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  #941  
Old Posted Feb 26, 2009, 11:26 AM
econgrad econgrad is offline
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Stakeholders to meet over K Street club plans
Sacramento Business Journal - by Mark Anderson Staff writer

Long before they ever even open, plans for a series of new nightclubs downtown on the K Street Mall are causing a commotion in Sacramento.

Some of the stakeholders are meeting Thursday with Ray Tretheway, city councilman representing downtown, to calm some of the rhetoric in memos, letters and e-mails passing between downtown and midtown restaurant and club operators.

The brouhaha is about the timing of one of Sacramento’s most successful developers opening three new clubs in the worst recession current club owners have ever experienced.

There is a growing debate whether the new clubs will create more business and draw more people downtown or just cut into the pie of existing business in Sacramento.

Developer David S. Taylor and partner CIM Group have tapped San Francisco club operator George Karparty to open a dance club, high-end Dive Bar and a “rustic adult pizza lounge” in a series of buildings on K Street.

Taylor, who developed the Sheraton Grand Hotel, bought the hotel from the city last May, creating a $50 million windfall for the city, and $25 million of that was to be used for Taylor redevelopment projects downtown.

“This does stay consistent with long-term strategies of downtown,” said Michael Ault, executive director of the Downtown Sacramento Partnership.

The developers hope to have all three venues open by the end of this year. Taylor and CIM are seeking a city subsidy of $5.4 million to renovate and refurbish the shells of the buildings, which have toxic and structural problems. In addition, Taylor would spend almost that much again on the buildings and the tenant would invest about $1.7 million.

The three venues would be in a series of buildings at 1012-1022 K street. Frisky Rhythm is proposed as a 4,000-square-foot high-end nightclub targeting an above-30 crowd. Next door would be Dive Bar, a hip 3,200-square-foot bar with an aquarium in it featuring mermaids and mermen. And third, there would be Pizza Rock, a trendy 5,600-square-foot pizza joint. Another building, with 20,000 square feet, is the former Rite Aid, and there is a plan to renovate that building, but no use plan yet.

Some restaurateurs are for it, including Randy Paragary, who operates a restaurant next door to the site, along with nine other locations.

Some club owners also support it, including Bob Simpson, who operates the Cosmopolitan next door, which stands to gain business. Simpson also runs other clubs in midtown and the suburbs that might compete for business.

And there are restaurant owners in midtown and downtown opposed to the project.

“This one is going to hurt,” said Jimmy Johnson, a partner in Zocalo restaurant in midtown. “I can understand if this was something really special — some kind of attraction or destination — but this is just another restaurant and bar. We’ve got those all over the place.”

“The restaurant owners are worried. Hospitality is tight right now. The owners in midtown have got skin in the game, and they are just getting by,” said Rob Kerth, executive director of the Midtown Business Association.
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  #942  
Old Posted Feb 26, 2009, 2:59 PM
NewToCA NewToCA is offline
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While I understand the concerns of current business owners about further splitting the pie in a bad economic environment, I think their sentiments are a bit short sighted. The economy will not stay in a tailspin over the long term, and may in fact even start to recover near the end of this year.

Expanding the options and enhancing the overall area has to be a win/win proposition, even if the "new kid" initially pulls some of your business. In the longer term, the enhanced attraction of the area will expand the pie.
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  #943  
Old Posted Mar 2, 2009, 4:41 AM
Phillip Phillip is offline
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Quote:
The three venues would be in a series of buildings at 1012-1022 K street. Frisky Rhythm is proposed as a 4,000-square-foot high-end nightclub targeting an above-30 crowd. Next door would be Dive Bar, a hip 3,200-square-foot bar with an aquarium in it featuring mermaids and mermen.
Quote:
In the '60s, he went with his parents for occasional dinners to the El Mirador Hotel at 13th and N streets, long ago converted to senior housing.

Back then it was a swanky gathering spot, with a restaurant and bar whose glass wall provided a view into the hotel's swimming pool. Attractive young women were hired to swim for "visual effect" during the evenings.
Fresno had one of those "swimming mermaid" bars in the 1960's too, at the old Hacienda Hotel. Maybe every city had a swimming mermaid bar in the 1960's?

Here's a vintage postcard from Fresno's Hacienda Hotel. The caption says: "A ballet routine in the famous Mermaid Room cocktail lounge of the Fresno Hacienda. Complete back bar is a glass side in patio swim pool".

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  #944  
Old Posted Mar 10, 2009, 4:16 PM
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I'm really curious to see how the 10th and K city council item goes today. I can def see both sides of the argument. The subsidy does seem high, esp since we have seen a couple nightclub and retail rehab done with no subsidy recently (Firestone the most recent). I get that K Street is a different beast, but that amount still seems high.

In the end I'm with NewtoCA though. Any new venues to Downtown, esp K Street, will benefit all of DT and MT. I don't know if the city should pass this up. I doubt the businesses will fail, but even if they do, the shells are finally in place for tenants after all these years.

If this does pass, I hope the city makes sure the yet to be decided space is used for some sort of different entertainment venue, not another club or restaurant. Something that can drive a different crowd to K Street.

Personally, I liked the idea of Strikes Bowling that was mentioned a couple years ago. That could drive some families back to K Street. (maybe the NW corner?) Though, I think the pizza place could be family friendly. I saw the guy who would be owning the pizza place on the Food Network a few days ago, pretty bad ass pizza thrower. If nothing else, it would be entertaining to watch.

On the politics side, if I had to guess, KJ and Cohn could vote No. The two most vocal people against it in the news seem to be Mason's and Zocolo's. (KJ supporters) and it's a Taylor project (Fargo supporter). For Cohn, all the business owners are in his district.
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  #945  
Old Posted Mar 10, 2009, 5:52 PM
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It seems like an ideal spot for a medium-sized music venue, larger than the small downtown clubs but smaller than the Memorial Auditorium. There aren't many options for spaces with a capacity of a few hundred, which is a big reason why touring bands tend to pass Sacramento by. The Crest does live shows sometimes, but it is pretty big, and because it is a theater not well-suited to dancing (or moshing.) A lot of bands end up playing at the Boardwalk in Orangevale, and assume that's downtown Sacramento! Music venues can also adapt to changing times, while the whole "mermaid bar" idea seems awfully faddish.

A bowling alley is a nice idea, and I suppose more family-friendly. But it's kind of faddish too.

I got a chance to visit Mix this Saturday night, and it certainly didn't look like business was suffering. It was pretty crowded, in fact. It seems like a pretty natural path to turn a stroll from Mix or deVere's to the bars around K Street and 10th, as long as there is a suitably well-lit walking path and enough things worth walking past (as in open businesses and other pedestrians.) Enough late-night foot traffic and some of those stateworker-lunchtime spots will start opening later. Maybe the city can offer a "mea culpa" to the folks who started "Junta" on 7th & K (only to be shut down within a few months) by offering them a space to re-open an all-ages music venue in the 700 block?

Exposure to a place tends to destroy incorrect assumptions about it. People who think downtown Sacramento is all scary and ooky may have their perceptions changed after coming downtown for entertainment a few times, and have more interest in taking up residence. At that point, we'll need some of that downtown housing we've been crying for. Take some of those redevelopment funds and turn the Bel-Vue at 8th & L into stunning market-rate apartments--sounds like a job for D&S, once they get done with the Maydestone!--and build a residential tower in the hole on 8th & K. Put a Nugget Market into the front facade of the Greyhound station (with a residential tower behind the front facade, taking up the former Royal Hotel site and the Greyhound garage) so those folks don't even have to hop light rail to Safeway to get their groceries.

It all starts with a single step--although that one needs to be followed by quite a few more.
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  #946  
Old Posted Mar 10, 2009, 6:47 PM
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Yeah, a mix sized live music place built to be JUST a live music place is badly needed amongst all the DJ clubs, I think that's been beaten down on these boards.

I've been also hoping MOBS (Movies on a Big Screen) would find their way into one of these K Street projects in a multi-use venue, that last space could maybe work. Money wise though, who knows.

The city did offer up 25M to developers for housing a few months ago, but none of the proposals fit the bill. They said they would be getting out there again, but nothing yet. I'd love to see more housing, but hotels would be great as well. You figure people in hotels are here to get out and about and spend money.
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  #947  
Old Posted Mar 11, 2009, 2:22 AM
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I dont know all the details of the transaction, but the more I think about the Sheraton sale, the more it seems like a complete rip off to the tax payers.
Basically, the city owned this hotel, sold it for 100 million to Taylor, and is required to use half the money to subsidize his projects? Were there no other buyers, was Sheraton not profitable?

And now, we are considering a subsidy for $5 million to refurbish three buildings. The whole deal just screams of corruption.

Maybe not though...just thinking out loud.
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  #948  
Old Posted Mar 11, 2009, 5:25 AM
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I wonder what " A compromise was reached between the council and both proponents and opponents of the project." was?

City Council OKs K Street subsidy
Sacramento Business Journal
Tuesday, March 10, 2009, 9:53pm PDT

The Sacramento City council on Tuesday approved a subsidy for a rehab project at 1012-1022 K Street.

The subsidy is $5.4 million to pay for the core, shell and tenant improvements for a nightclub, dive bar and restaurant on land the city has owned for 10 years. The proposed developer is a partnership between David S. Taylor Interests Inc. and CIM Group and the operator would be San Francisco nightclub owner George Karpaty. Taylor has had an exclusive right to negotiate for development proposals on the site, a former Rite Aid drug store and other closed businesses, since 2005. Under the proposal, the developers are bringing $5.3 million in equity to the project.

The subsidy funds would come from proceeds of the city’s sale of the Sheraton Hotel last year to Taylor Interests. As part of that deal, the city agreed to set aside half of the proceeds, about $25.6 million, to subsidize the development of property along the city’s central corridor along J, K and L streets in deals with Taylor.

Many downtown and midtown restaurant owners were opposed to the subsidy, fearing it would take business away from their establishments. A compromise was reached between the council and both proponents and opponents of the project.
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  #949  
Old Posted Mar 11, 2009, 7:29 PM
Dakotasteve66 Dakotasteve66 is offline
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The compromise was that Taylor will not get all of the 5.4 million subsidy right now. 2.1 million that is allocated for the Rite Aid building won't be discussed until Taylor has a tenant lined up for the building. This will give midtown businesses an opportunity to weigh in on what goes into that building, obviously hoping for something that doesn't compete with midtown businesses.

I think someone mentioned Lucky Strike Bowling for that building.
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  #950  
Old Posted Mar 15, 2009, 4:12 AM
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Friday, March 13, 2009
Sacramento Business Journal
Opinion

K Street compromise
The issue: The city approved a $5.7 million subsidy for a nightclub/restaurant
on K Street despite protests / Our position: The subsidy’s new restrictions
should be enough to quell the controversy without killing the project

And a controversial development on K Street is proof.

A complicated accord, reached during last-minute negotiations, will allow developer David Taylor and the CIM Group to contract with an out-of-town nightclub and restaurant owner to open a bar, gourmet pizza eatery and nightclub. Construction is scheduled to start by the end of April, and the so-called dive bar — featuring mermaids and mermen — and other entertainment-oriented spots could open by the end of the year.

It’s a long-overdue and much-appreciated development for K Street, which has battled eminent domain lawsuits, failed shops and a look-over-your-shoulder feeling. Sure, an arts center, museum or major retailer is a better use of the building, but an entertainment outlet is a huge step forward.

Any development is better than a block of decaying and neglected structures.

The late-in-the-game agreement turned controversy into compromise and is evidence of a let’s-get-it-done attitude under Mayor Kevin Johnson and a revived City Council.

There was anger, debate and, in the end, a resolution. Truly, a great example of the process at work.

Certainly, closed-door meetings created the deal, but it was a public dispute from the beginning, culminating with full-page newspaper ads and media coverage during the final week.

The Sacramento City Council approved the $5.7 million “altered” subsidy for the development, ending a few hours of public comment and dozens of speakers about the project.

Under the agreement, San Francisco nightclub owner George Karpaty cannot combine the business spaces to create a huge nightclub without Council approval, and $2.1 million in funding will be delayed until a tenant is found for the fourth space. A more-than-acceptable agreement, for both sides.

The controversial funding comes from $25.6 million generated from the sale of the Sheraton Grand, another high-profile and much-needed project Taylor powered. Those dollars could be used only for downtown redevelopment, and the bar-pizzeria-nightclub fits the bill. Karpaty and Taylor will combine to invest $5 million in the project.

However, many midtown business owners challenged the city subsidy, saying the entertainment venues would hurt their own struggling operations. It’s an acceptable argument, especially with the dismal economy and fast-declining consumer spending.

But K Street needs development. Now, with the agreement, the on-again-off-again renovation of the often-overlooked street can resume and get “off its knees and back on its feet,” in the words of City Councilman Ray Tretheway. The agreement between the city, the developers and midtown business owners will also help the city stand a bit straighter in the eyes of the community.

http://sacramento.bizjournals.com/sa...ditorial1.html
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  #951  
Old Posted Apr 8, 2009, 11:35 PM
chan011 chan011 is offline
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does anyone have any foot traffic numbers for K St or know where i might be able to find that type of data?

thanks
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  #952  
Old Posted Apr 16, 2009, 4:36 AM
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Tuesday, April 14, 2009
Z Gallerie files Chapter 11 bankruptcy

Sacramento Business Journal - by Kelly Johnson Staff writer

Z Gallerie, the Southern California home furnishings chain whose owner has long planned to participate in a downtown Sacramento redevelopment project, has filed for Chapter 11 bankruptcy reorganization.

The Gardena-based retailer filed Friday in the U.S. Bankruptcy Court for the Central District of California in Los Angeles.

It has stores locally at Westfield Downtown Plaza in Sacramento and at The Fountains lifestyle center in Roseville.

Z Gallerie “filed to reorganize voluntarily under Chapter 11 in order to remove the liability from 22 leases associated with closed stores and an Atlanta distribution center and to strengthen its balance sheet,” the company said in a news release.

Z Gallerie closed 21 stores, mostly in March, and has not announced any more store closings, a company spokesman said in an interview Tuesday.

Z Gallerie stores will be remain open without interruption. The retailer, in the release, said it “has sufficient cash to operate all aspects of its business, including custom furniture orders through its stores and Web site, and is seeking court approval to do so.”

The filing allows Z Gallerie to “eliminate certain lease liabilities from discontinued stores, and to continue to operate and serve our customers well,” Mike Zeiden, chief financial officer and co-founder, said in the news release.

The retailer is seeking court permission to pay pre-filing wages and benefits, honor existing customer programs and deposits and maintain its cash management system.

“Vendors who do business with the company going forward will be paid on an administrative priority basis for all goods and services the company receives after today,” the company said in the release on Friday. “The law prohibits payment for goods and services received before today’s filing.”

Z Gallerie began closing 21 stores nationwide on Feb. 18. Those stores were either poor performers or in markets that the retailer wanted to pull out of, the release said. The company also made arrangements to close its Atlanta distribution center. Now Z Gallerie is supplying merchandise from its central distribution center facility in Gardena.

Founded in 1979, the retailer now has 56 retail locations in 18 states and one outlet at headquarters in Gardena. It employs nearly 900 people.

Turnaround manager Broadway Advisors LLC is advising Z Gallerie. Its bankruptcy counsel is Pachulski Stang Ziehl & Jones LLP.

A spokesman said Joe Zeiden still intends to work with the city of Sacramento on redeveloping the 700 block of K Street.

http://sacramento.bizjournals.com/sa...3/daily27.html
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  #953  
Old Posted Apr 16, 2009, 6:32 PM
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I don't think will see Z Gallerie at that K Street location anytime soon
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  #954  
Old Posted Apr 21, 2009, 12:54 AM
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Westfield just can't win. In Sacramento Westfield gets flak for letting Downtown Plaza languish. At their Century City Mall in LA Westfield's getting shot down for trying to renovate and expand.

Quote:
Westfield's Century City project faces challenge

by Martha Groves, Los Angeles Times
March 24, 2009

Westfield's ambitious proposal to enlarge its Century City shopping center and build a 39-story tower with 262 apartments or condos is facing a challenge from a coalition of homeowners.

The appeal of the Los Angeles Planning Commission's approval of the $800-million project was set to be heard Tuesday at a hearing of the Planning and Land Use Management committee. But the city has postponed the hearing to an as-yet-unspecified date.

The project "puts too much of a strain on our infrastructure," said Mike Eveloff, one of the challengers. Meanwhile, Eveloff said, funds paid by Westfield and other developers to help schools affected by their projects "end up going into the maw that is LAUSD," rather than easing the effects at specific schools.

Also postponed was consideration of a challenge to the so-called La Brea-Willoughby project, a seven-story, mixed-use project that a neighborhood coalition says will bring too much traffic and density.
http://latimesblogs.latimes.com/lano...elds-cent.html
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  #955  
Old Posted Apr 21, 2009, 2:05 AM
econgrad econgrad is offline
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^ I wish they would build that here, and Sacramento approve it.
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  #956  
Old Posted Apr 23, 2009, 11:26 PM
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Renderings of the 10th and K Entertainment Project.



With a 45% ground floor vacancy rate, K Street’s health is currently
struggling. These spaces have been vacant more than eight years and have
seen several projects – all proposed with subsidies - come and go. Currently
David Taylor Interests (DSTI) and the CIM Group (CIM) have proposed the
following K Street Entertainment Project:

• 1016 K Street: This 3,000 sq ft parcel will feature Dive Bar, a trendy play
on a vintage dive bar. Dive Bar will feature an iPod jukebox with a selection
of many musical genres.

• 1020 K Street: This 5,600 sq ft parcel will feature Pizza Rock, a high-end
pizza restaurant. The restaurant will feature pizza acrobatics and trained
pizza artisans.

• 1022 K Street: This 4,300 sq ft parcel will feature Frisky Rhythm, an
upscale nightclub targeted to an audience ages 30 and up.

• 1012 K Street: This 12,000 sq ft parcel will undergo building shell and core
renovations. No tenant has been identified yet.



Financing: The total budget for this project is $11.8 million including tenant
and developer investment as well as proposed public investment.*

Investment in 1016, 1020, 1022 K Street
Public Investment $3.4 million
Private Developer $3.4 million
Tenant $1.7 million
TOTAL $8.5 million

Est. investment in 1012 K Street
Public Investment $2.0 million
Private Developer $0.24 million
Tenant $1.1 million
TOTAL $3.3 million

Total Public Investment $5.4 million
Total Private Developer $3.6 million
Total Tenant $2.8 million
TOTAL $11.8 million

* The public investment is derived from proceeds of the Sheraton sale in 200.
Under the sale terms, half of the transaction proceeds would be available for
DSTI/CIM projects in the JKL Corridor with City Council approval.

Major upgrades will need to be made to make the parcels market ready.
Hazardous waste issues, seismic retrofit and utility upgrades, and antiquated
infrastructure are just a few of the significant costs present in most
K Street projects. Additionally, the tenants will be paying market rate rent
and thus not undercutting existing businesses by offering subsidized
mortgage rates. Tentative target delivery date is late 2009.
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  #957  
Old Posted Apr 24, 2009, 4:30 PM
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Underwhelming at best.
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  #958  
Old Posted Apr 24, 2009, 5:00 PM
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Oh yeah empty storefronts are soooo much better. I'm on the K Street mall at least 3 times a week and I know the area well. I live and have a business in Midtown. My opinion and the opinions of people like me does count more than the opinions of a bunch of do-nothing whining suburban hick jerkoffs. Like Pane and his merry band losers who suffer from Sacramentopoopooitis. Tiffanys in Roseville= Lipstick on a pig.
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  #959  
Old Posted Apr 24, 2009, 9:27 PM
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Well, the "it's better than nothing" mindset has provided Sacramento with nothing but mediocrity. I, for one, would like to see that change and am ready for the top tier city we have been talking about. I would assume if you are on K Street as much as you are then you would agree.
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  #960  
Old Posted Apr 25, 2009, 1:25 AM
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Quote:
Originally Posted by ozone View Post
Oh yeah empty storefronts are soooo much better. I'm on the K Street mall at least 3 times a week and I know the area well. I live and have a business in Midtown. My opinion and the opinions of people like me does count more than the opinions of a bunch of do-nothing whining suburban hick jerkoffs. Like Pane and his merry band losers who suffer from Sacramentopoopooitis. Tiffanys in Roseville= Lipstick on a pig.
If more Midtown people like yourself got involved in the process then it would
not matter what other people from outside the area thought because your
opinions would drown out those other people from the burbs. But that's not the case;
you and a few others are all talk and no action. What were the last
five things you did ozone to improve the area other than bitch about it at a coffee
shop about what others are doing? The tone of your post sounds like your
having some sort of withdraw in your life (nicotine) or other stress.
I remember one time you admitted having some serious cigarette withdraws.

I agree Cynikal, mediocrity has been the standard line in this town for a long
time now... we all loose when we settle for second rate projects.
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