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28-floor luxury high-rise coming to downtown Sacramento, Kings say

Real estate developers across the country said they plan to build Sacramento’s first skyscraper for rental condominiums on a downtown site purchased from Kings. The Southern Land Company and Sakurament Kings said Tuesday that a multipurpose project will be built on Capitol Mall and Third Street, with 28 floors, 225 luxury condominiums and a large 80,000-square-foot timber office building. Opposite the Crocker Park near the Crocker Art Museum, the 2.56 acre site was purchased from Sacramento Kings and is known as Lot X. Previously used as a parking lot and previously owned by the city of Sacramento. “We are excited to build a beautiful multipurpose project in a great location and add to the vibrancy of downtown Sacramento,” said Tim Downey, founder and CEO of SLC, in the release. “We thank Sacramento Kings for believing that the site is the perfect team for the job of transforming and revitalizing the site into something that future residents and the larger Sacramento community can be proud of. We look forward to introducing the Southern Land Company’s thoughtful design and best-in-class hospitality features so that this project will be realized and ultimately the residents will enjoy a high life experience. Calls Sacramento’s downtown, Golden 1 Center, a continuation of the organization’s vision for DOCO. “Downtown needs more housing of all types. Properties that haven’t been used for a long time bring new residents to the city. “Take us to the center, the city’s stores, restaurants and entertainment venues,” said Sacramento Mayor Darrell Steinberg in a release. The developers will start the project in 2023 and will complete the project in 2025. The details of the design were not immediately known.

Real estate developers across the country said they plan to build Sacramento’s first skyscraper for rental condominiums on a downtown site purchased from Kings.

The Southern Land Company and Sakurament Kings said Tuesday that a multipurpose project will be built on Capitol Mall and Third Street, with 28 floors, 225 luxury condominiums and a large 80,000-square-foot timber office building.

Opposite the Crocker Park near the Crocker Art Museum, the 2.56 acre site was purchased from Sacramento Kings and is known as Lot X.

Previously used as a parking lot and previously owned by the city of Sacramento.

“We are excited to build a beautiful multipurpose project in a great location and add to the vibrancy of downtown Sacramento,” said Tim Downey, founder and CEO of SLC, in the release. “We thank Sacramento Kings for believing that the site is the perfect team for the job of transforming and revitalizing the site into something that future residents and the larger Sacramento community can be proud of. We look forward to presenting the Southern Land Company’s thoughtful design and best-in-class hospitality features as this project materializes and ultimately allows residents to enjoy a higher life experience. “

The release also included a statement by Kings owner and chairman Vivek Ranadive calling for the continuation of the organization’s vision for downtown Sacramento, the Golden 1 Center and DOCO.

“Downtown needs more homes of all types. A property that hasn’t been used for a long time takes new residents to the city center and stores, restaurants and entertainment venues in the city,” said Sacramento Mayor Darrell. Steinberg said in the release.

The developers will start the project in 2023 and will complete the project in 2025. The details of the design were not immediately known.

28-floor luxury high-rise coming to downtown Sacramento, Kings say Source link 28-floor luxury high-rise coming to downtown Sacramento, Kings say

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