It looks like a high rise office building planned for downtown Sacramento is on hold again. The Sacramento Business Journal's Digital Editor Sonya Sorich says the Vanir Group of Companies has switched its 26-story tower project from "in progress" to "waiting" status.
"We don't exactly know what happened," says Sorich. "But it makes sense that Vanir would need sizeable pre-leasing commitments to justify construction of this project. And some experts say that overall, downtown Sacramento's office market isn't yet a place where new construction is financially feasible."
The Vanir Tower has been in the works since 2014 at 601 J Street. The project switched to "waiting" status in the fall of 2015, became active again last spring, and is now back to "waiting."
Plans are underway for a new business park in south Woodland that could eventually create up to 7,000 jobs. Sorich says the Woodland Research and Technology Park would cover about 350 acres.
"The site is just seven miles away from UC Davis so those involved in the project say it would be an ideal place for technology startups and companies that simply want to be near the university," says Sorich. "The area is known, also, for agricultural research and food production."
The project is still in the early stages. The city could take up to a year to approve the project. And it could take another year for site work and construction.
There's a new fast-casual Mexican restaurant opening soon in the Sacramento area. Sorich says it's a Southern California-based chain called Chronic Tacos.
"Customers order at a counter," says Sorich. "You choose from traditional options such as tacos and burritos. We do know the address for the first local restaurant. It will be on Madison Avenue in Fair Oaks and it could open this summer."
The eatery also offers more indulgent options such as nachos with french fries instead of chips...and serves breakfast all day. The local franchise partner is Christy DeCelle, who operates several Sacramento-area Beach Hut Deli restaurants.