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 owners of downtown’s Shady Lady Saloon are set to open a new restaurant in Galt in two weeks featuring a blend of traditional American food mixed with lean California cuisine in a restored building from the Civil War era. Co-owner Alex Origoni said the restaurant – called Brewster’s in a nod to one of the early tenants – will feature food ranging from $8.50 entree salads to a $22 filet mignon, with sandwiches starting in the $9 range. “The history of (the building) is really what attracted us. Much like the building Shady Lady is in, it’s a registered historic landmark, and it just gives so much character to the project,” Origoni said. Origoni, who owns Shady Lady Saloon with Jason

Tuli Bistro owners Adam Pechal and Ulrike “Ulli” Lesk Petersen previewed the space and menu of their second restaurant, RESTAURANT THIR13EN, on Friday. The restaurant is located on the bottom floor of the Sterling Hotel at 1300 H St., where the restaurant Chanterelle was until it closed last January. All evening invited guests were provided teasers of THIR13EN’s menu, which included oyster shooters, sous vide quail wings, seared scallops, Kurabuta pork belly and seared sirloin with potato puree. Each guest was also provided a drink ticket to sample offerings from their full bar, such as wine from Berryessa Gap Vineyards, international beer taps and a number of signature cocktails. Peters

Apartments in the Maydestone building downtown are starting to look more like homes as work progresses in the historic building’s restoration. “It’s a very urban project, it’s a very prime location,” said Bay Miry of D&S Development. “There’s been a lot of people already inquiring about it.” Renovation work on the century-old building at 15th and J streets started in September. “Our whole goal was to do it in 10 months, and we’re still on that path,” Miry said. “We expect to have tenants in here by early summer.” A previous article showed the progress made up to Nov. 17, and workers have made significant strides since then. Miry added that the project has received funding from the Sac

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

A redevelopment project being considered by the city could help cement K Street Mall's future as an entertainment district. The proposal that went before the city's Preservation Commission Wednesday night would build a live music club with a roof terrace in the historic Banking Hall building at 700 K St., anchoring a key block across from Westfield Downtown Plaza and St. Rose of Lima Park. The plan by 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 – also proposes four restaurants with bars for the south side of the block, along with 153 new apartments and a nearly 29,000-square-foot, two-level park

The downtown portion of K Street saw a lot of activity in 2010, from streetscape improvements to community debate over the redevelopment of troubled portions and the construction of new nightlife venues. At the beginning of the year, portions of K Street were still torn up from the previous year’s streetscape improvement project. A Sacramento Press article from February covered the ongoing improvements, which have since been completed. By late March, the city was discussing the next step in the process and considering four proposals for the 700 and 800 blocks of the street. The plans for K Street were the subject of significant public debate, with historians, developers, residents and b

The century-old Maydestone building at the corner of 15th and J streets is scheduled to open in spring or summer to provide 32 apartments to working-wage tenants. “We broke ground a couple of months ago,” said Bay Miry of D&S Development. “We’re building it in four phases of eight units.” The building has four floors for housing and a basement, which will serve as a common area with an exercise room, office spaces and a common kitchen. All units are fully contained with their own kitchens and bathrooms as well. “I’m most excited about two things,” Miry said. “First, we are rehabilitating a major eyesore in a very prominent location. Second, it provides more workforce housing to Midtown

The Maydestone apartments are finally getting the rehab that we have been hearing about since 2006. Built in 1912 and continually having tenants until 2003 because of a fire, in 2009 Sacramento developer D&S Development took over an option to purchase the historic 34 room building. On the southeast corner of 15th and J, the Maydestone apartments have been vacant for five years and underutilized for decades. The $7.2 million renovation should be finish in late 2011 and clean up a busy corner on J Street. SHRA will contribute $4.57 million of low-moderate housing set aside funds. $2.29 million in the form of a 30-year forgivable loan (loan forgiveness based on performance) for seismic and hi

OK, now I'm really excited. After the decision by the Sacramento City Council to choose the D&S Development and David Taylor Interests’ Promenade on K project for the 700 and 800 blocks of K Street, I feel good. Finally, there seems to be a plan in place for projects that will bring more life to K Street. But I also want to celebrate the fact that there is already lots of life on K Street - and not just of the undesirable kind. I live near K Street, and most nights, I can ride my bike down the street and see people walking from all manner of venues within the four blocks between Ninth and 13th streets: Marilyn's on K, the Crest, Cosmopolitan Cafe and Cabaret, Social, Ella, Cabana, the E

Right on. Tuesday night's vote for the more balanced proposal for K Street redevelopment was very good news, and not just for those of us who supported the winning team. Our city moved decisively forward tonight, and congratulations are due to all who participated in the process, from city staff to city council, from members of the community who spoke at Tuesday's meeting to those who have participated in the many Conversations on the subject on The Sacramento Press. The Conversations here about the K Street process have been wonderfully civil, constructive, and deeply informative. The community cared about this issue, and engaged with each other on it. There was a sense that, no matter

 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

K Street. The very mention of this once-thriving street-turned-derelict-pedestrian mall sends people who’ve watched downtown’s progress, or lack thereof, into fits. Everyone has an opinion, an accusation, a conspiracy theory or a pet peeve about it. And everyone has got a cure-all, that one big project that will change EVERYTHING. Tuesday night, the City Council will meet to vote on which of the two teams of developers proposing projects for the 700 and 800 blocks of K Street should be given an exclusive right to negotiate. This is a big deal, with tens of millions of dollars in one case, or, in the other case, hundreds of millions of dollars involved. More important, it is a test of wh

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 $

  Locals who hit Gold Rush Days over Labor Day Weekend will notice some changes in Old Sacramento.   New business activity including historic building reconstruction is underway. While the addition of new ventures hasn't totally offset the loss of others, tourism revenue for 2009 seems to be holding steady with 2007 and 2006, said Melissa Martinez, executive director of the Old Sacramento Business Association, a business improvement district. "We're staying steady in tourism," said Martinez. "That’s a really good sign." In 2007, retail businesses brought in $2.25 million in sales tax revenue, about the same as 2006. Tax receipts dipped by $129,000 in 2008 — primarily due to the I-5 re

At street level, the news at 14th and R Streets in the Grid is a whole row of new dining establishments: The Shady Lady bar and restaurant on the corner, Magpie Catering, Top This yogurt shop and Burgers and Brew. And there's a fifth establishment that doesn't serve food: hair styling diva Marci Landgraf's return to the salon business, yet to be named. (See Colleen Belcher’s Sacramento Press story tomorrow on the downstairs restaurants, which either have opened or will open in the next week.) But there's another story on the second story: 12 lofts being sold by D&S Development, now on their third group of lofts in the Grid. Bay Miry of D&S (son of David Miry, the D in D&S, the S being Ste