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City Approves Two of Five Development Proposals

SACRAMENTO-The Sacramento City Council has shown local developers that getting a proposal approved is not an easy process. Five developers went to the latest council meeting and only two walked out with the necessary approval.

By Michelle Savage | Updated on December 11, 2002

SACRAMENTO-The Sacramento City Council reviewed five development proposals this week that would bring a total of 680 new housings units to the Downtown area. It ultimately granted approval to only two of the projects.

Combined, the five projects would bring about 1,000 new residents into the CBD. These projects would require a total of $25 million in loans, subsidies and land from the city’s redevelopment agency. However, the city was overwhelmed with the details of each project and by the end of the night, had only approved two of the projects.

One of the approved projects is an $11 million rehabilitation project at the vacant Ping Yuen housing center at Fifth and I streets. This project will bring 82 senior and low-income apartment units to the area. The proposal calls for approximately $4.3 million in city grants and loans.

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