Archive for July, 2012
Move in day for our east sacramento clients has come … they were so gracious as to host a party for the many who helped them get to success including subcontractors, their families, and friends and neighbors. Thanks right back to you, Ed and Kathleen!
It was heartwarming to a note of thanks addressed to the architect, interior designer, and contractor that included this line “You three – Mike, Pamela and Valentin –are the "godparents" of our new home. Blushing now ….
A light filled and spacious house on a 40 x 100 foot parcel; all done for a lot less than $200 psf including fees permits and landscape … including the latest green sustainable features such as non-vented roof of closed cell foam; instant hot water and central vacuum; bamboo and no voc carpeting; led lighting throughout. I call that a ‘hat trick’!
Webinar on line at Woodworks: the story of Galt and Applied Architecture’s Wood Podium based design there
Mike’s First Recorded Webinar – now on the Woodworks Site. The first presentation of this webinar had over 400 in the audience from all over the country.
Capitol Lofts Project Tax Credit finacing approved today! After more than a decade in the works, this adventure is finally going forward!
At 2pm this afternoon the Tax Credit Financing for the Capitol Lofts project was approved by the State Tax Credit Allocation Committee. Less than half the projects – all scoring ‘maximum points’ in the CTAC vetting process – were funded due to limited resources.
This site on R Street between 11th and 12th has been stalled on the ‘launch pad’ for development for nearly a decade an a half. As the previous development efforts had been stymied, in December of 2011, CFY Development Inc led by Cyrus Youssefi and his son Ali teamed with Michael F. Malinowski’s Applied Architecture Inc and attorney Pat Sabelhaus to take a fresh look at this landmark site. This is the same development team behind the award winning Globe Mills and Historic Hotel Stockton historic adaptive reuse projects.
The concept funded today includes 116 units of rental housing, which range from studio mezzanine lofts to three bedroom 2 bath family sized apartments; both affordable and market rate rents. There will also be over 14,000 sq ft of streetfront retail. The historic six story warehouse is brought back to life; supplemented with new construction on the adjacent ‘pit’ that combines two levels of parking with a multi story 60 ft high new building wrapped in brick.
An ‘art’ theme flows through the project that ties it to the emerging Arts District of the R Street corridor. At the heart of the project – where the National Register qualified historic building meets the new lofts – is a large terrace covered with a Japanese maple forest, illuminated at night with firefly lighting that will be quietly mesmerizing.
The design was presented to the public on June 11th to a very positive reception; a synopis of the presentation is on the CADA website.
Hello R Street Friends,
Today was a big day for R Street! CADA is excited to announce that earlier today the Capitol Lofts project (CADA Warehouse), located at 11th and R Streets, was award $18 Million in low-income housing tax credits. The federal tax credits will allow the Capitol Lofts to move forward and start construction within the next seven months. Yes, you read that correctly. The Capitol Lofts project is finally going to happen!
Next spring, CADA’s development partners, CFY Development and Holliday Development, will be begin constructing 116 mixed-income housing units and 13,000 square feet of commercial retail space. The construction will be completed in the spring of 2015. When finished, you will see a mixed-use, transited-oriented, brownfield, historic adaptive rehab, and infill development project that will continue the transformation of R Street’s Historic District that began with the streetscape project completed earlier this year.
CADA, CFY Development and Holliday Development, could not be happier to be in this position after so many years. We want to thank all of you that have supported and championed this project over the years. As many of you know, the journey to get to this point has been full of bumps and twists, but now we can finally see the end. We are very happy to share this news with you and hope you are too.
See you at the groundbreaking next year!
R Street Development Manager
Capitol Area Development Authority (CADA)
1522 14th Street
Sacramento, CA 95814