Living the Luxe Life
From September 2005
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At a sales event in July, Saca’s company was planning to only put up for sale 235 units out of 337, excluding the penthouse, in the first tower. But demand was so strong, he says, they ended up selling 270 units, about $150 million worth of real estate in a single weekend.
Saca recently purchased property at 10th and J streets and is looking to do another high-rise there, possibly 30 stories or more with some 300 condo units. He is also proposing to build about 900 units at the 700 and 800 blocks of K Street.
Nassi is planning a high-rise called Epic, which at potentially 54 stories could rival The Towers. He was eyeing the 10th and J location before Saca swooped in and managed to buy it and he has not yet announced another location.
If You Build It, They Will Come
The traditional problem with downtown, according to city officials and developers alike, has been that it was primarily centered on the daytime workforce — people who drive in from the suburbs to work for the government and related businesses and are gone by 6 p.m. That means many stores and restaurants are closed at nights and on weekends; hence, nightlife has been scarce.
That has started to change in recent years with a surge of new restaurants, but downtown advocates say far more is needed.
“The vision is to make Sacramento the most livable city in the United States,” says city councilman Rob Fong, no relation to the restaurant owner. “I think what we’re striving for is a quality of life that is second to none.”
“We’re actively trying to change the character of downtown. We all on the council, including the mayor, recognize that for Sacramento to really be the kind of city that can anchor the region, we have to have a downtown.”
Continued...
Saca recently purchased property at 10th and J streets and is looking to do another high-rise there, possibly 30 stories or more with some 300 condo units. He is also proposing to build about 900 units at the 700 and 800 blocks of K Street.
Nassi is planning a high-rise called Epic, which at potentially 54 stories could rival The Towers. He was eyeing the 10th and J location before Saca swooped in and managed to buy it and he has not yet announced another location.
If You Build It, They Will Come
The traditional problem with downtown, according to city officials and developers alike, has been that it was primarily centered on the daytime workforce — people who drive in from the suburbs to work for the government and related businesses and are gone by 6 p.m. That means many stores and restaurants are closed at nights and on weekends; hence, nightlife has been scarce.
That has started to change in recent years with a surge of new restaurants, but downtown advocates say far more is needed.
“The vision is to make Sacramento the most livable city in the United States,” says city councilman Rob Fong, no relation to the restaurant owner. “I think what we’re striving for is a quality of life that is second to none.”
“We’re actively trying to change the character of downtown. We all on the council, including the mayor, recognize that for Sacramento to really be the kind of city that can anchor the region, we have to have a downtown.”
Continued...
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