Promises, Promises... ...it's all coming together

...This just in...

Sacramento has just been granted a "Promise Zone" designation by federal authorities.

According to  the city, the Sacramento Housing and Redevelopment Agency will now get "priority points" when applying for federal grants under this designation which could enhance their chances of getting redevelopment funds for projects in the zone.  The Zone includes a number of challenged neighborhoods including Downtown and part of Midtown.

Read more...

Speaking of challenges:

The Golden Hotel

"Sandwiched" between a Coffee Shop and Restaurant

Maybe they can get some money to turn the Golden Hotel into residential units!  Just saying...

Being First, and getting results that last...

What's a PBID?

It's a Property Based Improvement District; and right here in River City the first one in California was conceived back in 1994 and became reality in 1995 as the Downtown Sacramento Partnership (DSP).  They've accomplished a LOT, including cleaning up Downtown blight, making our business core more consumer friendly, and bringing together business leaders to help revitalize our city center.

Apparently, the people who support DSP via special assessments believe they are getting a good return on their investment - they've again renewed the PBID for another 10 years.

For an interesting history of the Downtown PBID, including comments about Midtown and other special assessment successes, check out Zone Improvement by Comstock's Magazine.

ESC's progress...Ramping up! Torn Asunder!

Outside the former Downtown Plaza, construction of the ESC continues apace, with the underpinnings of the pedestrian walkway up to the plaza level going in on April 11th (as seen from the northwest corner of L Street and 5th streets)

And inside, "the bridge" is carefully torn asunder!

Here's a video update of construction progress on the Entertainment and Sports Complex as of April 8th.


Meanwhile, down at the Kimpton...  Whats' a Kimpton?  A new Midtown eatery?

Why no, that's the brand name, but not the likely name of the hotel that's going to be built next to the ESC...

[Video courtesy of SBJ)]

The "10,000 homes... Initiative". Looking at the right stuff?

The Mayor's "10,000 homes in 10 years" proposal is now starting to be considered by a stakeholder group of "movers and shapers".  Now called the "Strong Housing Initiative", the still being formed group is trying to get it's arms around the issue and the steps needed to put a plan together.

Local, national and even international commentators have said that for our urban core rebirth to be successful in the long run, people need to live here.  And I would add that they need to be able to afford to live here!

As a Realtor who serves Downtown/Midtown I believe the urban core needs to have a diversified residential population, from young professionals to young families to empty nesters and every group in between. What appears to be missing in current development proposals are concrete plans (pun intended) to develop "moderately priced" owner occupied housing in mid-range price points that will attract those that want to experience Downtown living. 

Currently, there's a lot of interest in downtown housing but little if  any qualitative information about it.  I hope the Mayor's Task Force draws upon the earlier, innovative work of a Downtown Sacramento Partnership's review that outlined the "core" problem (again, pun intended) and a course of action to identify the impediments and solutions to DT housing.  Together these groups need to get a study going that gathers facts and market info about residential housing, especially "owner occupied" moderately priced homes.  Then maybe we'll see realistic and attainable proposals.  Let's hope they ask the right questions: We need to know what's available, what's needed, at what price,and who's interested. Then, how do we get there.

Among Suburbanites, there is a strong perception that Downtown/Midtown housing is mostly relatively transient rental units.  To change that perception, the city must help create owner occupied housing for folks who will buy and stay DT and form community bonds.