The approval of the redevelopment project for the 700 block of K Street brings more than just the prospect of a revitalized block of the J-K-L corridor, it also includes financial incentives that supporters say will spur the local economy and bolster revenues for the city. Originally, developers Bay Miry, D & S Development, and Ali Youssefi, CFY Development, proposed that the city put in $16 million of funding assistance – one half of that amount in the form of a grant, and the other half in repayable loans from a variety of redevelopment agency sources. Since the initial proposal, however, Miry and Youssefi were able to tap into new funding sources for the project, including a federal p

With the approval of the 700 block project on K street, developers Bay Miry and Ali Youssefi are closer to realizing their long-awaited vision. But that vision has changed in some unexpected ways since its initial proposal. First, that vision “got a lot bigger,” Miry said. When Miry and Youssefi were awarded the project in July 2010, they didn’t have access to the interior of the buildings at the project site. “The initial proposal was very conceptual in nature,” Youssefi said. “We knew that if our team was selected we'd have the opportunity (later) to refine the project design based on a thorough inspection of all the buildings.” Once they were handed keys in late August, they had a

The Sacramento Planning Commission on Thursday applauded a development team's plan for the 700 block of K Street. D & S Development, Inc., and CFY Development Inc. – led by David Miry and his son, Bay Miry, and Cyrus Youssefi and his son, Ali Youssefi – propose a mix of adaptive reuse and new construction for the south side of the block. Since it was introduced, the plan has grown to incorporate Sacramento's historic underground and plenty of outdoor living space, while keeping its residential component smaller and less expensive. The project would also restore historic building façades to help preserve the legacy of K Street, which was once the thriving heart of the city. The plan call

 In an upset vote, the Sacramento City Council on Tuesday chose two teams — one led by D & S Development, Inc. and CFY Development, Inc. and the other by Sacramento developer David Taylor — to revitalize two troubled blocks on K Street Mall. In a split vote of 5 to 4, the council agreed to enter into an exclusive negotiating agreement with the teams endorsed by a selection committee to redevelop the 700 and 800 blocks of K Street. The majority of council members opted not to follow the recommendation of Mayor Kevin Johnson's ad hoc committee to give the entire project to the Sacramento Alliance Team, led by Rubicon Partners, St. Anton Partners and Preferred Capital Advisors. "We need to

The Sacramento City Council is set to vote Tuesday night on the developers who will tackle the blighted K Street Mall. The question before the council is whether to support the recommendation of Mayor Kevin Johnson's ad hoc committee to go with the biggest proposal, which has a "Boqueria" public market as its centerpiece, or to back two other proposals to redevelop the troubled 700 and 800 blocks of K Street on $40 million in city-owned land. Only one selection committee had been identified in the city's request for qualifications. Last month, that committee recommended the 700 block be redeveloped by D & S Development and CFY Development, with their Promenade on K project estimated at $

Disclaimer: This article is my opinion, given as a central city resident and board member of the Sacramento Old City Association. I am not an employee of any of the firms involved, nor the city of Sacramento. I am enthusiastic about this project because it represents the best combination of historic preservation, new development, downtown infill, fiscal responsibility, and promotion of local business, culture, and heritage. In December 2009, the city of Sacramento asked local developers for plans to revitalize the 700 and 800 blocks of K Street. The project area occupies about one city block, around 2.5 acres, on two half-block lots. Four teams submitted proposals, and a five-member commi

On Monday, March 22, the city of Sacramento will host presentations by the four development groups interested in building a project on the 700 and 800 blocks of K Street. This meeting will be held at Old City Hall, 915 I Street, in the 2nd floor hearing room, at 5:30 PM. The four groups who responded to the Request for Qualifications (RFQ) include: * Bridge Housing, Saca Development and Bagatelos Development They propose 360 units of housing, a renovated Bel-Vue, 48,000 square feet of office not on Agency property, and 33,000 square feet of retail. * David Taylor, CIM Development, Domus, and Zeiden Properties They propose 110 housing units, including a renovated Bel-Vue, 60,000 square