A developer has submitted plans for an eight-story residential tower kitty-corner from Memorial Auditorium in downtown Sacramento.
D&S Development is planning to construct the i15 complex at the corner of 15th and I streets, at the site of a former auto repair shop. The 80-unit building will include a rooftop terrace with views of the downtown skyline and two floors of penthouse-style, multi-level units.
The ground floor of the building is slated to include about 3,400 square feet of retail, said Bay Miry of D&S.
The project is scheduled for review by the city’s Planning and Design Commission on April 24. The development team needs the city’s approval to construct a building taller than 65 feet within the commercial zone where the project is planned. Approval is also needed for the developers “to provide less than 100 square feet of open space per (residential) unit,” according to city development department documents.
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Miry said the apartments will all be offered at market rate and the project is privately financed. He said the developers are still in “the early development stages” and that neither a final price tag nor timing for the project’s completion has been determined.
D&S is also developing a residential tower at 16th and P streets called 16 Powerhouse and is expecting to complete construction by the end of the year.
Miry said there is enough demand for even more residential space in the central city.
“You talk with historians and they talk about how there used to be twice as much housing in the urban core (as there is today),” he said. “We definitely have a need for more, especially market rate.”