New Owners for 700 Block of K Street
The development team closed on the 700 Block of K Street properties and ownership has been transferred from the City. It has been a long time coming and great news as we close out 2014. The project is shovel-ready and they anticipate construction to commence in the new year. Their target completion date is Fall 2016, which coincides with the opening of arena. This project encompasses so much of what we want and need in our city – local retail and a mix of housing that retains the authenticity and character of the urban core.
With downtown momentum building, the 700 block of K Street is beginning a major rebirth. The project, which will include apartments, retail, entertainment and dining options, will be completed in the fall of 2016 coinciding with the opening of the ESC. The 700 block of K Street was identified as one of DSP’s highest priorities to move Sacramento forward as outlined in the Three-Point Plan. This project will encompass a great deal of what is wanted and needed in the central city – a variety of local retailers, a combination of both market rate and affordable housing with underground parking.
This project has come to fruition with the City of Sacramento and the development team’s tireless efforts to keep pushing forward. Together with our partners, DSP has been able to see many long time priorities take shape – the ESC, Hotel Marshall and, now, the 700 Block of K Street.