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Business Journal: 800 K Street, Amgen Tour, Workforce, Boulevard Bistro

The Sacramento Kings this week completed their acquisition of the infamous “hole in the ground” on the 800 block of K Street and released renderings of their plans.

 

The Sacramento Kings this week completed the acquisition of a vacant lot near downtown's Golden 1 Center that some people refer to as the "hole in the ground," because it's been empty so long. The site is on the 800 block of K Street. The Sacramento Business Journal's Digital Editor Sonya Sorich says the Kings released plans for the site before submitting a formal application to the city.

"New renderings that we saw this week show mixed-use buildings with up to 170 apartment units and about 20,000 square feet of first-floor retail space," says Sorich. "It's also worth noting that the existing Bel-Vue Apartments downtown would be rehabbed under this plan."

Those Bel-Vue units would be converted into 22 affordable apartments. It's still unclear whether other affordable units will also be part of the project. The goal is to break ground later this year.

The Amgen Tour of California returns to Sacramento in May. This year's cycling race could triple its economic impact in the area. 

"That's largely because we will see more racers and their teams in town prior to the start of the festivities," says Sorich. "These people are expected to be in Sacramento for seven days before the start of the men's race."

Sacramento is among five U.S. cities with the fastest-aging workforce. Since 2001, Sacramento had one of the nation's highest increases in the share of workers 55 and older. Sorich says the study comes from the online job search site CareerBuilder.

"There's always questions about the methodology. But we do know that in Sacramento and beyond, people are staying in the workforce longer," says Sorich. "It's still important to attract new talent - we always hear the word 'millennials' - to help cities keep growing economically."

Analysts say people are staying in the workforce longer either for financial reasons or by personal choice. Other cities on the list include: North Port, Florida; Oklahoma City; Virginia Beach; and Spokane, Washington.

A locally-owned Sacramento area restaurant got some national recognition this week...appearing on a list of the country's 100 most romantic restaurants put out by the online restaurant-reservation service OpenTable. Sorich says the distinction goes to Boulevard Bistro in Elk Grove.

"This list is based solely on OpenTable reviews. And these lists always generate some kind of debate," says Sorich. "But this does offer national exposure for the food scene in the Sacramento area and especially Elk Grove."

Boulevard Bistro is the only Sacramento area entry on the list...which also includes restaurants in places like Las Vegas, Chicago and San Diego.