I lived in Capital Towers many years ago, and treasured the park feeling of the superblock site, but this new plan, as reported by the Sacramento Bee, to add more housing there, is really a good idea, but only if it is market rate housing.
Sacramento planning commissioners got their first look Thursday at a controversial plan to tear down 206 low-rise garden apartments and replace them with high-rise and midrise residential towers on a leafy superblock in the central city.
Beverly Hills real estate investment firm Kennedy Wilson filed the plan for the project, called Sacramento Commons. It proposes building more than 1,000 new dwelling units on four traffic-free, tree-lined blocks bounded by Fifth, Seventh, N and P streets. Kennedy Wilson bought the 10-acre site in 2012 for $64 million, according to a news release at the time.
The firm plans to keep its existing 203-unit high-rise apartment building called Capitol Towers but demolish the Capitol Villa garden apartments and cut down numerous trees – both of which neighbors say are a big part of the area’s charm and livability.
In their place, Kennedy Wilson would erect two 24-story residential towers, a 22-story hotel-condo complex and several midrise buildings.
The project addresses the need for more housing units downtown, in the middle of the region’s major job core, said Dave Eadie, with Kennedy Wilson. It would be “nestled in among other residential towers and government towers,” he said.
Retrieved July 25, 2014 from http://www.sacbee.com/2014/07/24/6581725/planning-commissioners-take-first.html