Like zombies in a low-budget horror movie, commercial properties in the Capital Region are staggering along in the twilight between life and death.
In his first year as Sacramento’s mayor, Kevin Johnson focused public attention on a series of initiatives targeting the arts, education, the economy and public safety, which aim to bring together experts and residents to develop action plans to move Sacramento forward in its development as a well-rounded city.
Construction projects aren’t known for their efficiencies and streamlined processes.
Promenade Parkway is a lonely stretch of road south of Elk Grove. Behind a chain-link fence, a steel skeleton of what was supposed to be the city’s first mall with a Macy’s department store and a 16-screen theater sits in the shadow of developer General Growth Properties Inc.’s Chapter 11 bankruptcy negotiations.
San Joaquin County needed 3,000 more unemployed workers like it needed a hole in the head, but that’s what it got with the closing of the NUMMI auto plant in Fremont and the related layoffs at its major suppliers.
As the economy continues to struggle, finance and banking lawyers across the country are seeing an increase in commercial loan workouts, which range from simple loan modifications to complicated bankruptcies.
When the president announced his federal stimulus plan, jurisdictions across the nation crossed their fingers for funding, and Placer County got in line.
Like many couples, Grass Valley residents Kendra Delaney and Rob Riley are searching for the perfect home. They’d like the house to be fewer than 10 years old, have at least three bedrooms, two bathrooms, a spacious kitchen and room for Delaney’s 6-year-old son, Sam. One other detail: The house must also be able to accommodate Delaney’s 62-year-old father, Jim Delaney.
The credit crunch and a wave of foreclosures swept the Capital Region housing market like a wildfire, turning the landscape into a scorched ruin with many familiar features gone, including some well-known names in home building and residential development.
A serendipitous land purchase in Auburn is breathing life into a town property hard-hit by the economy.