Sacramento: 301 Capitol Mall: A New Plan for The Towers Site - Page 101

downtownserg89 · #**2001** Posted **Apr 19, 2007, 12:09 AM**

Quote:

Originally Posted by mechanico

"Back to the pile"

oh my god. that sucks! all his hard work only to get shut down. i feel like giving mike a big hug. and then some chocolate covered cookies. and then another hug!

urban_encounter · #**2002** Posted **Apr 19, 2007, 12:14 AM**

Quote:

Originally Posted by mechanico

That is like reducing the number of seats on a bus so its always filled to capacity.

Deutche Bank would surely drop Saca if he tried something like that.

I don't think DB cares how he sells them, so long as he hits the 50% threshold..

arod74 · #**2003** Posted **Apr 19, 2007, 12:19 AM**

Quote:

Originally Posted by foxmtbr

An interseting concept, reducing the number of units. I wonder whether he might have something like that up his sleeve...?

A Bee article when Calpers news official broke seem to suggest that the hotel aspect could expand thus decreasing the number of total condo units

"Saca said he is reevaluating The Towers to see whether it makes sense to change certain components to make the project more appealing to lenders and investors.

The Intercontinental Hotel, now slated to contain 227 rooms, could be expanded, he suggested."

M II A II R II K · #**2004** Posted **Apr 19, 2007, 12:20 AM**

Quote:

Originally Posted by downtownserg89

oh my god. that sucks! all his hard work only to get shut down. i feel like giving mike a big hug. and then some chocolate covered cookies. and then another hug!

It's on the first page of this thread now at the top of the post, what was on the first page before is now at the bottom.

downtownserg89 · #**2005** Posted **Apr 19, 2007, 12:36 AM**

Quote:

Originally Posted by M II A II R II K

It's on the first page of this thread now at the top of the post, what was on the first page before is now at the bottom.

sweet! way to go, M II A II R II K. i'm sure that will make him feel better.

downtownserg89 · #**2006** Posted **Apr 19, 2007, 12:38 AM**

well i gotta go get dressed for the 6pm gathering at 11th & K. you should all go so i could meet you guys!

innov8 · #**2007** Posted **Apr 19, 2007, 12:41 AM**

Thanks MARK

Quote:

Originally Posted by downtownserg89

oh my god. that sucks! all his hard work only to get shut down. i feel like giving mike a big hug. and then some chocolate covered cookies. and then another hug!

Thanks Serg for your concern. Actually, I did most of the work long ago
when this thread was first started. The first page looked much like it
doe's now... except for what's happen in the last few month. It's cool

Sacto · #**2008** Posted **Apr 19, 2007, 2:42 AM**

This thread has been around for more than a year...so if now we use 'em till 10,000 posts then that means we'll have 5 year old threads.

downtownserg89 · #**2009** Posted **Apr 19, 2007, 3:35 AM**

Quote:

Originally Posted by innov8

Thanks Serg for your concern. Actually, I did most of the work long ago
when this thread was first started. The first page looked much like it
doe's now... except for what's happen in the last few month. It's cool

no prob innov8y. i was bummed when i saw the thread was locked. well i'm glad everything was worked out.

snufalufugus · #**2010** Posted **Apr 20, 2007, 5:16 AM**

While trolling through the internet, I came across this picture of Des Moines, IA and got me thinking about how the towers will stand out in relation to the Wells Fargo Building. The tall tower in the pic is 801 Grand which is 630ft and the second tallest building you see is about 460ft. (You can chop off about 20-30 feet from that second building but it's not going to make a big difference from that vantage point)

By the way, for a city that just 200,000 and it's MSA being 530,000 it's probably the most impressive skyline i've seen for a city it's size.

enigma99a · #**2011** Posted **Apr 21, 2007, 1:22 AM**

KCRA interviewed Saca tonight and Saca said that he expects construction crews to be back on site within 30 to 60 days. He said if he must, he will reduce a few floors to cut costs. I guess it all matters on how many renew!

Sacto · #**2012** Posted **Apr 21, 2007, 1:47 AM**

Quote:

Originally Posted by enigma99a

He said if he must, he will reduce a few floors to cut costs. I guess it all matters on how many renew!

How much is "a few"? It would be really sad to see this great project scaled down...

Phillip · #**2013** Posted **Apr 21, 2007, 2:29 AM**

Quote:

Originally Posted by enigma99a

KCRA interviewed Saca tonight and Saca said that he expects construction crews to be back on site within 30 to 60 days. He said if he must, he will reduce a few floors to cut costs. I guess it all matters on how many renew!

I saw it. That's the first time I've heard Saca say he'd be willing to reduce by a few floors. He didn't define "a few".

Trojan · #**2014** Posted **Apr 21, 2007, 2:30 AM**

Probably 4 floors so that the Towers are at least 50 stories.

joninsac · #**2015** Posted **Apr 21, 2007, 2:47 AM**

Here's what Saca said about possible changes in the recent Bee article -

"The Intercontinental Hotel, now slated to contain 227 rooms, could be expanded, he suggested."

"We're not going to make any drastic changes like making it 40 stories rather than 50," he said.

TowerDistrict · #**2016** Posted **Apr 21, 2007, 3:02 AM**

Quote:

Originally Posted by joninsac

"The Intercontinental Hotel, now slated to contain 227 rooms, could be expanded, he suggested."

considering the InterContinental has a promise for $11 million already, i don't see why not. plus saca really stuck his neck out for the hotel company, so they should back up the development too.

i couldn't care less if the project is 50 stories instead of 53 or 54 - but maybe it poses a problem to those who already bought in on the floor that would be cut? i think the better idea would be to make larger units out of those unsold. that way they'd skirt the issue of large scale changes and affecting the committed buyers.

we'll see...

Brotha_Lynch · #**2017** Posted **Apr 21, 2007, 3:24 AM**

I had some friends say they'd like it more if that fool cut like 8 floors off 1 tower, than 4 each

i was like

urban_encounter · #**2018** Posted **Apr 21, 2007, 3:39 AM**

Quote:

Originally Posted by enigma99a

KCRA interviewed Saca tonight and Saca said that he expects construction crews to be back on site within 30 to 60 days. He said if he must, he will reduce a few floors to cut costs. I guess it all matters on how many renew!

Wasn't one of the reasons Saca wanted Cal Pers out, is because they wouldn't promise not to scale the Towers down?

Although personally I think that's were this project is today. I don't believe that Saca's going to be able to make this pencil out (as currently designed) when projected construction costs have risen 50% (from $400 to $600 million), unless he scales it back...

And to be honest i think the project may look just as attractive if they were to construct one Tower at 54 stories and scaled back the second tower to 45 or 40 floors... Something (as some of you may recall) that was suggested as an alternative by the city, during the design phase.

Saca's also faced with a deadline to find an equity partner with deep enough pockets to step in...

It will be interesting to see how many people signed their contract extensions..

innov8 · #**2019** Posted **Apr 21, 2007, 5:57 AM**

Quote:

Originally Posted by urban_encounter

Wasn't one of the reasons Saca wanted Cal Pers out, is because they wouldn't promise not to scale the Towers down?

Yep, that's how it was menioned several time when Saca would make his
pitch to the media.

Well, it now appears we won't have two of these in the city limits

urban_encounter · #**2020** Posted **Apr 21, 2007, 3:16 PM**

Quote:

Originally Posted by innov8

Well, it now appears we won't have two of these in the city limits

I hope your right Mike.

BTW that picture of "Arco Park's" foundation is enough to bring a tear to my eye....