Norteast West Sacramento (Vallejo, Florin: real estate, how much, houses)

[sacgsxr]

I made an offer on one of the new (built 2003) high density houses just north of the I street bridge in West Sacramento near the River Walk. I like the proximity to downtown Sacramento and Old Sac, but am wondering about the riverfront development plans. Does anyone think that the area around the River Walk will be developed within the next ten years? Looks like they have some great ideas on what to do with the area, but maybe no follow through.

Anyone have any comments on the area or have any insight on future development in this area.

thanks

[zen_klown]

Right now most developments in this region have slowed down to a crawl because the local housing market crashed and the local economy isn't doing very well.

But the Mayor of West Sacramento, Christoper Cabaldon is very committed to redevoping West Sac. Because the city is fairly small, its much easier to get a consensus to do new projects and to get them approved. That was part of the reason the Stadium for the River Cats got built in West Sac instead of Sacramento.

If there is an area of Sacramento where I think redevelpment has its best chance of working, I would guess its the area you are looking at. Its near Sacramento, its near the river, there are plans to tear out some of the warehouses along the river front and even some talk about building a street car across the river. But how much of it will get done in the next ten years? I really can't say. The local economy has really slowed down. It may take several more years for projects in that area to get off the ground.

The other issue is Christopher Cabaldon, the mayor of West Sacramento. He ran and lost as a candidate for the 8th Assembly district. The guy is a talented politician with ambitions greater than running West Sacramento. As long as he is running things, I am pretty sure that part of West Sac will continue to redevelop. But if he goes, I don't know if the next Mayor will be as successful as he was in turning around the city. A lot of growth in West Sacramento has been closer to Southport and another mayor may decide to focus his attentions in that area. That is the risk of someone else as Mayor.

If the area turns around in the next 10 years, you probably would do very well by buying in the area you are looking at. My hunch is that area probably will turn around, but I am not sure if it will happen in the next ten years or if it will take longer for that area to turn around.

In this region, there are areas like the K street mall or even the Florin Mall that if you were looking at them 10 or 20 years ago, you would have assumed would have been successfully redeveloped by now that still haven't quite been turned around. So even though I think that part of west sac should be turned around, until I see more evidence that things are going in that direction, I wouldn't bet the farm on it either. These projects can end up taking much longer than you would assume. Especially if the current Mayor of West Sac isn't there to help push them through the system.

[sacgsxr]

thanks for your opinion. i couldn't agree more. It seems with the Calpers building right there small retail shops that cater to those people should start popping up in the area.

Seems like the area has such potential, but needs a mayor with vision, unlike Heather, and some companies to take the risk and start developing. Seems like West Sacramento is spending more money top develop their downtown that its brother across the river.

[wburg]

sacgsxr: Which side of the river are you asking about? CalPERS has a massive presence on the Sacramento side along P and Q Street, but small retail shops won't pop up in the area if they don't have retail pads to inhabit, and the state generally doesn't provide them. There are a couple of places to eat inside the complex, and a coffee shop on one corner, but for the most part when CalPERS people want to eat someplace besides their built-in diner they just head downtown, or to nearby existing restaurants like Dad's and Vallejo's. Because many CalPERS employees drive in and park in the built-in parking lot, they don't really interact much with the surrounding neighborhood aside from driving through it.

Heather Fargo isn't the mayor anymore, and we'll see if Johnson wants to do something there. While I will certainly agree he has vision, he doesn't seem to have much knowledge about how to do things. So far he has thrown all his energy into the "strong mayor" initiative to give himself more power, without bothering to do many of the things on his agenda, even the things that don't require the power-grab. Other than mentioning his support for a new arena, there doesn't seem to be that much yet.

As to the Sacramento side of the river: Work is scheduled to begin this year on an expanded "riverwalk" path, from its current ending at O Street down to R Street, and eventually continuing all the way down to the Pioneer Bridge. The long-term "Docks Project" is underway, but there are some things they need to figure out, like how to relocate the Pioneer Reservoir (basically, a rainwater runoff reservoir, the big concrete thing just north of the Pioneer Bridge) and the Towe Auto Museum, and some rather complex land swaps with the state of California. Then, it's just a matter of getting through the latest economic slump.

Overall, Sacramento is spending a lot more to redevelop and redefine its downtown than West Sacramento, but because Sacramento is a much, much bigger city, the results are sometimes less obvious from what you can see from the I Street Bridge. And, let's be honest, West Sacramento is a pretty small place. One or two high-profile projects there will stand out more than the dozen or so recent projects completed or under construction on this side of the river.

[sacgsxr]

Originally Posted by wburg

sacgsxr: Which side of the river are you asking about? CalPERS has a massive presence on the Sacramento side along P and Q Street, but small retail shops won't pop up in the area if they don't have retail pads to inhabit, and the state generally doesn't provide them. There are a couple of places to eat inside the complex, and a coffee shop on one corner, but for the most part when CalPERS people want to eat someplace besides their built-in diner they just head downtown, or to nearby existing restaurants like Dad's and Vallejo's. Because many CalPERS employees drive in and park in the built-in parking lot, they don't really interact much with the surrounding neighborhood aside from driving through it.

Heather Fargo isn't the mayor anymore, and we'll see if Johnson wants to do something there. While I will certainly agree he has vision, he doesn't seem to have much knowledge about how to do things. So far he has thrown all his energy into the "strong mayor" initiative to give himself more power, without bothering to do many of the things on his agenda, even the things that don't require the power-grab. Other than mentioning his support for a new arena, there doesn't seem to be that much yet.

As to the Sacramento side of the river: Work is scheduled to begin this year on an expanded "riverwalk" path, from its current ending at O Street down to R Street, and eventually continuing all the way down to the Pioneer Bridge. The long-term "Docks Project" is underway, but there are some things they need to figure out, like how to relocate the Pioneer Reservoir (basically, a rainwater runoff reservoir, the big concrete thing just north of the Pioneer Bridge) and the Towe Auto Museum, and some rather complex land swaps with the state of California. Then, it's just a matter of getting through the latest economic slump.

Overall, Sacramento is spending a lot more to redevelop and redefine its downtown than West Sacramento, but because Sacramento is a much, much bigger city, the results are sometimes less obvious from what you can see from the I Street Bridge. And, let's be honest, West Sacramento is a pretty small place. One or two high-profile projects there will stand out more than the dozen or so recent projects completed or under construction on this side of the river.

I am talking about the west side of the river in West Sacramento. Isnt the tall building in West Sacramento, north of the old money Store, a Calpers building?

thanks

[wburg]

Originally Posted by sacgsxr

I am talking about the west side of the river in West Sacramento. Isnt the tall building in West Sacramento, north of the old money Store, a Calpers building?

thanks

close, but not quite: it is the CalSTRS (California State Teacher Retirement System) building.

Okay then, I wasn't sure which side of the river you were talking about for a moment there. As mentioned above, West Sac is a much smaller place, and CalSTRS is basically their first tall building other than the Money Store, whereas we already have a few so new ones aren't as much of a big deal. There are a lot of big ideas rolling around in West Sac, but their pockets aren't deep, and it's kind of rough for building big projects right now.

[edwardius]

Have you considered looking across the river? When I moved out to Sacramento, I looked at Metro Place, but in that area, you have quite a few hobo camps along the river. As a female it is not a neighborhood I actually would feel safe in, especially after dusk. That was the reason, I ended up in Natomas.

I am not necessarily advocating Natomas now, but across the river their are homes of similiar size for not that much more in neighborhoods that I think are lot less questionable. Metro Place isn't that cheap. More importantly, its much easier to fix a house than a neighborhood.

Homes - MLS - sacbee.com

Homes - MLS - sacbee.com

Homes - MLS - sacbee.com

[deuterdu]

I used to live in West Sacramento and always wondered when they would do something. I think the area has a lot of potential. from my understanding it is the cost of the clean up (all of the RR stuff) plus the cost of building makes it unappealing to investors. I think the site is fantastic hoever all I ever heard about it was talk talk talk and nothing ever gets done. I think there are plenty of places with potential but it really is a gamble. I think you made the right choice in buying because it is meeting your everyday needs. The investment part of it should be secondary.

[sacgsxr]

Originally Posted by yogababe

Have you considered looking across the river? When I moved out to Sacramento, I looked at Metro Place, but in that area, you have quite a few hobo camps along the river. As a female it is not a neighborhood I actually would feel safe in, especially after dusk. That was the reason, I ended up in Natomas.

I am not necessarily advocating Natomas now, but across the river their are homes of similiar size for not that much more in neighborhoods that I think are lot less questionable. Metro Place isn't that cheap. More importantly, its much easier to fix a house than a neighborhood.

Homes - MLS - sacbee.com

Homes - MLS - sacbee.com

Homes - MLS - sacbee.com

The place that i have made an offer on is Metro place. I am not too concerned about the hobo camps because they keep pretty much to themselves. i used to live in South Natomas, but don't really feel that the area North or South has much character. Plus I like being closer to downtown. IMO Metro Place area has potential to improve over the next 10-20 years while Natomas has already topped out.

thanks

[deuterdu]

As a real estate professional I would suggest you avoid natomas unless you really love it and it is close to work or something. I thinkt he planning in natomas was substandard and done quickly to make a quick buck from the builders. Sorry if this post offends any people living in Natomas but it is my honest opinion.