The one urban area of town that really appears on a continuously productive development roll, keeps rolling with news of some very cool loft space coming online.
Bob Shallit: Lofts, eateries may rise at old bread warehouse
By Bob Shallit - bshallit@sacbee.com
Published 12:00 am PST Wednesday, February 20, 2008
The housing downturn isn't slowing D&S Development Inc., a Folsom company that's marching ahead with new residential projects.
The latest: loft dwellings, eateries and possibly an art gallery in what was once a Wonder Bread bakery warehouse at 14th and R streets in downtown Sacramento.
The local firm is in escrow to buy the vacant, 95-year-old brick building and plans to start construction next month on what will be 12 residential units sitting above five or six restaurants and retail shops – just down the block from Randy Paragary's R15 nightclub.
"These will be true lofts," Steve Lebastchi, a D&S partner, says of the 600- to 900-square-foot housing units. "We're keeping all the brick … the 15-foot ceilings with exposed ducts and beams." And, he says, these lofts will be in former industrial space, "just like in New York."
The developers, who last year completed a similar-sized condo project in Old Sac, haven't decided on pricing or whether the R Street housing will be for sale or lease. But they say the units, which come with a parking space, will be built to "condo standards," with energy-saving elements that will qualify for LEED certification.
Among the potential tenants being considered for the 12,000 square feet of ground level space are a Japanese restaurant, a "hof brau" and an art gallery.
David Miry, another D&S partner, says the partners "fell in love" with the building, which they're buying from Owens Financial Group, a Walnut Creek commercial lender. "It's got a lot of character. There's a lot of light. You get a really good feeling when you walk in."
Adds D&S associate Bay Miry, who is David's son: "We think this (part of town) will be the top entertainment, mixed-use stretch for midtown and downtown. It's ready to blossom."
