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Sacramento Forums: Saca Planning New Condo Project - Sacramento Forums

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Saca Planning New Condo Project Rate Topic: -----

#1 User is offline   Eric 

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  • Group: Administrators
  • Posts: 1,899
  • Joined: 24-October 06
  • LocationSacramento, CA

Posted 20 June 2007 - 10:06 AM

Saca Planning New Condo Project

Quote

Developer John Saca is aggressively moving forward with a new plan for a high-rise condominium project in downtown Sacramento a week after walking away from another stalled hotel and residential skyscraper project.

Saca's new project is called The Metropolitan, a 40-story building that may include 200 luxury condos at the corner of 10th and J streets just across from Cesar Chavez Plaza.

Last week, the California Public Employees' Retirement System agreed to buy Saca's share of The Towers on Capitol Mall project at the corner of Capitol Mall and Third Street that saw construction shut down late last year.

Saca estimated that The Metropolitan project will cost as much as $200 million, far less than the $500 million to $600 million price tag estimated for The Towers.


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