Published: 1 years 313 days ago
Sacramento Bee: As the Sacramento City Council prepares to vote on which development proposal it likes to revamp the K Street Mall, the mayor says "one stands out above the others in terms of its ability to be transformative."
That proposal, by local developer Rubicon Partners, would bring a Ferry Building-type market to K Street, along with a 2,000-person capacity music venue run by national entertainment company Knitting Factory and more than 200 housing units.
At his weekly press conference Tuesday, Mayor Kevin Johnson predicted the council would go with Rubicon among the four proposals for K Street. The council is scheduled to vote at its 6 p.m. meeting on entering an exclusive right to negotiate with the proposal it prefers.
Under an agreement with the city, the winning development team would be given 19 properties along K Street the city has spent $42 million acquiring. Other subsidies in the form of downtown redevelopment funding are also available.
http://www.sacbee.com/2010/07/13/2888015/mayor-johnson-touts-rubicon-plan.html#ixzz0tbbwji42
###