Challenges

Because Sacramento home prices are lower than the Bay Area’s, the proposed rehabilitation requires substantial government assistance.

Although the buildings lacked landmark status, local preservationists demanded that they be treated as historic sites..

Pioneering urban rehab housing in Sacramento entails an intensive education campaign among local agencies and prospective buyers.

model of proposed building

rendering of proposed building

Framework

In 1999, the Capital Area Development Authority (CADA) requested proposals for the rehabilitation and development of a prime, underutilized six-story 80,000-square-foot warehouse leased from the State of California. The warehouse was originally used to store Model T Fords as they were shipped via rail to Sacramento’s R Street, the path of California’s first railroad and the heart of one of Sacramento’s oldest warehouse and industrial districts. The area thrived until the late 1960s, when many companies began leaving. Today the warehouse is used to store government property. Familiar with Rick Holliday’s participation in the Urban Land Institute’s Sacramento Task force, Regis Homes of Sacramento approached Holliday Development about presenting a joint proposal to CADA. After numerous presentations to the CADA Board, other agency representatives, and members of the public, the SRNC/Holliday Development team was offered exclusive rights to negotiate a development deal. As of August 2003, Holliday Development is pleased to be progressing with the design and development stage of the project. Groundbreaking is expected in Spring 2004. If you are interested in the project, please register with us at www.capitollofts.com.

rendered elevation of proposed building

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