The Sacramento Kings wanted to open their hotel and condominium tower at Downtown Plaza in time for the opening of their new arena.
They won’t make it.
The team said Monday the 16-story tower, to be built immediately north of the arena, will open sometime in early 2017. Completion will come several months after the Kings open the 2016-17 NBA season at their new arena, to be known as Golden 1 Center.
“This is a complex project, and marrying the $500 million arena project with the $300 million mixed-use development requires intense coordination between multiple banks, contractors, sub-contractors and architects,” said Kings President Chris Granger in a prepared statement. “We’ll invest the time necessary to ensure the project provides a memorable experience for all Sacramentans.”
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Preliminary construction is underway, including work on soil stabilization and the underground foundation. Workers also have finished tearing out the Fifth Street bridge that runs through the plaza. Sometime this fall, construction cranes will arrive and “construction goes vertical,” the team said.
The team also disclosed a slight tweaking of the tower’s features. The Kings now plan to build up to 50 condominium units; before, they were planning 69. The structure also will include office and retail space, and the Kings expect to make announcements on tenants this fall.
While the tower won’t be ready for the arena opening, the Kings said it will be completed in time to host visitors for the opening rounds of the NCAA men’s basketball tournament. The tournament is coming to Sacramento in mid-March 2017.
The hotel will be run by Kimpton Hotels & Restaurants, an upscale hotel operator based in San Francisco.