Batter Up! Transforming Sacramento.
During a walkthrough of a client’s new office, I noticed two red wires dangling from the entrance to my client’s building. The wire had been connected to a new security camera; I hope they got the heist on video!
But even if they caught the perpetrator, the ticket would probably be less than the $72.50-meter violation I got parking at the Crocker. $72.50? Really? Considering I had not paid parking about 30 times prior, my parking cost averaged $2.41.
Another client was looking at office space options. The number one consideration was safety. They have been across from the Capitol for 50 years. They are moving to Capitol Mall. They don’t feel safe walking from their parking to their office.
Workforce dynamics, particularly state employees who work – or come into the office – only two days a week, is transforming Downtown. The State continues to vacate privately held buildings in exchange for state-owned properties. On Richards Boulevard, several thousand employees have settled into 1.2 Million SF of new office space. Did you know the State is studying how to run shifts with different agencies sharing the same space in this project? This would allow the State to vacate additional private-sector buildings. Check out this blog: https://sacramentobacon.com/sacramento-cre-perspective-2023/ to read more about the State of CA is up to.
Renaissance Tower on K Street has nearly 200,000 SF vacant, and 250,000 SF just recently popped up at 1515 and S Street. With Renaissance Tower, The Department of Conservation moved to the state-owned Natural Resources building on O Street. At 1515 S Street, a large agency is moving to State-owned real estate.
While I am amazed that the State is executing a plan that was put together over twenty years ago, that plan did not factor in the impact of COVID-19, which changed everything. To get an outsider’s perspective, the Downtown Sacramento Partnership had the Urban Land Institute examine Downtown to help Sacramento’s stakeholders redefine its purpose and value proposition.
The Urban Land Institute’s recommendations focus on creating a new vision for downtown Sacramento. This vision emphasizes the importance of culture, education, industry, and innovation in shaping the district’s identity. It also highlights the need to enhance connectivity within downtown through strategic corridors like J, K, and L streets.
The study touches on Safety. If you ask City Council member Rick Jennings, he’ll tell you that public safety is STEP ONE.
Placemaking is critical to revitalization. Placemaking means creating attractive and vibrant spaces for residents and visitors. The crazy thing is that this was all in place or rapidly getting there before COVID. Consider the Golden One, Safe Credit Union Community Theater, Memorial Auditorium, The Sofia, Art Galleries, and Live music venues like The Crest, Ace of Spades, and the Torch.
Downtown – an 18-hour city.
Sutter Park will be hosting about 160 professional baseball games over 185 days. Who’s your Team? The Giants (Rivercats) or the A’s? It will be challenging to keep Sacramento a secret when baseball fans worldwide tune in to watch their favorite team play the A’s while getting a glimpse of Sacramento’s Skyline, the Railtards (Here comes Kaiser!), and the Waterfront. The ULI panel identified sites as cultural and arts destinations. Concentrating on cultural institutions, performance spaces, and retail experiences will attract more visitors and cash for the local economy. I wonder what the economic impact will be when the A’s come to town? The Sacramento Kings generated over $600 Million in economic activity for the 22-23 season.
“So, we got that going for us, which is nice.”
ULI envisions a mixed-use urban environment and a clean, safe environment to support existing and new residents. How about partnering with universities to develop educational and research-focused opportunities? They also look at Improving connections to the waterfront and reimagining underutilized public spaces. Enhancing access points, lighting, and transportation options to the waterfront will connect downtown to the river. This is great news for Old Sacramento as well.
The City’s finances will improve as more people migrate to the Sacramento region. ULI takes a practical look at creative funding solutions, such as expanding the Property and Business Improvement District or seeking grants to make all this happen. It’s just going to take a little time.
Please let me know if you want a copy of the ULI Study, and I will forward it to you.