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Essay / Research Paper Abstract
This 4 page paper describes the redevelopment project in downtown Sacramento, California, of which K Street is a part. It also gives a reaction to this and similar projects. Bibliography lists 3 sources.
Page Count:
4 pages (~225 words per page)
File: D0_HVKstret.rtf
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Unformatted sample text from the term paper:
that the redevelopment of the downtown area, in general, is not going well. A major residential project, the Towers on Capitol Mall, has apparently been abandoned for the time being
(Downtown Sacramento market update - August, 2007; hereafter "Downtown Sacramento, 2007"). The developer ran into financial problems and finally sold the project to CalPERS a state agency, but it is
unlikely that anything will happen soon (Downtown Sacramento, 2007). The report notes that the problems with this building, which will be the tallest residential structure high-rise west of the Mississippi,
and similar difficulties with other residential high-rises, are probably related to financing issues, not the overall slow-down of the housing market (Downtown Sacramento, 2007). The report remains enthusiastic about people
moving into the city to live, citing the excitement, amenities and other attractions of urban living as reasons to remain optimistic (Downtown Sacramento, 2007). The K Street project
is part of the entire attempt to redevelop and rehabilitate downtown Sacramento. The revitalized downtown will include a mix of high-rise and mid-rise residences, many of them lofts; boutiques, restaurants
and industrial concerns as well (Downtown Sacramento, 2007). The K Street corridor "has multiple projects in the works," including one at 10th and K that is slated to include retail,
entertainment and residential components (Downtown Sacramento, 2007). The first phase of the development will include a cabaret theater and a restaurant; in the future, the project will include "a number
of buildings ranging from 6 to 14 floors and provide a total of as much as 65,000 square feet of retail space-primarily in the form of street level shops with
as many as 150 resident units on upper floors" (Downtown Sacramento, 2007). However, in the 700 block of K Street the redevelopment is running into trouble. This development is focused
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