Rancho Cordova future (Sacramento, Citrus Heights, Roseville: apartments, lease, condos)

[cocoreo]

Hi, I recently moved to Rancho Cordova and noticed that there are a lot of office buildings, but a lot are empty/for lease. Did companies move out? Did they build too many office buildings pre-recession? Are there plans for more growth in business in the area?

[2sleepy]

Originally Posted by cocoreo

Hi, I recently moved to Rancho Cordova and noticed that there are a lot of office buildings, but a lot are empty/for lease. Did companies move out? Did they build too many office buildings pre-recession? Are there plans for more growth in business in the area?

It's like that in many parts of the county. My husband used to have lab work done at a Quest lab in a large complex of doctors and dentists offices, I think it was in Fair Oaks. Over the past 2 or 3 years all of the offices have become empty and finally Quest moved too. I recognize some of the Doctors names and they have opened new offices a few miles away in a new building. I just wish that something could be done with all the unsightly empty buildings. I just can't wait to see how long the big Kaiser Hospital on Morse will sit empty after they relocate to downtown, that's going to be real attractive, a big boarded up hospital.

[Elliott_CA]

Originally Posted by 2sleepy

It's like that in many parts of the county...

It's like that in many parts of the country, too. In 2018 the U.S. commercial vacancy rate soared to 17%. Some cities in the eastern part of the U.S. are starting to charge landlords "vacancy taxes" to force them to lower their rents so the building will get rented.

Since we have a housing shortage maybe the Kaiser hospital can be rehabbed into apartments or condos.

[2sleepy]

Originally Posted by Elliott_CA

It's like that in many parts of the country, too. In 2018 the U.S. commercial vacancy rate soared to 17%. Some cities in the eastern part of the U.S. are starting to charge landlords "vacancy taxes" to force them to lower their rents so the building will get rented.

Since we have a housing shortage maybe the Kaiser hospital can be rehabbed into apartments or condos.

I see big empty buildings and think the same thing but it never seems to happen. I see empty motels boarded up and empty for years, why can't the county take them over and turn them into low cost housing? There are people who would much rather live in a motel room than a tent by the river. Unfortunately the Sacramento board of Supervisors pretty much ignores the problem. The only thing they seem to excel at is issuing more permits for massage parlors and liquor stores

I'd never heard of a vacancy tax, I like that idea it might actually help

[Elliott_CA]

Originally Posted by 2sleepy

I see big empty buildings and think the same thing but it never seems to happen. I see empty motels boarded up and empty for years, why can't the county take them over and turn them into low cost housing? There are people who would much rather live in a motel room than a tent by the river. Unfortunately the Sacramento board of Supervisors pretty much ignores the problem. The only thing they seem to excel at is issuing more permits for massage parlors and liquor stores

I'd never heard of a vacancy tax, I like that idea it might actually help

And not far from Kaiser I think the Walmart and Macy's at Watt and El Camino are still vacant as well.

[2sleepy]

Originally Posted by Elliott_CA

And not far from Kaiser I think the Walmart and Macy's at Watt and El Camino are still vacant as well.

Yes, they are still empty. We went to Citrus Heights last week and there were a large number of empty office buildings and strip malls. If all of these businesses are moving to Roseville and Folsom they might regret it because there will end up being too much competition to sustain all of them.

[FelixTheCat]

A lot of it is due to shopping patterns changing from buying in stores to buying on the internet. You can add Sams club and Toy's R US to the list. It's all over the country because several stores in a chain close at the same time.



And when an anchor store leaves, sometimes a bunch of smaller spaces goes vacant.