Another planned midtown condo and rental project has hit a now-familiar snag: no financing.
Last summer, a partnership headed by Sacramento architect/developer David Mogavero was selected by the Capitol Area Development Authority to build a complex at 16th and P streets. The project's innovative features included a dorm-like rental annex and a hydraulic-stack parking system.
But the partnership "came up against a brick wall" in terms of getting capital, Mogavero says.
Now, CADA's board is asking Mogavero's group and two other developers who were project finalists to revise their proposals and try to find financing.
"We're saying, 'Let's start over and let all three get a shot at it,' " says Tom Kigar, CADA's development director.
The three - including D&S Development and SKK Developments - have until Dec. 20 to submit new plans and get commitments from lenders.
Kigar says CADA's preference is still to have a for-sale housing component in the project. But he says the group's board is being flexible.
"If somebody comes up with rentals that would be converted to ownership later, that would be acceptable," he says.
Bay Miry, a representative for D&S, says flexibility could help. But it may not be enough, given the dismal financing climate.
"Every bank we talk to says they haven't made a construction loan in a year and a half," he says.
Play dress up
Looking for a really unusual Halloween outfit?
The Sacramento Theatre Co. might be able to help.
As a fun fundraiser, the STC on Saturday is selling hundreds of costumes used over the the past two decades in its various productions.
At prices ranging from $1 to $40.
"Our storage area was bursting at the seams and we didn't plan on reusing them," says Karen Leslie, STC's development director.
Among the cool and unusual items, in children's and adult sizes: retro aprons, vintage PJs, "Mad Men"-era suits, hippie skirts, opera capes and assorted zombie attire.
Also, for those who really want to go retro: Elizabethan wear from Shakespearean plays.
The event goes from 9 a.m. to 2 p.m. at the theater, 1419 H St..
Also on sale: $25 raffle tickets for a condo. And no, the residence in question is not one of those being built - maybe, someday - at 16th and P.
Mannequins break rule?
Customers can't wear hoodie sweat shirts over their heads under the new dress code at Arden Fair mall.
But what about mannequins?
The question is posed by state public information officer (and former Bee reporter) Pam Slater, who shops often at Arden and noticed that some of the display models are blatantly violating the new rule.
With tongue in cheek, she suggests that once the policy goes into effect Nov. 1, offenders "be arrested and taken out in handcuffs." At least, anyway, the ones with arms.
Arden's security chief Steve Reed says the mall has no jurisdiction over store displays. Besides, he says, there's really no connection between clothing that's sold at the mall - and what people can wear there.
For example, Reed says, mall mannequins can be seen wearing bikini swimsuits and sexy teddies.
And, he adds, "We don't allow (shoppers) to wear those either."
Reach Bob Shallit at (916) 321-1049. Back columns: www.sacbee.com/shallit.
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