The Sac Bee: Sacramento Bee building is sold

The Sacramento Bee building is being sold for around $51 million in a deal that calls for the newspaper to lease the building back from its new owner.

McClatchy, which owns The Bee, announced Wednesday that the building is being sold to Shopoff Advisors LP, an affiliate of Irvine real estate investment firm Shopoff Realty Investments. Separately, McClatchy announced it is selling the building occupied by The State newspaper of Columbia, S.C., to a different buyer and will lease that property back as well.

Read The Sacramento Bee full article

Sac Biz Journal: Demolition begins for closed Downtown Sacramento hotel

Demolition began last week on the closed Clarion hotel site in Sacramento’s central city.

By Saturday afternoon, much of the former hotel at 700 16th St. had been torn down, though full site clearing will take about a month.

Developer Sotiris Kolokotronis, of SKK Developments, said a $65 million housing project on the same footprint will follow.

Read the full Sacramento Business Journal article

Sac Press: Groundswell Art Pop-Up Gallery at Midtown’s H16 Apartments

The Grupe Company and SKK Developments have partnered with Groundswell Art to present a unique art and retail space at the new H16 Apartments at H & 16th Streets across from the historic Governor’s Mansion. Located on the ground floor of H16 in Midtown Sacramento, the pop-up art gallery is open through 2020 and co-owned by John Johnson and Artist Micah Crandell-Bear.

“H16 is a pure example of how our urban core communities can partner to support our vibrant art community,” said Johnson. “This is a great opportunity to showcase some of our region’s most recognized artists, as well as incredible up-and-coming talent.”

Groundswell also worked with the partners to curate and place more than 50 pieces by local artists for the corridors and common areas of H16.

Read the full Sacramento Press article.

Sac Press: Community Invited to Participate in Outreach Meeting About 59th Street Reuse Project

SKK Developments and BlackPine Communities, in collaboration with SMUD, are hosting their first Virtual Community Outreach Meeting (via Zoom) on Wednesday, March 24th from 4:30 to 6 p.m. The SMUD Board of Directors recently selected the SKK Developments and BlackPine Communities team as the developer for its 59th Street Reuse project in East Sacramento.  SMUD’s selection is the culmination of more than five years of planning, research, and strategic discussions regarding a vision for the 20-acre site, currently an industrial yard and parking lot.

Read full article here.

The Sac Bee: A new neighborhood rises from the empty blocks of midtown’s southern edge

It is one of midtown Sacramento’s quietest corners, a world away from the hopping nightclubs, restaurants and stores of J and K streets. The industries that once occupied the blocks along Q, R and S streets east of 15th Street mostly departed long ago, leaving a legacy of weedy vacant lots and train tracks.

Now this overlooked part of the central city is about to get a major influx of development. If all goes as planned, it will emerge as one of Sacramento’s most densely populated neighborhoods.

Read The Sacramento Bee full article

Sac Biz Journal: COVID-19 not slowing infill developer’s activity

As COVID-19 control measures continue to take a toll on both real estate activity and the economy, the most prominent infill developer in the region said he’s staying busy.

Within the next month, said Sotiris Kolokotronis, work should start on both the 190-unit apartment and retail project on the closed Mansion Inn site in Midtown Sacramento, and the 737-unit Arden Gateway apartment project near the Arden Fair shopping center, also in Sacramento. Building abatement is already underway for the former Mansion Inn hotel, which should be completely demolished by May 1, he said.

Read the full Sacramento Business Journal article

The Sac Bee: Wide Open Walls announces plan for Sacramento’s largest-ever mural in midtown

Just after the Wide Open Walls festival wrapped up for the year, a huge new mural project will blossom in midtown this month. The mural, titled “A Journey into Curiosity,” will be Sacramento’s largest at twice the size of the 15-story Johnny Cash mural in midtown.

The mural will be the group project of more than a dozen muralists who specialize in large-scale productions and will be located on the new Eleanor Apartments building on 16th and E streets. “A Journey into Curiosity” will span five stories on four sides of the building.

See video and full article here.

Fox 40: Proposal could bring new grocery store to Oak Park food desert

SACRAMENTO, Calif. (KTXL) — City leaders are considering a new proposal that could bring the former Food Source supermarket off Broadway and Stockton Boulevard back to life.

When the doors of Food Source on 4401 Broadway closed in March of last year, a major problem started brewing for the people of Oak Park.

“It created a food desert in one of our greatest, neediest areas, making it harder for shoppers with little to no means of transportation during a pandemic get to surrounding grocery stores and buy fresh groceries,” said District 6 Councilman Eric Guerra.

Read the full article here.


Sac Biz Journal: After Hours: NAIOP Person of the Year dinner

The Sacramento Valley chapter of NAIOP, the Commercial Real Estate Development Association honored local developer Sotiris Kolokotronis of SKK Developments at its Person of the Year dinner on Sept. 5.

The event was held at Annunciation Greek Orthodox Church in East Sacramento. Check out the accompanying slideshow for names and faces from the dinner.

NAIOP has more than 15,000 members in North America and offers opportunities for networking, professional development and more.

Read More

The Sac Bee: Large midtown apartment project moves forward with sale of Bee parking garage

One of midtown’s most prolific developers has closed on his deal to purchase The Sacramento Bee’s parking garage at the corner of 21st and Q streets in midtown so he can build a 253-unit apartment building on the site.

McClatchy, The Bee’s parent company, said in a memo Thursday that the development group, led by Sotiris Kolokotronis, expects to begin construction in April or May of 2017 and finish the project by the fall of 2018. Kolokotronis’ group purchased the garage for $5.7 million.

Read The Sacramento Bee full article