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Downtown Sacramento Real Estate

July 5th, 2007 categories: Condo, Downtown, Real Estate, Sacramento

Sacramento lost The Towers that would have changed our skyline and given us the tallest building on the West Coast.

Having such a spectacular Real Estate venue would have had quite an impact on our Real Estate and notoriety. Real Estate in Sacramento, CA, in my opinion would have opened itself up to some great potential and opportunities which would have helped seal new business deals.

John Saca and Cal PERS were partners in The Towers. Due to the decline in Real Estate, the increasing cost associated with building and possibly some poor choices on Sacas part, The Towers project failed.

Cal PERS cut off funds to the project, bought out John Saca and will be working with a Southern CA developer, CIM Group on a much smaller scale for the hole in the ground at Capital Mall.

http://www.youtube.com/watch?v=Deu0xJpubnM

This was quite a blow not only for Sacramento but to Saca, himself. Just like Trump who went bankrupt, Saca is back in business once again. He is not willing to tuck his head down and walk away from Sacramento.

John Saca has pulled himself up by the boot straps and is attempting to bring Sacramento yet another project as witnessed when listening to him on KCRA Channel 3. John Saca purchased 10th and J Street and owns it free and clear, needs no partners and plans on building a 40 story project of condos with the possibility of a hotel.

This project is called Metropolitan and will cost $200 million versus The Towers cost of $600 million. Although the Metropolitan will not be the tallest on the West Coast, it will be the tallest in Downtown Sacramento if approved by the City Council and Planning Commission.

You have to give John Saca credit. He is a visionary and he sees the potential for Downtown Sacramento. Without visionaries, where would we be? Lets give the guy a chance. He sold more condos in the now defunct Towers than this new project even offers.

Thank you, John Saca for giving this another try and I hope you make it this time! All this in due time if approved by the City Council and the time line for building, Saca might just have something here Real Estate will have made its comeback and he should be flying high.

Now, for the City of Sacramento how about a little vision on your part? Lets try to get some businesses here that can support this type of urban living. Relying on government jobs is not what will make Sacramento. Its time to bring in the Big Guys with the Big Guns. I realize that sometimes its the chicken before the egg but we really do need to have Big Business if Sacramento is to flourish.

Businesses should be looking at the affordability of re-establishing themselves here in the Sacramento, CA area. Real Estate in Sacramento is certainly much cheaper than San Francisco and the Bay Area. This is the time, to launch a Real Estate and Business partnership here in the Sacramento, CA Downtown area.

I see a great future for Sacramento Real Estate.

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Towers and Aura Deal or No Deal?

Craig Nassi Accomplishes 1st Step

Aura Condos with Sacramento as BANK

Update on Sacramento Arena

Development of Rail Yard in Sacramento

This entry was posted on Thursday, July 5th, 2007 at 7:00 am and is filed under Condo, Downtown, Real Estate, Sacramento. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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