John Saca has secured a loan from Deutsche Bank for $375 million that will allow him to start on the foundations for Sacramento’s largest building as soon as next month.
I was wondering if this deal was actually going to come through, but it looks solid now. Periodically there have been reports of stuff like this that have disappeared, but this seems to have traction.
Some people around have been a bit resistant to the idea of this tower, but I think that anything that helps concentrate people more in the downtown, and less in the suburbs is a good thing. Plus, it isn’t destroying any important or interesting buildings. I say go for it. It will be more than twenty stories taller than any other building in Sacramento.
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I’m with you and John Saca 100%. Saca’s comment that he is creating the market rings true. Do you think that another complex of its ilk can happen anytime soon? I don’t. I think Saca has cornered his new market for a few years.
Plus, I would hate to see something that moves people into downtown instead of into the suburbs fail. Downtown Sacramento rocks!
build up, not out!
I think one thing that really obscures the thinking of otherwise forward-looking people of earlier generations is the memory that developers have destroyed so much that is good, and built so much that is bad, that they can’t imagine any sort of development as a good thing. Greedy, evil developers!
I’m ambivalent about high-rises but giving Sacramentans enough options so that those who would choose to live a downtown lifestyle if it were feasible can do so is definitely a good thing. And the sad thing is that Jane Jacobs (may her soul rest in peace) had this all figured out 40 years ago.
All that might have been interesting on Capitol Mall was torn down long, long ago (Sacto’s original Japantown, a lot of seedy dive bars, the first site of Sac High, the site of the first synagogue, etc.). Hence, I see very little in the way of a down side to this, and instead a lot of good things (already mentioned by previous posters).
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