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Interest in Downtown Development Increases With Sale of Kings

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(Sacramento, CA)
Monday, May 20, 2013

Developers of Downtown Sacramento are now looking more upscale when considering projects because of the successful bid to keep the Sacramento Kings in town.

Assistant City Manager John Dangberg says the downtown area should  complement a new arena.   Currently there is a mixed use residential project and a renovation of the Marshall Hotel on 7th street that are in various stages of completion.

"The important thing in design for us," Dangberg says, "is that we treat that corner in a manner that complements that building -which is a beautiful, historic building.  The use has been a little questionable. But, when it's restored as a boutique hotel that will be a prime piece of real estate."

Dangberg says the City expected the area would need sprucing up.  It built a new, low-income, single-occupancy hotel a couple of blocks away at 7th and H in part for the residents of the Marshall Hotel.  

Michael Ault with the Downtown Sacramento Partnership says he's seen a dramatic increase in inquiries from the development community.

"We've had calls from investors outside of the Sacramento area," Ault said, "(They're) saying, 'Give us maps of vacancies within three-to-five blocks of this facility, tell us what opportunities exist on connections and line-of-sight with these building, retailers saying, 'We want to be close to it.  Can we do walking tours?'"

Groundbreaking for a new arena could come as early as next summer.   

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