When—and if—this land deal involving Cal Expo comes together, the benefit to the Parkway is wondrous, as there will be an entirely new residential and business area bordering an area of the Parkway that is now home to more illegal homeless campers than strolling families, and that will be a tremendous improvement and a very good thing.
An excerpt from today’s Sacramento Bee article updating the deal.
“Remember that complicated proposal from earlier this year, where developers would build a downtown arena, the State Fair would move to North Natomas and Cal Expo would become a cash-generating commercial development site?
“The plan to secure a new home for the Sacramento Kings is still alive. Representatives from the city, Cal Expo and private developers say they are making progress in first-stage discussions.
“But work is moving slowly, and despite weeks of negotiations, the sides have not agreed on language for a bill authorizing a potential sale of Cal Expo, even though a legislative deadline looms today.
“Nor, said Cal Expo officials, are they ready to make a decision on whether to sell their current site and move to the Arco Arena site in Natomas where the Kings now play.
“Representatives of Senate President Pro Tem Darrell Steinberg of Sacramento said the senator is willing to consider sponsoring a bill to advance the project should there be an agreement. Bills can be amended after today, legislative officials said, but that would require a two-thirds vote and rule waiver.
“The man behind the complex land-swap plan, Sacramento developer Gerry Kamilos, has said legislation is needed to keep the project on schedule for a 2014 arena opening. He declined Thursday to discuss the status of the talks but said he believed 2014 remains achievable.
“Cal Expo officials also declined to comment.
“Kamilos said the arena effort is at a "roll up the sleeves" stage: "We are taking a very pragmatic and detailed approach to problem solving."
“That included postponing a critical step this week.
“At Kamilos' request, Cal Expo officials decided not to finalize and make public a consultant's report on the pros and cons of moving the fair to Natomas or keeping it at Cal Expo.
“Kamilos said he wanted the consultant to view new information from a consultant he has hired, Visionmaker Worldwide, a company headed by former executives with Disney and Universal Studios. That information includes details on how a State Fair would fit on the smaller Arco site and how traffic would flow, Kamilos said.”
Showing posts with label Expo Arena. Show all posts
Showing posts with label Expo Arena. Show all posts
Friday, August 20, 2010
Wednesday, January 27, 2010
ARPPS Letter Published
Arena plan could aid parkway
Re "Arena Story" (Page A1, Jan. 22): Thank you for the great coverage of this very grand plan.
Though a very complicated deal with several moving parts, the beauty of it is how it can help solve one of the most intractable problems on the parkway.
For many years, parkway- adjacent neighborhoods in the area stretching from Cal Expo to Discovery Park have been burdened by the public safety issues arising from illegal camping by the homeless.
The residential and commercial development of Cal Expo – as a key part of this plan – will serve the same purpose as the Township 9 development will on the south bank of the American River: bring more people to the area for legitimate reasons.
More people in the area will reduce the illegal camping and increase the public's safety in accessing the most beautiful natural resource in our community.
– David H. Lukenbill, Sacramento
senior policy director,
American River Parkway Preservation Society
Re "Arena Story" (Page A1, Jan. 22): Thank you for the great coverage of this very grand plan.
Though a very complicated deal with several moving parts, the beauty of it is how it can help solve one of the most intractable problems on the parkway.
For many years, parkway- adjacent neighborhoods in the area stretching from Cal Expo to Discovery Park have been burdened by the public safety issues arising from illegal camping by the homeless.
The residential and commercial development of Cal Expo – as a key part of this plan – will serve the same purpose as the Township 9 development will on the south bank of the American River: bring more people to the area for legitimate reasons.
More people in the area will reduce the illegal camping and increase the public's safety in accessing the most beautiful natural resource in our community.
– David H. Lukenbill, Sacramento
senior policy director,
American River Parkway Preservation Society
Monday, January 25, 2010
Complex Deal is a Stunner
Though a very complicated deal with several moving parts—as reported by the Sacramento Bee—the beauty of it, is how it can help solve one of the most intractable problems on the Parkway.
For many years Parkway adjacent neighborhoods in the area stretching from Cal Expo to Discovery Park, have been burdened by the public safety issues arising from illegal camping by the homeless, some of whom are criminals.
The residential and commercial development of Cal Expo—as a key part of this plan—will serve the same purpose as the Township 9 development will on the south bank; bring more people to the area for legitimate reasons.
More people in the area will reduce the illegal camping and increase the public’s safety in accessing the most beautiful natural resource in our community.
An excerpt.
“In the past month alone, the company proposing to bankroll an arena in downtown Sacramento bought a financial-management firm in Philadelphia for $450 million and launched a $400 million fund to invest in Mexico. It teamed with the government of Abu Dhabi and a Canadian pension fund to bid $6 billion for an electricity grid in England.
“The point is, would-be arena financier Macquarie Group Ltd. of Sydney, Australia, is used to doing deals as big as a basketball arena – and then some. In Sacramento, Macquarie is prepared to pour millions of dollars of capital into a sports and entertainment complex at the downtown railyard, raising hopes among NBA executives and others that this is the plan that will finally bring a new arena to the city.
“But even Macquarie executives acknowledge the complexities in the proposal, an audacious three-ring circus that would relocate the California State Fair to the area around Arco Arena and turn Cal Expo into a real estate cash cow that would nourish the construction of the downtown sports complex.
“The entire development would take hundreds of millions of dollars and years to complete – and is being hatched in the midst of a recession that has devastated the real estate market.
“While the three projects involved "on their own are pretty usual and normal," pulling them together is the big wrinkle, Macquarie's Sacramento point man, Nicholas Hann, said in an interview this week.”
For many years Parkway adjacent neighborhoods in the area stretching from Cal Expo to Discovery Park, have been burdened by the public safety issues arising from illegal camping by the homeless, some of whom are criminals.
The residential and commercial development of Cal Expo—as a key part of this plan—will serve the same purpose as the Township 9 development will on the south bank; bring more people to the area for legitimate reasons.
More people in the area will reduce the illegal camping and increase the public’s safety in accessing the most beautiful natural resource in our community.
An excerpt.
“In the past month alone, the company proposing to bankroll an arena in downtown Sacramento bought a financial-management firm in Philadelphia for $450 million and launched a $400 million fund to invest in Mexico. It teamed with the government of Abu Dhabi and a Canadian pension fund to bid $6 billion for an electricity grid in England.
“The point is, would-be arena financier Macquarie Group Ltd. of Sydney, Australia, is used to doing deals as big as a basketball arena – and then some. In Sacramento, Macquarie is prepared to pour millions of dollars of capital into a sports and entertainment complex at the downtown railyard, raising hopes among NBA executives and others that this is the plan that will finally bring a new arena to the city.
“But even Macquarie executives acknowledge the complexities in the proposal, an audacious three-ring circus that would relocate the California State Fair to the area around Arco Arena and turn Cal Expo into a real estate cash cow that would nourish the construction of the downtown sports complex.
“The entire development would take hundreds of millions of dollars and years to complete – and is being hatched in the midst of a recession that has devastated the real estate market.
“While the three projects involved "on their own are pretty usual and normal," pulling them together is the big wrinkle, Macquarie's Sacramento point man, Nicholas Hann, said in an interview this week.”
Monday, March 16, 2009
Expo Arena
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?”
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?”
Thursday, March 05, 2009
Cal Expo Plan
This editorial from the Sacramento Bee expresses our sentiments exactly. It is a wonderful plan, though much remains to do to see it a reality and Sacramento certainly has a lot on its development plate, but as the capital of the largest state in the country, it is something we should be able to do and do well.
An excerpt.
“As we noted 15 months ago, Cal Expo occupies some of the Sacramento region's most valuable land, adjacent to the Capital City Freeway and fronting the American River Parkway. Yet much of the year, this 360-acre site sits empty, "radiating heat and lost opportunity."
“If the economy were to rebound in a year or two, Cal Expo would be in prime position to transform this underutilized property into a desirable mix of housing, offices and shops, along with a modernized, year-round fairgrounds and entertainment district. To do that, you need to have plans in place.
“To their credit, NBA officials unveiled a blueprint Friday that emphasizes a fair amount of housing – 3.5 million square feet, much it fronting the parkway.”
An excerpt.
“As we noted 15 months ago, Cal Expo occupies some of the Sacramento region's most valuable land, adjacent to the Capital City Freeway and fronting the American River Parkway. Yet much of the year, this 360-acre site sits empty, "radiating heat and lost opportunity."
“If the economy were to rebound in a year or two, Cal Expo would be in prime position to transform this underutilized property into a desirable mix of housing, offices and shops, along with a modernized, year-round fairgrounds and entertainment district. To do that, you need to have plans in place.
“To their credit, NBA officials unveiled a blueprint Friday that emphasizes a fair amount of housing – 3.5 million square feet, much it fronting the parkway.”
Saturday, February 28, 2009
Cal Expo Arena Plan
This is clearly one of the most important economic discussions to take place in our area since the Sacramento Kings came to town (disclosure: my cousin Gregg Lukenbill played a major role in that wonderful addition to Sacramento); and will become a tremendous stimulus to local economic development.
The Parkway is a huge part of this as the residential part of the development can open up that area of the Parkway to a much higher use by the public, and in the process create a highly desirable community in which to live, which will also help restrain the current rather destructive consequences of the homeless camping in the area.
An excerpt from the Bee story.
“National Basketball Association officials laid out a sparkling vision for Cal Expo on Friday with artists' drawings of an imposing basketball arena, fairground Ferris wheels and scores of town houses, shops and restaurants on teeming, pedestrian-packed streets.
“The vision, however, is still way short on details on how to make the multibillion-dollar project pencil out, and who would pay what share, they admitted.
“The presentation, nearly two years in the making, was good enough, however, to win a thumbs up from the Sacramento Kings, who are desperate for an arena that can make more money.
“It also won a quick go-ahead from Cal Expo officials eager to reinvent their faded fairgrounds. "This project far exceeds our wildest expectations of how Cal Expo could be," Cal Expo board member Rex Hime said.
“The Cal Expo board authorized its staff Friday to begin a national search for a developer to partner with Cal Expo and the NBA on what would be a massive, 25-year building project, starting with an arena and modern fairgrounds at the eastern edge of the property, where the racetrack now stands.”
The Parkway is a huge part of this as the residential part of the development can open up that area of the Parkway to a much higher use by the public, and in the process create a highly desirable community in which to live, which will also help restrain the current rather destructive consequences of the homeless camping in the area.
An excerpt from the Bee story.
“National Basketball Association officials laid out a sparkling vision for Cal Expo on Friday with artists' drawings of an imposing basketball arena, fairground Ferris wheels and scores of town houses, shops and restaurants on teeming, pedestrian-packed streets.
“The vision, however, is still way short on details on how to make the multibillion-dollar project pencil out, and who would pay what share, they admitted.
“The presentation, nearly two years in the making, was good enough, however, to win a thumbs up from the Sacramento Kings, who are desperate for an arena that can make more money.
“It also won a quick go-ahead from Cal Expo officials eager to reinvent their faded fairgrounds. "This project far exceeds our wildest expectations of how Cal Expo could be," Cal Expo board member Rex Hime said.
“The Cal Expo board authorized its staff Friday to begin a national search for a developer to partner with Cal Expo and the NBA on what would be a massive, 25-year building project, starting with an arena and modern fairgrounds at the eastern edge of the property, where the racetrack now stands.”
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