It is endless, but perhaps the synergy from the arena and an executive mayor, will finally bring this drama to a happy conclusion.
An excerpt from the Sacramento Bee.
One of the most blighted stretches of downtown Sacramento received a long-awaited boost on Tuesday night, when the City Council approved a complex financing plan for a major development in the 700 block of K Street.
The development team behind the project said it expects to begin construction on the $51 million housing, retail and entertainment project early next year. Work could be completed by late 2016, soon after the expected completion of a new sports arena for the Sacramento Kings just one block away.
“We’ve said from the beginning that what happens in the blocks around the arena is critical so we can extend that experience for people before events and for those staying later,” said Michael Ault, executive director of the Downtown Sacramento Partnership. “Hopefully this is a sign that a lot of things around (the arena) will soon be taking place.”
Development firms D&S and CFY are planning to build 137 units of housing on the block. Leslie Fritzsche, a senior project manager with the city’s economic development department, said the project would bring “the first new residential (units) to K Street in decades.”
The historic storefronts lining K Street would be converted into a row of shops and restaurants.
Bay Miry of D&S Development said the team is “still a ways out on announcing specific concepts” for the block. He did say that the developers are “proposing market-rate housing, affordable housing, underground parking and a significant amount of retail – all in one-half block.”
Retrieved October 8, 2014 from http://www.sacbee.com/2014/10/07/6768820/sacramento-city-council-approves.html