The Sacramento Kings began a sales push this week for what the team and its partners are billing as a unique urban living experience in Sacramento – 45 condominiums that will perch thronelike atop the 16-story Sawyer Hotel tower overlooking the Golden 1 Center arena and downtown.
The condominiums, called The Residences at The Sawyer, are expected to be finished this fall, along with the hotel. Aside from the arena itself, which opened last fall, the hotel-condo complex is the first major piece in the Kings’ plan to build a development called Downtown Commons on the site of the former Downtown Plaza shopping mall.
Team President Chris Granger said the project will evoke style and exclusivity in an urban setting.
Units will boast floor-to-ceiling glass framing a minimalist design that resembles the look of the luxury suites in the arena across the plaza. Condos will have chef-quality kitchens, open “wet room” style bathing and showering areas, quartz countertops with waterfall edges on kitchen islands, built-in Bosch espresso makers in some units, and stainless steel Viking appliances in all condos.
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“There is nothing really like this in Sacramento,” Granger said during a press tour. “This is an urban resort, the ultimate in carefree living.”
The big question: Who will buy, and at what price?
Kings officials and their sales representatives declined to talk about price points, but said the smaller condos, at 789 square feet, will start at $600,000.
Larger units, including several penthouses at 3,323 square feet, could sell for a price in the millions, market watchers say. A recent proposal for a midrise condo project a mile away on Capitol Park included one penthouse with a price tag of $2.4 million.
The Kings’ high-rise location next to the arena, downtown shopping and restaurants could command a higher top price. Penthouses will have two or three bedrooms, a large central room for entertaining and, in some cases, private terraces overlooking downtown and the action in the plaza below.
Granger said the Kings have begun showing a sales gallery mock-up of a condo unit at its J Street team offices to members of the Kings “family,” notably higher-end ticket buyers, including local companies, but will be branching out to other potential buyers in coming weeks.
Granger said he believes the project is distinctive enough to sell “relatively quickly” but put no time frame on the group’s ultimate sales goal. Team representatives will take prospective buyers in the coming months into the unfinished tower to show them the layout and views for various condos.
The residential portion of the tower sits in a five-story box of its own on top of the hotel, sharing some hotel services.
Valets will park residents’ cars. A doorman will be stationed in a private lobby, separate from the hotel. There will be a private lounge where residents can host dinners, parties and movie screenings. Owners will have open access to the hotel’s gym and the terrace pool and lounge overlooking the plaza.
Condo owners will get a hidden perk especially valuable on rainy nights: They will be able to enter the arena through a passageway under the plaza.
The Kings are developing the tower in partnership with JMA Ventures, which owns the Fairmont Hotel at Ghirardelli Square in San Francisco and Homewood Mountain Resort at Lake Tahoe.
The project is being marketed by The Agency Development Group, a Beverly Hills company that describes itself as “a full-service, luxury real estate brokerage and lifestyle company … representing many of the country’s most visible and high-end properties.”
Its founder, Mauricio Umansky, is featured on “The Real Housewives of Beverly Hills” television show with his wife Kyle Richards.
Interior designs are being handled by the Puccini Group of San Francisco and Sacramento designer David Lee.