Plans for another multistory condo complex in midtown could soon be moving forward despite continuing hard times in the housing market.

The project in question is at the southeast corner of 16th and P streets, on land owned by the Capitol Area Development Authority.

Three developers have responded to the agency's request for proposals on the site – and all will be presenting their ideas at a CADA board meeting Jan. 30.

A final selection could come March 20, leaving enough time for a particularly quick-moving developer to get permits and financing, demo the existing building there and still begin new construction by early next year.

What's unusual about this one is CADA's strong preference to see "for sale" housing – instead of rentals – at the high-profile site across from Fremont Park.

"Everybody would like to see more ownership housing" in the area, says CADA Executive Director Paul Schmidt.

Is there a market for that kind of product at a time when other midtown for-sale projects – including the L Street Lofts condos at 18th and L and the Tapestri Square row houses at 21st and T – are struggling?

Schmidt is convinced there is, especially if the developers can keep most units in the $300,000 range.

He cites, for example, fast sales of loft units at the nearly completed D&S Development project at 14th and R streets, just a couple of blocks from the CADA project.

Interestingly, D&S is one of the three developers interested in the CADA project. It's proposing a six-story, 42-unit complex there.

The other bidders? We hear they're SKK Developments and MNA Management.

Going strong

Phil Paw knows "everybody is hurting" in the current economy.

But his 22-year-old firm, Hannibal's Catering, is thriving.

Business was up in 2008 and, he says, "we're crossing our fingers it continues."

The firm's growth is one reason Paw last month completed a $1.5 million acquisition of the 15,000-square-foot, former Uncle Jer's cookie factory in South Sac. Hannibal's will be moving its kitchen and administrative offices there in March from current leased digs in Rancho Cordova.

Joining the firm as a marketing guy will be Jerry Johnson, Uncle Jer's founder.

He's loving it

A long relationship with McDonald's Corp. has paid off for Sac State biz prof Dennis Tootelian.

He's done lots of economic impact studies for the fast-food giant, which is headquartered in a Chicago suburb. The company's former president, Mike Roberts, sits on the committee seeking to bring the Olympics to Chicago in 2016.

So when the committee sought someone to do a study on the event's impact, Roberts recommended Tootelian.

"He knew of my work, which was kind of nice," the prof says. In what we call a smart career move, Tootelian hired his boss – biz school dean Sanjay Varshney – to co-author the study.

Their report came out three weeks ago and projects a $22.4 billion economic impact from holding the games in the Windy City.

A plus, Tootelian says: Chicago already has most of the facilities it needs so it wouldn't have to build new structures that might not be used after the games are over.

Tootelian declines to say how much he and Varshney received for the study, which took more than a year to complete.

But he does say this, in reference to the Illinois Senate-seat-for-sale scandal: "I didn't have to pay to get the contract."

Reach Bob Shallit at (916) 321-1049. Back columns: www.sacbee.com/shallit.