The Capital Region’s tenant improvement market is trudging along, mired by a deep air of malaise following years of construction decline.
On a breezy, blue-sky day in late November, West Sacramento city and regional planning officials gathered near Raley Field to celebrate the opening of Tower Bridge Gateway, a reconstructed boulevard connecting Highway 50 to Tower Bridge.
Sanjay Varshney, 44, is dean of College Administration at Sacramento State. Last month, in conjunction with the Chartered Financial Analyst Society of Sacramento, he published the seventh issue of the Sacramento Business Review. It offers a look at emerging economic trends and forecasts for 2012 in the Sacramento region, comprised of Sacramento, El Dorado, Placer and Yolo counties.
West Capitol Avenue is looking pretty snazzy these days. Modern buildings with shiny, chrome lettering line clean, wide sidewalks. Newly planted trees lead to bright bus stops stylized with sculptured ‘W’s nearly 10 feet tall.
Tightening belts may be the overall theme in commercial real estate these days, but a little planning can turn into big savings. Business owners looking for a home and landlords seeking tenant upgrades can trim expenses without shredding the wish list.
Sacramento loves regional planning. Take an issue — say, transportation or land use or coordination of local government — and a group will sprout to chart a course.
As Sacramento’s Next Economy initiative tackles job growth, it is looking at a spectrum of untapped industries — as opposed to singling out individual industries — ripe for expansion. That strategy is the hallmark of two groups in the Seattle area.
Remember comedian Rodney Dangerfield’s famous catchphrase, “I don’t get no respect?”
If Gov. Jerry Brown had his way, the redevelopment agencies throughout California would be history. Not only would he demolish all of the nearly 400 active agencies, Brown would also use the billions they earn in property taxes to plug the state’s massive deficit and support schools and public safety services.
Not unlike most Capital Region developers, New Faze Development has been through some very serious and trying financial scenarios during the past four years. The North Sacramento-based company has abandoned projects, lost properties and seen its lenders go out of business.
There’s a spark of life in housing construction this year. A tiny, weak spark, but a real one nonetheless. Builders are putting up more apartments in the Sacramento region.
I’ve lost count of just how many times during the past decade we have debated the how and where of building a new arena for the Sacramento Kings. Few doubt the team needs an upgraded home, but the high-pressure tactics of the Kings’ owners — who threatened to leave Sacramento unless they got the deal they wanted — alienated many.
To sell a house in today’s market, real estate agents can’t simply shove a sign into the lawn, schedule an open house and expect offers to roll in. Competition is fierce. Increasingly, the agents who are successfully selling homes in this marketplace have embraced high-tech marketing, including videos.
Carissa Carpenter had her eye on Mare Island for the location of a state-of-the-art movie and television studio plus production company. Headed by Carpenter and studio president Howard Kazanjian, renowned producer of blockbuster films such as “Raiders of the Lost Ark” and “Star Wars: Episode VI – Return of the Jedi,” the studio aimed to be an alternative to Hollywood’s heavily booked and expensive movie sound stages.
Developers revamping the 700 block of K Street are turning back the clock on a blighted avenue that was, half a century ago, a thriving business and residential hub.
Historic allure and prime location are drawing enthusiastic residents to Sacramento’s newly renovated Maydestone apartment building at 15th and J streets.
Is the master-planned community dead? Earlier this year, the Los Angeles Times painted the picture for homebuilders quite clearly when it posed that question.
Three years ago a wrecking ball known as the subprime mortgage meltdown slammed into Sacramento’s real estate market, kicking up a dust cloud over the city’s urban development plans. But rather than dwell on the financial obscurity of the future, David Miry and Steve Lebastchi kept their eyes on the past.
With the real estate market in the tank, many investors are thinking twice about real estate investment trusts, or REITs. And that suits Jim Johnson just fine.
Call it a recession, a realignment or a downturn. Whatever you call it, our current economy is experiencing convulsions most of us have not seen in our lifetimes. Our nation, our state and our region continue to suffer from a sputtering economy and painfully high unemployment.