It’s hard to believe how much has not changed at the former Towers site… it's been six years today since the job to construct two 53-story residential towers at Third Street and Capitol Mall was halted. Even if the two 600-foot towers estimated to cost $750 million project had been built, with the regions record home foreclosure rate over the last 4 years, today I imagine it would sit more than half empty like the L Street Lofts which only sold 22 of the 92-units. My contact at CalPERS says there are no plans to develop the site in the near future. Just think, if 17 more condominiums would have sold to reach the bank requirement of 400 units, money from CalPERS and Deutsche Bank would ha
With just a few more bricks to lay, “Seventh & H” looks pretty sharp for an affordable housing project. The eight-story, $47.4 million, 150-unit building by Mercy Housing is the first new structure going up in the railyards redevelopment project area. The project expected to be compleated in the Fall of this year. This project below at 626 I Steet will consist of 108 units for occupancy by extremely low income elderly persons in September 2012. This rehabilitation project project cost $19.4 million and was funded by grants to modernize the vacate building. Most of the funding came from the Federal Government, as part of the American Recovery and Reinvestment Act of 2009 (ARRA). See before
Wells Fargo Center 20th Anniversary Today is the 20th anniversary of the Grand Opening for the Wells Fargo Center on Capitol Mall. As Sacramento’s tallest building at 423 ft, it has a distinctive curved copper roof caps the building, with a cleft in its middle as a postmodern architectural style. Inside the building there is a five-story clear glass atrium with granite and marble walls with a Wells Fargo history museum is located in the lobby and Il Fornaio Restaurant. The architect Hellmuth, Obata and Kassenbaum (HOK) designed the tower which also won the BOMA Building of the Year Award for 1994. This 502,000 sf. building occupies an entire 2.3 acre city block with a masonry & granite
“Seventh & H" SRO - 7th & H Street, $47.4 million project. Expected completion date, Spring 2013 626 I Street Rehabilitation Project - $19.4 million. Expected completion date, Sept. 2012 La Valentina Station - 12th Street between D and E streets, $27 million project. Expected completion date, summer 2012. Sutter Medical Center - L & 29th Street, $600 million project. Expected completion date, late 2012. Read more at: http://livinginurbansac.blogspot.com/
Sutter Medical Center L & 29th Street, $600 million project. Expected completion date, late 2012. La Valentina Station 12th Street between D and E streets. $27 million project. Expected completion date, summer 2012. Maydestone Apartments Corner of J & 15th Street. $7.2 million renovation. Expected completion date, February 1, 2012. “Seventh & H" SRO 7th & H Street. $47.4 million project. Expected completion date, Spring 2013. DMV Headquarters Upgrade 2415 1st Avenue $127 million renovation, 13-year renovation so far. Expected completion date, who knows??? 626 I Street Rehabilitation Project $19.4 million. Expected completion date, Sept. 2012
The proposed Docks project nested between Interstate 5 and the Sacramento River, will be heard by the City Planning Commission on the 8th for a motion to pass the rezoning for future urban development consistent with the 2030 General Plan. City Staff will also recommend that Option B to be chosen in how the 29 acres are developed which including 1,000 residential units, 200,000 square feet of office space, and 43,300 square feet of retail space. A formal recommendation for Option B will be made the City Planning Commission next month and then the City Council for approval in December. Option B was determined to be the most cost effective plan to retain Pioneer Reservoir and build the park
Last night the Sacramento City Council discussed the future of the proposed 23 story hotel and parking garage at 8th & K/L St. by developer Bob Leach/USA Hospitality. The last time Mr. Leach was to appear before the Council two weeks ago he asked for a delay because his proposal was going to be slammed over the financing for the proposal. This time they came back to the council offering 40% of cash flow instead of 10% over 10 years and asking for 50% of the Transient Occupancy Tax rebate over 14 years instead of 100% over 10 years. USA Hospitality’s now asking for $31.5 million subsidy from the city in an effort to make this project feasible. After a few council members made their opinions
Back in 1989 twenty years ago, Sacramento completed a landmark structure that engulfed many of the nondescript low-rises strung around downtown and became the first high-rise to reach past the 20th floor becoming the cities tallest. Many locals like to refer to the building as “Darth Vader” because of its menacing shape and dark color. This tinted-glass high-rise was originally proposed at 25 floors but was amended to be 28 floors, which put the tower 160 feet above the Capitol dome. With much applause and hope, city leaders at the time expected the Renaissance Tower to represent a rebirth of downtown and K Street. At 372ft tall, this was the cities tallest building constructed during the
These are some photos I took last week when the skies were clear with 100 miles of visibility. It’s really stimulating to see the Sierra Mountains rise up behind the city creating a backdrop to the skyline.
Last Friday I was invited to go up into 500 Capitol Mall (The Bank of the West Tower) and get a few photos of the 4-story lobby off Capitol Mall and the shared 25th and Penthouse windows at the top floors. The building is currently experimenting with interior lighting in the lobby and soon the pinnacle at the top of the tower. By mid-March exterior lighting facing Capitol Mall will be turned really making the building stand out. I have attached 12 photos to view.