What the key element of this plan seems to have going for it is that it has the potential to create a destination enclave that could be very attractive; with professional sports, riverside housing, state fair, convention size meetings, all packaged in a suburban setting central to the rest of the region’s amenities.
With that going for it, many of the more optimistic revenue and cost projections might be realistic.
Whatever occurs, we do have a lovely plan to mull over.
An excerpt from the Bee’s article.
“The National Basketball Association's plan for a dense urban village near the shore of the American River, anchored by a modern state fairgrounds and a new arena for the Sacramento Kings, reflects an intriguing vision for the future of a space that is woefully underused today.
“Hundreds of acres now covered by dirt lots, asphalt parking and the sprawling Cal Expo fairgrounds would be converted over two decades to offices, shops and hotels – and apartments and condos for thousands of residents. In theory, at least, people would have a chance to live near where they work, or live there and work downtown, putting less stress on the region's overburdened highways, at least at those times when a basketball game wasn't scheduled.
“But while the colorful sketches in the plan's schematics might be fun to ponder, the proposal, like so much in life, will ultimately come down to money. Money the developers would pay for the use of public land, plus taxes paid by the commercial and residential tenants, would help finance the new arena and fairgrounds.
“Much of the current Cal Expo property would thus be converted from a public asset into a primarily private one, but in a way that would not involve raising taxes. The NBA and the Kings hope this would prove more palatable to Sacramento residents who have amply demonstrated that they will not support a tax increase to help house the Kings and their fans in style.
“If the plan progresses far enough, Sacramentans, and ultimately the state Legislature and the governor, will someday have to decide if they want to use the proceeds of such a deal to aid a privately owned sports franchise.
“But before we ever get to that point, the first question is this: Would the plan produce enough revenue to build an arena while still delivering on its promise to finance new digs for the fair?”
