The approval of the redevelopment project for the 700 block of K Street brings more than just the prospect of a revitalized block of the J-K-L corridor, it also includes financial incentives that supporters say will spur the local economy and bolster revenues for the city. Originally, developers Bay Miry, D & S Development, and Ali Youssefi, CFY Development, proposed that the city put in $16 million of funding assistance – one half of that amount in the form of a grant, and the other half in repayable loans from a variety of redevelopment agency sources. Since the initial proposal, however, Miry and Youssefi were able to tap into new funding sources for the project, including a federal p

With the approval of the 700 block project on K street, developers Bay Miry and Ali Youssefi are closer to realizing their long-awaited vision. But that vision has changed in some unexpected ways since its initial proposal. First, that vision “got a lot bigger,” Miry said. When Miry and Youssefi were awarded the project in July 2010, they didn’t have access to the interior of the buildings at the project site. “The initial proposal was very conceptual in nature,” Youssefi said. “We knew that if our team was selected we'd have the opportunity (later) to refine the project design based on a thorough inspection of all the buildings.” Once they were handed keys in late August, they had a

The proposal for redevelopment of the 700 block of K Street received the nod of approval from City Council Tuesday night, opening the way for developers to move forward with the $47.7 million project. With close to 64,000 square feet of retail space and more than 130 housing units, the project is designed to revitalize a long-ignored section of K Street with a diverse tenant mix of restaurants, boutique shops and a live music venue. If all goes as planned, developers expect to begin construction in late January or early February of next year. With their unanimous vote, council members approved the environmental impact and planning commission reports, and formalized a Developer Dispositi

Dads teach their kids all kinds of things – sometimes even skills that allow them to build shopping centers and redevelop historic properties as big as Globe Mills and Sacramento’s K Street Mall. When kids go into the family business, a father's ability to impart lessons gets taken to a whole new level. Sons who've followed their dads into development in three families say there are pros and cons to doing so – with the biggest benefits being the valuable instruction they've gotten from their fathers. Ali Youssefi was doing investment banking in San Francisco when he decided to return to Sacramento to join his father, Cyrus Youssefi, at his community development firm, CFY Development, In

Redevelopment projects for the 700 and 800 blocks of K Street cleared a final hurdle on their way to the Sacramento City Council when the city's Preservation Commission approved both Thursday night. The commission called a special meeting to consider the final major design components after both projects were approved by the Planning Commission last week. A City Council vote of approval, which will be set for sometime in June, would mean groundbreaking could finally begin on two key blocks of K Street Mall that have long been eyesores. The projects will add 337 mixed-income apartments in the downtown core, rehab the landmark Bel-Vue Apartments and restore all but one of the building façad

Tuli Bistro owners Adam Pechal and Ulrike “Ulli” Lesk Petersen previewed the space and menu of their second restaurant, RESTAURANT THIR13EN, on Friday. The restaurant is located on the bottom floor of the Sterling Hotel at 1300 H St., where the restaurant Chanterelle was until it closed last January. All evening invited guests were provided teasers of THIR13EN’s menu, which included oyster shooters, sous vide quail wings, seared scallops, Kurabuta pork belly and seared sirloin with potato puree. Each guest was also provided a drink ticket to sample offerings from their full bar, such as wine from Berryessa Gap Vineyards, international beer taps and a number of signature cocktails. Peters

Apartments in the Maydestone building downtown are starting to look more like homes as work progresses in the historic building’s restoration. “It’s a very urban project, it’s a very prime location,” said Bay Miry of D&S Development. “There’s been a lot of people already inquiring about it.” Renovation work on the century-old building at 15th and J streets started in September. “Our whole goal was to do it in 10 months, and we’re still on that path,” Miry said. “We expect to have tenants in here by early summer.” A previous article showed the progress made up to Nov. 17, and workers have made significant strides since then. Miry added that the project has received funding from the Sac

The Sacramento Planning Commission on Thursday applauded a development team's plan for the 700 block of K Street. D & S Development, Inc., and CFY Development Inc. – led by David Miry and his son, Bay Miry, and Cyrus Youssefi and his son, Ali Youssefi – propose a mix of adaptive reuse and new construction for the south side of the block. Since it was introduced, the plan has grown to incorporate Sacramento's historic underground and plenty of outdoor living space, while keeping its residential component smaller and less expensive. The project would also restore historic building façades to help preserve the legacy of K Street, which was once the thriving heart of the city. The plan call

A redevelopment project being considered by the city could help cement K Street Mall's future as an entertainment district. The proposal that went before the city's Preservation Commission Wednesday night would build a live music club with a roof terrace in the historic Banking Hall building at 700 K St., anchoring a key block across from Westfield Downtown Plaza and St. Rose of Lima Park. The plan by D & S Development, Inc., and CFY Development Inc. – led by David Miry and his son, Bay Miry, and Cyrus Youssefi and his son, Ali Youssefi – also proposes four restaurants with bars for the south side of the block, along with 153 new apartments and a nearly 29,000-square-foot, two-level park

Right on. Tuesday night's vote for the more balanced proposal for K Street redevelopment was very good news, and not just for those of us who supported the winning team. Our city moved decisively forward tonight, and congratulations are due to all who participated in the process, from city staff to city council, from members of the community who spoke at Tuesday's meeting to those who have participated in the many Conversations on the subject on The Sacramento Press. The Conversations here about the K Street process have been wonderfully civil, constructive, and deeply informative. The community cared about this issue, and engaged with each other on it. There was a sense that, no matter

At street level, the news at 14th and R Streets in the Grid is a whole row of new dining establishments: The Shady Lady bar and restaurant on the corner, Magpie Catering, Top This yogurt shop and Burgers and Brew. And there's a fifth establishment that doesn't serve food: hair styling diva Marci Landgraf's return to the salon business, yet to be named. (See Colleen Belcher’s Sacramento Press story tomorrow on the downstairs restaurants, which either have opened or will open in the next week.) But there's another story on the second story: 12 lofts being sold by D&S Development, now on their third group of lofts in the Grid. Bay Miry of D&S (son of David Miry, the D in D&S, the S being Ste