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  #5681  
Old Posted Jul 27, 2015, 4:55 PM
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F*ck greenfield sprawl. I want to be able to see Tahoe and SF at the same time, from my 33rd floor window.
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  #5682  
Old Posted Jul 27, 2015, 6:07 PM
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Originally Posted by Mr. Ozo View Post
Not sure it has to be an either or situation. Clearly Sacramento has room for more sprawl. Delta Shores hasn't even started, Natomas has plenty of space and cities like Elk Grove have no plans of slowing down home building.

As we've pointed out there is a demand for Urban living no matter how much more suburban style homes get built.

Houston is example of a city with a huge amount of sprawl, AND fairly intense central city development. So both are possible.
Yeah and how about Austin? Lots of countryside around there is a good high-rise buildout happening. I think our issue is that we just need one condo tower to be successful for financing to open up for others.
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  #5683  
Old Posted Jul 27, 2015, 7:04 PM
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^^^ Speaking of which, can I ask a stupid question? I'll be the first to admit that I don't know much about the logistics or finances of building highrise residential, but I've often wondered:

I travel quite a bit for work and bounce around the country farirly regularly. I always pay attention when I'm in a new city of the local development, especially in downtown areas, and given that this is my home, can't help but to compare what I see in each respective place to Sacramento. And I've always wondered, why not here?

Especially in the last 5-10 years, I've seen highrise residential go up just about everywhere. Austin, Phoenix, Denver, Tampa, Salt Lake.... and even Omaha. I was just in Omaha a few months back and noticed several shiny new residential towers on their riverfront.

So my question is, why not here? I mean, I get that California is a more expensive place to build, but if Omaha Nebraska can get riverfront highrise residential, why not Sacramento? Is it laws, regulations, demographics (I can't imagine a highrise condo in Omaha, Austin, or Salt Lake would be priced higher than a similar product here), unproven market? Or a combination of all of the above?

Anyway, thanks for humoring my ignorance. Was just curious if anyone else had any more enlightenment, because I've always wondered... if it can happen "there" (and it's happening "there"), why not here?
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  #5684  
Old Posted Jul 27, 2015, 7:30 PM
Pistola916 Pistola916 is offline
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Quote:
Originally Posted by SacTownAndy View Post
^^^ Speaking of which, can I ask a stupid question? I'll be the first to admit that I don't know much about the logistics or finances of building highrise residential, but I've often wondered:

I travel quite a bit for work and bounce around the country farirly regularly. I always pay attention when I'm in a new city of the local development, especially in downtown areas, and given that this is my home, can't help but to compare what I see in each respective place to Sacramento. And I've always wondered, why not here?

Especially in the last 5-10 years, I've seen highrise residential go up just about everywhere. Austin, Phoenix, Denver, Tampa, Salt Lake.... and even Omaha. I was just in Omaha a few months back and noticed several shiny new residential towers on their riverfront.

So my question is, why not here? I mean, I get that California is a more expensive place to build, but if Omaha Nebraska can get riverfront highrise residential, why not Sacramento? Is it laws, regulations, demographics (I can't imagine a highrise condo in Omaha, Austin, or Salt Lake would be priced higher than a similar product here), unproven market? Or a combination of all of the above?

Anyway, thanks for humoring my ignorance. Was just curious if anyone else had any more enlightenment, because I've always wondered... if it can happen "there" (and it's happening "there"), why not here?

This may be completely irrelevant but all those cities (Omaha, Denver, Tampa, Austin, Salt Lake, Phoenix) are home to several Fortune 500 companies. Omaha actually has five F500 companies compared to Sac's none. I suppose the uber rich need urban housing. The demand could be there.

Now I don't know if that plays a factor or not but it seems cities that have a strong high-rise residential market are ones where corporate headquarters exist.

Sac does have high-rise residential. The problem is it doesn't have enough.
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  #5685  
Old Posted Jul 27, 2015, 7:59 PM
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Yeah I don't really understand it either. It can't be demographics or demand. Both are there. How many developers are even attempting to get financing?
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  #5686  
Old Posted Jul 28, 2015, 3:38 AM
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I get the sense from the Business Journal that high-rise downtown residential is generally discouraged by local developers, as every article about the possibility of housing downtown is bracketed with concerns about how it's soooooo difficult to build housing downtown. I think a lot of the downtown developers consider downtown housing undesirable because they can get slightly higher rents from commercial property, and don't want to have to deal with the complexity that comes with doing residential--from plumbing and infrastructure to residents complaining about nighttime noise and other social problems that businesses that close at 5 PM can more easily ignore.

The lower cost of midrise construction seems to be driving a lot of development to that mode instead of highrise--high steel really does cost a lot more and involves a lot more complexity, and even the developers who are doing downtown housing say that the economics just don't make sense in downtown Sacramento right now.
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  #5687  
Old Posted Jul 28, 2015, 7:41 PM
BillSimmons BillSimmons is offline
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Perhaps a certain section of the local community that fights tooth and nail against any developer that tries to tear an old building down to replace it with a new one might have something to do with that?
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  #5688  
Old Posted Jul 28, 2015, 11:07 PM
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UC Davis plans $50M building on Sacramento campus for nursing school




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Five years after it launched, the Betty Irene Moore School of Nursing at UC Davis has announced plans for a $50 million building on the Sacramento campus it shares with the medical school and health system.
The school opened in 2010 with eight doctoral candidates. In September the school expects to enroll 143, with more degree programs in the works.
As the school grew, it spread to available space across three buildings. The three-story, 70,000-square-foot building will be the fourth in the educational core of the Sacramento campus of the University of California Davis. Construction is expected to start in November and be completed in the fall of 2017.
http://www.bizjournals.com/sacrament...Z&t=1438124678
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  #5689  
Old Posted Jul 28, 2015, 11:08 PM
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Empty Broadway property sold for high-end residential use


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The new owner of a vacant lot near 10th and Broadway plans a high-end residential project. It's the latest in a string of projects launched on the west end of Broadway, an emerging corridor for development.
Indie Capital of Sacramento closed escrow Monday on a 19,500-square-foot parcel of empty land near the northeast corner of Broadway and 10th St., not far from the future new location of The Kitchen.
Broker John Mudgett of Turton Commercial Real Estate said the new owner is planning a high-end residential project on the site. But details such as number of units or size are still being determined, he said.

“They’re on it, talking to the city already,” he said, adding the new owners also plan an outreach effort to neighbors about their plans. “They’re trying to push it as quickly as possible.
http://www.bizjournals.com/sacrament...Z&t=1438124675
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  #5690  
Old Posted Jul 29, 2015, 1:37 AM
ThatDarnSacramentan ThatDarnSacramentan is offline
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Are they talking about the same 10th and Broadway across from the cemetery or is there another 10th and Broadway that I don't know about?
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  #5691  
Old Posted Jul 29, 2015, 2:00 AM
Pistola916 Pistola916 is offline
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Are they talking about the same 10th and Broadway across from the cemetery or is there another 10th and Broadway that I don't know about?
Yeah, right across from the cemetery. Weird location to build market-rate residential. I'm curious to know if the planners are looking to construct something similar like the Alexan Midtown or 16 Powerhouse.
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  #5692  
Old Posted Jul 29, 2015, 2:24 AM
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Originally Posted by BillSimmons View Post
Perhaps a certain section of the local community that fights tooth and nail against any developer that tries to tear an old building down to replace it with a new one might have something to do with that?
If you think that there aren't controversies over development in every major city, you don't follow the news in other cities, because it's very much the case. And a lot of those other cities have a lot larger, better-funded organizations resisting development--ours are comparative small fry. It's nothing unique to Sacramento. Nor is such a response universal--not every project provokes such a response. Sure, if you look hard enough you're likely to find someone to dislike every project, but it isn't necessarily the same people, nor does merely disliking a project represent tooth-and-nail opposition sufficient to change a developer's mind about building things.
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  #5693  
Old Posted Jul 29, 2015, 3:34 AM
ThatDarnSacramentan ThatDarnSacramentan is offline
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Originally Posted by Pistola916 View Post
Yeah, right across from the cemetery. Weird location to build market-rate residential. I'm curious to know if the planners are looking to construct something similar like the Alexan Midtown or 16 Powerhouse.
It's just odd. I mean, they couldn't even get that apartment building at 19th and Broadway going, and that was right next to light rail, decent local dining, Tower, etc. Maybe the developers know or see something I don't, but four years of architecture and urban planning studies and ~22 years of Sacramento living, it just doesn't make any sense.
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  #5694  
Old Posted Jul 29, 2015, 6:09 PM
Mr. Ozo Mr. Ozo is offline
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The developer is Indie Cap who has built luxury housing in odd little places.

They are the ones building at W and the 27th alley right now. Couple different projects in vacant lots in alleys.

I could list more but here's a link.

There specially seems to build big houses in a less than ideal spots. So the buyer gets a new luxury house but at a cheaper price because it's on an alley or something.

They are actually building projects so I wouldn't be surprised to see some modern looking row homes built there. And they are all selling.

Quote:
Originally Posted by ThatDarnSacramentan View Post
It's just odd. I mean, they couldn't even get that apartment building at 19th and Broadway going, and that was right next to light rail, decent local dining, Tower, etc. Maybe the developers know or see something I don't, but four years of architecture and urban planning studies and ~22 years of Sacramento living, it just doesn't make any sense.

Last edited by Mr. Ozo; Jul 29, 2015 at 6:21 PM.
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  #5695  
Old Posted Aug 7, 2015, 7:02 PM
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enigma99a enigma99a is offline
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Anyone know if the Whole Foods Condos are for sale? I can't recall...

EDIT: Rental... sigh
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  #5696  
Old Posted Aug 7, 2015, 9:00 PM
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Anyone know if the Whole Foods Condos are for sale? I can't recall...

EDIT: Rental... sigh
Don't worry if any new condos are going for sale, we will be singing it from the mountain tops. So far, it's all feudal land barons sucking the surfs dry.
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  #5697  
Old Posted Aug 8, 2015, 4:10 PM
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Figure pretty much all of the new apartments are being built to condo standards, expect them to go condo about 10 years from construction after you can't sue the manufacturer for defects anymore.
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  #5698  
Old Posted Aug 8, 2015, 5:08 PM
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Figure pretty much all of the new apartments are being built to condo standards, expect them to go condo about 10 years from construction after you can't sue the manufacturer for defects anymore.
How is new ownership condos being done in orher cities?
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  #5699  
Old Posted Aug 9, 2015, 12:31 AM
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I think it may be a peculiarity of California housing law, but generally if housing prices are high enough the cost of the eventual lawsuit is baked into the selling price, as they were with the condos at 17th & L Street.
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  #5700  
Old Posted Aug 9, 2015, 3:34 AM
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A couple things...

1) The 10 year wait to condo conversion is not unique to California. It is VERY prevalent here in the Twin Cities, too.


2) If you want to see the impact of a Whole Foods-anchored 6-story residential building, have a look at this one on the edge of DT Minneapolis. I passed it today and got a picture. But, it didn't do it justice.

https://www.google.com/maps/place/Mi...7aee07!6m1!1e1
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