Capitol Grand (in-color)
These are photos of the renderings that were given to me on 11 x 17 sheets
of paper. I wanted to scan them but they are just to big.
Anyway, like I have said before, the NEW Capitol Grand rendering that is
nearly finished with the EIR process is 965' to the top of the spire. To the
top of the structure is 771' and the spire on top rises up 194' to the final
height of 965'. To meet parking requirements with the city the tower has
7 of above ground parking and 6 below. The below grade parking would go
down 75' and have slurry walls of 3 feet thick surrounding the hole.
My only real complaint at this point is the look of the base at the street
level. It has a bunker quality about it... could use a little work.
The Tower would use 5 different types of stone, 2 different types of glass,
2 different types of metal and 3 different types of concrete. I think that
pretty impressive for a tower of this size.
The big question... will it be built???
Capitol Grand Tower
Developers: Mo Mohanna and California Medical Group
Architect: Nadel Architects Inc
Contractor: Tishman Construction
12th and J Street
200 Hotel Rooms
50,000 Office Space
Downtown skyline may grow higher yet
J Street tower plan expands to 54 stories (now 56)
A proposed high-rise condominium building may become a much-larger -- and pricier -- 54-story tower after gaining a major partner.
Prominent downtown businessmen Mohammed "Mo" Mohanna and John Lambeth, in partnership with the California Medical Association, are planning a $250 million high-rise project on the northeast corner of 12th and J streets. Lambeth and Mohanna had earlier planned a 32-story, $65 million tower before the medical association joined the project.
The Capitol Grand Tower would include about 280 condominiums, 200 hotel rooms and 50,000 square feet of offices.
"We believe strongly in the future of luxury, high-rise condominium living in downtown Sacramento and are anxious to provide a quality product for that market," Lambeth said.
The medical association is committed to making downtown a viable place for people to work and play, said spokeswoman Karen Nikos.
Mohanna and Lambeth would contribute Mohanna's Grand Ballroom building at 1215 J St. to the venture, while the association would chip in its headquarters building next door, Lambeth said.
Both buildings would be razed to make way for the high-rise.
It is not yet clear what financial arrangements were made between the medical association and the developers.
The new structure would rival the twin, 54-story towers John Saca is building on Capitol Mall at 3rd Street. Saca's project would include 804 condos.
Nearby, developer Craig Nassi is building "Aura," a 38-story, 265-condo high-rise at 6th Street and Capitol Mall.
Capitol Grand Tower would contain about 1 million square feet -- about the size of a regional shopping mall. The state medical association would move into the new office space.
The plan is far more ambitious than the tower that Mohanna and Lambeth proposed on their own in 2004. Their concept, using just the ballroom building, also would have had 200 hotel rooms and about 100 condos, although the numbers changed as the plan proceeded.
The partners have not submitted a formal application for the most recent -- and larger -- version to the city. But they have given city planners a heads-up and will submit a new plan, said city planner Evan Compton.
Mohanna said Capitol Grand Tower condos would likely sell for prices similar to those being built by Saca and Nassi on Capitol Mall. Those projects are selling units from about $450,000 to $1 million, depending on location.
The Capitol Grand Tower partnership has hired Nadel Architects Inc. in Los Angeles to design the structure. Tishman Construction of New York City is tagged as the construction manager.
The partners will probably hire a veteran high-rise developer to oversee the project.
Negotiations are under way with two candidates, Mohanna said.
He added there would be eight levels of parking, including five stories underground. Mohanna said there would be little retail in the building.
The Capitol Grand Tower probably won't be completed until after the first Saca and Nassi projects are finished, so it would not compete with them.
Saca, Nassi and others are planning at least four more condo towers that could be competitors.
But there could be a market for all of them, because Sacramento is evolving into a "mature urban environment," that includes high-rise condo projects, said Dave MacIntosh, regional director for Hanley Wood Market Intelligence.
Sacramento, he said, is catching up to Portland, Miami, Cleveland, Vancouver, British Columbia, and other urban cores that have seen many high-rise projects in the past few decades.
The high-rise condo trend results from a combination of forces, including long commutes from the suburbs, less land (which encourages building upward), and the belief by some homebuyers that downtown living can be rewarding.
While there will likely be a long-term demand for high-rise condos, sales could suffer if too many hit the market at once, or if the prices are too high, cautioned Greg Paquin, owner of The Gregory Group in Folsom.
Mohanna has been a downtown landlord for three decades. He is also a partner with Saca in the planned redevelopment of the south side of the 800 block of K Street. Saca is planning two towers with a combined 600 units on that site.