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Business Journal: Old Sacramento Renovation, Aggie Square Project Update, New Coffee Business May Be Coming To Town

Courtesy / City of Sacramento

A rendering of the proposed changes to Sacramento's waterfront, which include floating terraces.

Courtesy / City of Sacramento

City To Present Old Sacramento Renovation Recommendation

For years, people have wanted to turn Old Sacramento into more than a tourist destination. Those efforts are expected to take another step forward next week, the Sacramento Business Journal's Sonya Sorich says.

Not long ago, the city launched a program called Waterfront Idea Makers, an effort to help revive the city's waterfront and address concerns that Old Sacramento has grown stale. The city commissioned five design and architecture teams to develop new design concepts for Old Sacramento. Members of the public were also asked to submit ideas.

City staff has evaluated the submissions and is expected to make a recommendation to the City Council next Tuesday, Sorich says.

This isn't the first time local officials have talked about bringing new life to Old Sac, but there is one major difference this time around, according to Sacramento Mayor Darrell Steinberg — money.

When Steinberg took office, the plan was to put every dollar of the city's hotel tax capacity into the Sacramento Convention Center expansion, and the rehabilitation of the Community Center Theater and Memorial Auditorium, Sorich says. But later, local hotel operators agreed to provide separate funding for part of the convention center expansion. That freed up about $40 million of debt capacity that will now be invested into other local attractions, most notably Old Sacramento.

Aggie Square Developers Meet With Potential Partners

The developers of the new Aggie Square project in Sacramento say they have been meeting with potential corporate partners but have not come to any agreements.

Sorich says the project is in phase one.

"The first phase is expected to include five structures within 8 acres,” she said. “The entire project is expected to fill 25 acres along Stockton Boulevard.”

The first phase will focus on life sciences and workforce development, with a particular focus on building an information technology workforce. The first phase of the project could break ground in 2021.

Could A New Coffee Business Be Coming To Sacramento?

There might be a new business opening soon for coffee fans in Sacramento.

According to a sales flyer, a building in the 4200 block of H Street in Sacramento could soon be under new ownership and could become a "premier high-end coffee user."

But Sorich says it's unknown what might be moving in.

"The building is a former real estate and travel agency office on an "S" curve in the neighborhood,” she said.

The building itself is for sale, but apparently there's already a plan to transform it into a coffeehouse.

And while the sales flyer says the site is expected to become "one of Sacramento's most desirable coffee shop destinations," we don't know the name of the business that's filling the space.

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