The economy and state budget woes have slashed millions of dollars from public transit, forcing hundreds of layoffs, service cuts and fare increases that have pushed the price of a bus ride in Sacramento to among the highest in the nation.
In more than 40 years as an architect, Don Comstock has seen the profession weather some rough periods.
This month, Mayor Kevin Johnson’s Sacramento First Task Force will make recommendations as to how the city could get the most value from a proposed sports and entertainment complex.
Five years ago, Truckee’s Martis Camp fell out of the hands of land planners and golf-course designers and into the hands of lawyers.
Several projects are in the pipeline that could strengthen the Port of West Sacramento as a hub of green activity as soon as 2011.
Last November, San Francisco Federal Reserve Bank President Janet Yellen gave a speech on the national economy and put the prospects for the commercial real estate market in stark perspective.
For decades, the contours of the Capital Region economy seemed etched in stone. Government, manufacturing and construction employed the bulk of the population. After the boom and bust of the past decade, however, the job profile of the future could be almost unrecognizable.
Several new doors have opened in the Tahoe area the past five years, but few are as grand as those at the $300 million Ritz-Carlton at Northstar.
When boom went bust in Truckee, the mountain town wasn’t left empty-handed. Everywhere you look are reminders of the high times in the ski town’s real estate market — not only new homes, but new trails, a community center, a new middle school and affordable housing; the list goes on.
I’m not one to study a problem to death. I’m usually in favor of action rather than talk, pragmatic solutions rather than unending analysis.
There’s an old joke that no two economists can agree on the economy, but as the nation, California and the Capital Region continue to weather the worst downturn since the Great Depression, economists are showing remarkable solidarity: They think we’re in a mess.
Just because you can design, doesn’t make you an architect. That was certainly the message sent when the California Architects Board issued two fines of $2,500 each in September 2008 to Diana Suhanova, owner of All in One in Sacramento.
The design-build industry has been absolutely battered by the spoiled economy. Architecture and design firms lament layoffs, nonexistent financing and an utter lack of optimism for 2010. Yet a number of large regional projects are keeping local firms afloat and offering a silver, albeit temporary, lining.
At a time of extreme economic stress, our state government has taken aim at one of the few resources communities have to repair their bruised economies — local redevelopment funds.
City planners and private developers in Sacramento envision a downtown shopping and entertainment hub pulsing with revenue and pedestrians. The mind’s eye replaces vagrants with decorative park benches and rundown storefronts with shiny new facades. And rather than dispersing at sundown, restaurant patrons and theatergoers would linger into the wee hours.
No part of the region has been immune to the retail woes that come with a lagging economy, but the Highway 50 corridor — Rancho Cordova, Folsom and El Dorado Hills — entered the slowdown crippled by its own geography.
It might be hard to imagine, but Sacramento will start building thousands of houses and condominiums again — some day.
If there was a soundtrack to banking this summer, it sounded something like the theme from “Jaws” — tense, ominous and hinting at unknown dangers below the surface.
A drive past a neglected home in Natomas or a shuttered Mervyn’s in Roseville is more than a sign of the strained Capital Region economy. It is also an expensive risk that can hit property owners at the knees.
The cost of lumber, steel, asphalt and other construction materials has been on a wild ride since the early part of this decade, but don’t be fooled by the relatively placid prices in 2009. Industry players say it’s likely just a brief respite before the roller coaster starts climbing again.