It's likely the largest residential project to open in downtown Sacramento in a decade. It has dozens of apartments affordable to low-income residents and units with sweeping views of the downtown skyline marketed to higher wage earners. And it's one block from Golden 1 Center.
The residential tower on the revamped 700 block of K Street is finally opening its doors.
Nearly a decade after the development was first approved, residents learned Friday they were able to move into the building called the Hardin. Two tenants were expected to move in on the first day.
"We have a lot of anxious people and families who are ready to get in," said Bay Miry, whose D&S Development company partnered with CFY Development on the project. "This is where the fun begins."
Miry worked for years on the project with developer Ali Youssefi of CFY Development. Youssefi, 35, died in March.
"This is a bittersweet moment for all of us because he's not here to see the final product," said Youssefi's father, Cyrus, president of CFY. "It was his vision all the way through. He wanted a project that was affordable for the middle class, what he called the forgotten people."
The Hardin has 84 apartments for residents who earn between 50 and 60 percent of the area's median income. Rents for those units - mostly studios and one-bedroom apartments - are around $900 a month, Miry said.
All of the affordable units are accounted for, Miry said.
However, 40 of the 53 market rate units in the building are still available. There are studios, one-bedroom apartments and two-story townhouse units on the top floor. Rents for the market rate apartments range from $1,500 a month to about $2,300 a month.
“We have a wide range of people, from empty nesters to professionals who want to live in the urban core to young people fresh out of college,” Miry said. "There's room there for everyone."
Meanwhile, Miry said 14 of the 17 retail spaces that face K Street are leased. The first wave of shops will include a Ruhstaller brewery tap room. Other businesses scheduled to open in the coming months include All City Riders cycling gym; MidiCi pizza restaurant; Insight Coffee; All Good clothing store; and Kodaiko Ramen & Bar, a new restaurant from Bill Ngo, the leading force behind Kru sushi.
First approved by the City Council in 2010, the 700 block development includes 137 apartment units and a row of new shops and restaurants. The project once stalled over a legal fight between the city and state over redevelopment dollars earmarked for its construction before work finally began in 2015.
"It's almost as if words can't describe what a feat it is to have the 700 block open for residents," said Councilman Steve Hansen, who represents the central city. "Through all the delays, we're finally here. We fight and fight until we get things done."
Miry and his D&S Development company aren't stopping there.
Already one of the more active developers in the central city, D&S - operated by the Miry and Lebastchi families - has three more significant residential projects in the urban core.
Miry said the company is working on the design of an eight-story hotel and apartment tower at Seventh and I streets, replacing a parking lot next to what was once the proposed site of a Sports Basement store. The hotel would have around 125 rooms with 30 apartments on top, Miry said.
D&S is also working on designs for an apartment building with around 100 units at 17th and K streets, Miry said. The firm recently bought the building that once housed the Sacramento Ballet on the northwest corner of the intersection.
Construction is also moving along on 1430 Q, an eight-story condo tower the company is building at the corner of 15th and Q streets.