher floor counts, must be geared toward buyers and renters with lots of money. I think it's safe to say that Sacramento simply doesn't have enough rich people to justify the kinds of projects that we'd all like to see get built. Maybe as more Bay Area folks move to Sacramento, this will change.

Hopefully, developers and architects will create new construction methods that lower building costs. Certainly, the state and city can minimize the red tape which adds to construction costs. However, there is only so much they can do. If supply costs cannot be reigned in, then reforming permitting and CEQA processes will be merely academic.

[ltsmotorsport]

Spot on Steve. You hit the nail on the head

[NickB1967]

Originally Posted by Sachornet

The appeal for 601 Capitol Mall was denied, still no word on a timeline for this project moving forward.

https://www.bizjournals.com/sacramen..._news_headline

Thank goodness. Takeaway sentence from the article: "Requiring a taller project by Shorenstein Properties, said Councilman Steve Hansen, would make such a project financially unfeasible under current conditions, and could leave it undeveloped for years to come."

[sactivity]

Spent some time in Portland yesterday...

You don't wanna know

[sactivity]

I agree and I disagree... The median household income for the Sacramento metropolitan area as of 2017 is $68,000. This is pretty much the same as other metro areas like Los Angeles, Chicago, Philadelphia, Dallas, Houston. It is considerably MORE than Phoenix, Tampa, Miami, to mention a few. The problem, in my opinion, is not that no one in Sac makes enough money for the "return investment", it's the fact that we're only 90 miles from the richest goddam City on the planet. Sure, construction costs are high, but it's not stopping them from building everywhere else. Yes, they CAN make a sensible return in Sac, but they're hard-on points to the west, I'm afraid. They can make a much BIGGER return in a metropolitan area that makes over $101,000 per household per year and is only an hour or so away. There are other factors, of course. But it's not income alone. Its our big brother. He's too close.

[novatone82]

Originally Posted by sactivity

I agree and I disagree... The median household income for the Sacramento metropolitan area as of 2017 is $68,000. This is pretty much the same as other metro areas like Los Angeles, Chicago, Philadelphia, Dallas, Houston. It is considerably MORE than Phoenix, Tampa, Miami, to mention a few. The problem, in my opinion, is not that no one in Sac makes enough money for the "return investment", it's the fact that we're only 90 miles from the richest goddam City on the planet. Sure, construction costs are high, but it's not stopping them from building everywhere else. Yes, they CAN make a sensible return in Sac, but they're hard-on points to the west, I'm afraid. They can make a much BIGGER return in a metropolitan area that makes over $101,000 per household per year and is only an hour or so away. There are other factors, of course. But it's not income alone. Its our big brother. He's too close.