Living the Luxe Life
From September 2005
Community Comments
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Saca’s project at 301 Capitol Mall consists of two 53-story towers that will become, at 560 feet, the tallest buildings in the region, as well as the tallest concrete structures west of the Mississippi, according to the developer.
The $300 million to $400 million project will include at least 750 condos, as well as a 250-room hotel and amenities such as a gym, spa and rooftop pool, plus retail stores and restaurants. Units will sell for anywhere from the mid-$300,000 range up to potentially $6 million for a penthouse. Homeowner association fees are also estimated to be between $500 and $700 a month. Construction begins this fall, with a scheduled opening date of fall 2007.
BCN’s Aura project, right down the street at 601 Capitol Mall, consists of a 38-story building with about 260 condos ranging from $300,000 to $2 million. The groundbreaking for the $180 million project is scheduled in November, with the first units ready in about 20 months.
Additionally, a number of large commercial projects in the works for downtown by other developers will similarly raise the skyline, as well as transform the office and commercial market in much the same way the BCN and Saca projects will transform the residential market.
Among them are the 29-story “Parthenon” building at 500 Capitol Mall by the Tsakopoulos family; the 25-story 621 Capitol Mall, by David Taylor; a major mixed-use project for 10th and K streets that is likely to include retail and entertainment; and various plans to overhaul K Street and the Downtown Plaza.
Developer John Saca and others argue that downtown needs a few other key improvements as well if it is to truly transform. Among them are progress on overhauling K Street, relocating the Greyhound station, improving the homeless problem and getting rid of some of the transient hotels.
Sacramento’s Godzilla
Some residents believe the new projects, especially The Towers, will transform the city in a negative way.
Continued...
The $300 million to $400 million project will include at least 750 condos, as well as a 250-room hotel and amenities such as a gym, spa and rooftop pool, plus retail stores and restaurants. Units will sell for anywhere from the mid-$300,000 range up to potentially $6 million for a penthouse. Homeowner association fees are also estimated to be between $500 and $700 a month. Construction begins this fall, with a scheduled opening date of fall 2007.
BCN’s Aura project, right down the street at 601 Capitol Mall, consists of a 38-story building with about 260 condos ranging from $300,000 to $2 million. The groundbreaking for the $180 million project is scheduled in November, with the first units ready in about 20 months.
Additionally, a number of large commercial projects in the works for downtown by other developers will similarly raise the skyline, as well as transform the office and commercial market in much the same way the BCN and Saca projects will transform the residential market.
Among them are the 29-story “Parthenon” building at 500 Capitol Mall by the Tsakopoulos family; the 25-story 621 Capitol Mall, by David Taylor; a major mixed-use project for 10th and K streets that is likely to include retail and entertainment; and various plans to overhaul K Street and the Downtown Plaza.
Developer John Saca and others argue that downtown needs a few other key improvements as well if it is to truly transform. Among them are progress on overhauling K Street, relocating the Greyhound station, improving the homeless problem and getting rid of some of the transient hotels.
Sacramento’s Godzilla
Some residents believe the new projects, especially The Towers, will transform the city in a negative way.
Continued...
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